(Whether you're naughty or nice.)
To all those near and far, we wish you happy holidays and a Merry Christmas!
Of note, we will not release a newsletter next week, unless something wild happens in the markets that you need to be aware of! And, knowing markets in 2021, there is a chance it could occur! So don't worry, we will let you know if that's the case. Remember that the app is available 24/7. Check on prices, anywhere, anytime. That's what it’s there for!
The holidays are upon us! Are you roasting your chestnuts on the open fire yet? It's darn cold out over here. I hope it's nicer wherever you are!
Weekly Market Recap:
Markets aren't too exciting this week and there’s been little action. Some days they lose ground others days they gain. Many traders are positioning themselves to remain absent until after the holidays. Because of lower volume trades there is the potential for large market swings. So, if you do have a price in mind that you want, put a target in with your preferred buyers. You just never know!
Deals of the week: $23.76/bu old crop canola, $13/bu CPSR, $10.10/bu barley
Canola: Canola had a good day today. After losing ground earlier in the week, canola futures turned to end higher. March 2022 futures closed at $1,002.70/MT near to top end of charts.
Weather in South America is being monitored closely as La Niña could bring on even more dryness and hurt soybean yields. There's news that southern Brazil and Argentina are experiencing drier weather right now. Chinese soybean demand remains an important wildcard. Soybean oil sales to India also provided some support.
Wheat: Wheat bids received support from a lower CDN Dollar, strong export numbers, strong domestic feed wheat bids, tornadoes ripping across winter wheat growing areas in the U.S. and news that Russia may lower its export limit to 8 MMT. CWRS and CPS bids ended the week higher.
Barley: Steady to stronger. Barley bids saw a few slight increases this week. Our barley exports haven't really dropped off compared to last year even though we grew a much smaller crop. As we know, barley supplies are low, feed wheat prices are strong and corn is flowing in. Corn charts are hovering without any clear direction at this time.
Peas: Pea prices are quiet but steady. I've noticed a few bids soften here and there. Waiting for some new demand.
Oats: We are seeing some oat bids gain strength this week with a few locations offering premiums. Check your local area.
Around the farm: We went on our annual Christmas tree hunt and picked a nice bush tree to put up in the house and enjoyed some skating on our farm-made rink before the weather turned cold. We tried to move grain during the week, but the weather has not been cooperative and I don't want to get my truck and trailer dirty! We received another good six inches of snow early in the week so we spent time shovelling and clearing the yard. Then the real cold weather arrived. It was -37°C when I woke up this morning. Ew. I went outside for 10 minutes to fill up our woodbox and my face froze. So now I'm sitting by the fire dreaming I'm on a beach!
Our place hosts Christmas, as I do live in the house we all grew up in on the farm, so next week will be a busy one here. I am looking forward to many cheers and many laughs. I wish the same for all of you!