Locate Your Ultimate Bid
Well, there it is folks ... We are already a week into the New Year and markets are on a roll (UP)! Next Tuesday the USDA is set to release its key WASDE report, which is anticipated to be bullish for markets. I’ll cover off the latest in our next email blast, so keep watch!
By the way, there are new offers and buyers listed this week! Many of which can be found for January feed barley deliveries. Tip: Scroll through January to find some great FOB offers. Check it all out, there are thousands of great opportunities no matter what you’re trying to move this winter.
On a Farmbucks note, if you haven’t signed up yet, what is holding you back? We are like the ultimate dating app minus all duds. You want a no-strings attached hookup as much as we do, which is perfect because we only exist to connect hungry buyers with eager sellers.
Canola: Workin’ on UP and UP. $15/bu canola seemed to be a common bid offered this week (in Alberta, at least). Even seeing buyers today want targets of 15.50/bu for May and July delivery. Prices overall, have come up a lonnnnnnng way. Don't we all wish we had more canola to sell at these levels?! I couldn't resist any longer and doled out another small sale of my own old-crop canola into these markets.
It should be interesting to see what happens next Tuesday as the WASDE report is expected to lower its soybean ending stocks and the overall size of the South American crop. South America has been getting spotty rains, so the crop is not a total wreck, but it is not the best either.
Wheat: Wheat markets are trying to work higher. Not much for news. U.S. winter wheat crop ratings have dropped (dryness and freezing), Russian and Ukrainian wheat crops lack snow cover and are vulnerable to cold temperatures and South American weather forecasts are not ideal. Still, there is plentiful wheat in the world so big bullish moves are unlikely. Take note that if our dollar continues to strengthen it may have a negative influence on our basis levels.
Barley: We have seen plenty of strong demand this week for feed barley. This has been driven by greater interest showing up in the export market. It is a great time to explore your local offers and book some in.
Peas: Finding stronger prices for old crop yellows and even good prices can be reached for off-combine movement. Don’t be surprised, at the very least check them out. Demand is strong and the mighty soybean meal and corn markets are lending their support.
Around the farm: Are you even Canadian if you weren't cheering for our team at the World Juniors? Unfortunately, they were outplayed in the finals but at least it provided some entertainment and something exciting to look forward to. (I can’t stand watching the news these days.) Another positive, it is so beautiful and mild outside that it actually feels good to be out and about. I am wishing I had some grain to move this month because I am certain that when I do have to haul, there will be tons of snow to push and -40°C degree weather. *Fingers crossed I am super wrong*
Happy weekend! I hope you all have a chance to get outside, get moving and enjoy the warmest of the cool air!