Show Me The Love.
(Top prices too.)
We are feeling the love … are you? Open your heart and your minds to all the possibilities. Fine, enough sappy stuff. Just open the Farmbucks app and that will be good enough!
If you had a free trial and it’s over just remember that our work for you is just getting started! Did you know that even when your free trial ends you can always view canola prices? It’s on us. And its our way to show you that we care. You deserve it and a whole lot more. You are worth it! Farmbucks conveniently shows you alllllllllll the sweet spots—not those sweet spots—with just a couple clicks. What’s not to love?
China is now in holiday mode. The Chinese New Year is here and, well, they know how to party and celebrate … for about 16 days, that is! So, the markets will have to look elsewhere for news to feed the bulls, or should I say ox ;)
Canola: Strong move up today! Price action has been volatile to nobody’s surprise. Today it has been able to recover all the losses it took midweek and even end higher. The other veggie oil markets have also flexed their strength and provided support. Still, there’s a simple fact that if we keep up using canola at our current pace, we will run out of canola before the next harvest is able to come off the fields. It will be interesting to see how canola holds up if soybeans lose steam, especially as the South American crop is currently tracking on a generally good to possibly even record-big.
This week we are finding $16.50+/bu old crop canola bids and many new crop specials for $13.00/bu Sept-Dec delivery. These prices are still legit, so pay attention.
Wheat: Lost some steam throughout the week but still holding above some key support levels for the time being. Not much in the news cycle right now to drive the market either way. The cold weather we have may kill off some the U.S. winter wheat crops but the extent of the damage, if any, remains unknown until the crops come out of dormancy. If Mother Nature continues to bring on additional cold spells, markets will react accordingly. A couple other notes, it sounds as though Russian farmers will probably grow less wheat due to their government’s effort to reduce domestic prices and increase supplies. Also, despite the global wheat stocks being revised lower, there is plenty of wheat in the world. It is interesting to read though that 51 per cent of the stocks are held in China, which is a polite way to say it is generally unavailable to the world market.
Barley: Holding strong. Still good to great prices available for both new at $6.00/bu and old crop at $6.60/bu. Watching corn to lead the way. Right now, corn is vulnerable but there is no clear direction either way.
Peas: Generally unchanged this week. Finding $11.00+/bu for old crop yellows and $9.50+/bu new crop.
Around the farm: The kids were supposed to have two nice days at school (Monday-Tuesday) before their long six-day break (I'm not sure why … teacher PD days and who knows what else). Anyhow, both days were cancelled because it was just too freakin’ cold out. So, we decided to get the heck out of dodge and get a much-needed change of scenery, so we headed to Valemount in beautiful British Columbia. The picture above was taken with Canada’s tallest Rocky mountain, Mount Robson. To be able to see hte top is such an amazing sight with not a cloud in sight. We split out time between a hotel and a friend’s cabin and are going to make the most of tobogganing, sledding and skiing. There will be plenty of time to slave away at the farm but for now, all I can say is YOLO.
And don’t forget: it’s Valentine’s Day weekend.
Happy smooching y’all!