(Find the jackpot.)
They're back! Introducing this week's top bid winners from Farmbucks. Recognized for their value, timeliness and ... get ready to be wowed. We are introducing a Deal of the Week. We will post our favourite hot bid and share it with you all in the newsletter. Tell your friends and show them what they’ve been missing by being off Farmbucks. Check out all our other price reports below, too. We know you are slammed with harvest so don’t waste your time, let us shop the winners for you!
No matter where you are there’s deals to find for all of your crops and we’re here to help. It’s good to know what’s out there, even if it’s outside your typical delivery radius. We exist for one simple reason—helping you find better value for your hard-earned crops through legit easy-to-understand data. With such wide spreads in bids, it pays to know what you have in the bin. We help you find a home for the grain you want to market. We’ve heard from many of you this past week that you were able to capture better value for your grain and make a sale using the information found on our app. And we aren’t talking about just a few cents. I'm talking a couple DOLLARS more per bushel, or thousands of dollars on a contract type difference. That’s absolutely amazing! Hence why we are called Farmbucks!
We love to hear stories like that. Keep 'em coming!
Weekly Market Recap:
Markets are positioning themselves ahead of Monday's key production report from StatCan. Canola futures rebound. Pea bids cruise higher with some specials released to fill immediate demand. Lentil prices are also on the move up. Wheat hovers a bit higher.
Deal of the week: $17.00/bu yellow peas off-combine!
Canola: Canola futures made some nice gains in the first half of this week and then took a breather Thursday and Friday. Nov. futures are once again hovering above $900/MT! It is generally an inverse market, where canola is worth more in the coming months than later in the year. We shall see if Monday's StatCan report lights a fire under this market. Right now, current high prices are deterring spec funds and buyers from jumping on board.
Soybean futures were on the rise due to rumours and confirmation of China buying up U.S. soybeans. With harvest coming and rain expected to fall across parts of soybean growing areas, the market is holding back. Still, it is not collapsing either.
Wheat: Futures are chopping around the high range and made some small gains late this week, following the strength made in corn and soybeans markets. Minneapolis wheat futures in particular have posted the strongest gains and charts point up. Like the others, wheat is waiting for Monday's StatCan report.
Certain elevators have chosen to forego drying charges for wheat up to 16% moisture and only charge shrink for nearby deliveries. Shop around especially if you have high protein wheat, as most buyers pulled protein premiums off the table there are still a few willing to pay a small premium for it.
Feed wheat bids are strong too, don’t forget to check those bids out!
Also don't miss these durum prices that are now more than $20/bu!
Barley: Holding strong for nearby deliveries especially. We are seeing some softening of bids occur at local elevators though. Corn has been moving into rations and will keep a lid on barley prices. New crop corn prices are lower further out and if they stay that way, barley bids could weaken some more as we move into late fall. Keep in mind, $8.00/bu FOB is still available now.
Malt barley bids are posting a premium over feed barley. More buyers have adjusted their bids this week once again. Buyers are looking to fill contracts and some are still offering farmers a bonus if their varieties and feed barley contracts align to make malt quality.
Peas: Offers of $16/bu yellows off-combine can be found this week as some locations are looking to fill trains. Prices are high! Canada and the U.S. have smaller pea crops (we'll see what StatCan says Monday).
Oats: Oat futures are flying high! Cash bids strengthen to $6+/bu. As mentioned, supplies are super tight as acres planted were low and crops in Canada and the US burned up from the summer heat.
Around the farm: Wow, where does time go? We received about an inch of rain between Sunday/Monday so I took advantage to get caught up on school shopping and paperwork. We finally got in the fields yesterday and pulled off a quarter-section of 17% moisture CWRS. Our forecast looks awful with plenty of rain and showers headed our way next week. That type of weather won't be good for the wheat still sitting in the fields so we will try our best to pull off what we can when we can. Here’s to having a dryer and hoping that rain stays away until AFTER harvest ;)
Gotta run and get back in my combine! Happy combining ya'll!