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(Bids climb in heatwave.)
Another ice cream please?! Almost any flavour will do, just eat it quick before it melts! Enjoy something cool while you sit back and check out the latest H-O-T prices on Farmbucks! Just because it’s sweltering hot outside, doesn’t mean that buyers aren’t turning up the heat on prices, too. Whether they are hot or cold, we capture them all for you in our handy dandy free app.
Stretch your fingers and get your high fives ready. Top bids are back! Use our data to push for your personal best. It's been too hot to spray, and if you’re anything like me you are taking a quick week off, but you still want to keep your eye on bids; and, really, you should be. You can make a buck and go wakesurfing. We designed our app with this in mind! Give it a try, you’ll be glad you did.
The StatCan report released this Tuesday contained no surprises. The big market shocker was Wednesday’s USDA report. It released corn and soybean acres that were well below trade estimates sending markets soaring higher.
Right now, the deteriorating crop conditions from the hot and dry conditions are also lending support to the markets.
The upcoming U.S. long weekend means its markets are closed on Monday, July 5.
Canola: Markets are up in conjunction with the soybean rally and our hot and dry heatwave. Crop conditions are deteriorating at the moment but crop bids are over $2/bu more than last week! Markets are volatile and are hinging on the weather.
Looking at prices:
Old crop bids reached $22.02/bu
New crop levels are up around $19.20/bu !!!!
Wheat: Wheat did not actually have any bullish news coming from the USDA report as numbers came in at or above trade expectations. However, with corn posting limit gains on Wednesday, a continued lack of moisture and too much heat across key growing areas, Minneapolis wheat futures pushed higher.
$10+/bu for new crop 1 CWRS 13.5 this week
Barley: Feed and malt barley bids picked up some strength this week as corn soared higher.
Peas: Pea bids also found a little more strength this week. Pea acres were lowered in our StatCan report.
Around the farm: Crops were looking good with my wheat entering the flag leaf stage and my canola starting to bloom. Notice I said were. This heatwave will have some effect on yields no doubt, especially if rains do not come ... and soon. I know, I know, it sounds like the typical farming story: need rain, too much rain, too cold, too hot, etc. There's nothing I can do so instead of worrying, I choose to enjoy the sunshine and lake time with family.
Enjoy a cold one! Cheers!