Father. Farmer. Farmbucks member.
(The ultimate trifecta.)
This one's for dad and all the fathers/father figures out there. Cheers to those who work tirelessly to support their families. Although my father isn't here with us in body, he is always in spirit. My father played a vital role in growing my confidence and teaching me life and farming skills that ultimately landed me where I am today. He taught me to be fearless and go after what I want. Dads everywhere are loved and we all look up to them. Farmbucks wants to say thank you! We want to help make your life a little easier by taking all the time-consuming work out from finding your best grain bids.
Just like how a father is always there for you, so is Farmbucks, and our app is just as smart as dear old dad. So, make pops proud and get an app that does the dirty work for you! Did we mention unlimited canola access at all times?
Did Father’s Day sneak up on you? Don’t stress, we got your back! Click this link and give dad the gift of complete price transparency—it will surely make his day!
Another crazy week. Markets took a big hit and lots of limit-down action yesterday. Spec funds were ran out the door due to wetter forecasts for the U.S. Midwest, the U.S. FED hinting it would be hiking interest rates sooner rather than later, and China also trying to control risk in overseas commodity markets. The only market holding on decently well through this week's sell-off is Minneapolis spring wheat futures.
Canola: Falling alongside soybeans, soybean meal and veg oils. It took a hard hit this week, closing limit-down Thursday only to regain some strength today (except nearby July futures, which posted additional losses of $24/MT, narrowing even further its premium to the Nov. futures).
Looking at prices: bids are down about $2/bu this week
Old crop bids hover around $18/bu (depending on your area)
New crop levels are down around $16/bu
Wheat: Chicago and Kansas took the bigger hit of the three markets, as seasonal winter wheat harvest pressure takes hold and spec fund selling in all commodities drags them down. The deep break in corn also does not help, as its previously high price caused more wheat to be included in feed rations.
Meanwhile, the Minn. spring wheat futures have held up fairly well. The dry Dakotas and lower acres are lending support. The weather will determine where this market will go next.
Barley: Nothing really exciting. Barley bids are still bouncing around, slightly higher or lower.
Peas: Little action, what can I say?
Around the farm: Still trying to spray. Winds and rain haven't been giving us many options. It's that time of year (big eye roll). Crops are growing super fast and I actually have my early-seeded canola just starting to bolt. We are starting the second pass in-crop (canola) today and will try to get it done over the coming days.
Also, not sure if you've heard but prices of Roundup have dramatically increased overnight early this week between 20 and 40 per cent. If you have any access to glyphosate supply at a spring-type price, you may want to lock some more in! Just to give you an idea, I had purchased some Roundup Transorb this spring at about $6.50/L and it's now worth $8.50 to $9/L. That’s almost as good as the inflation rates on a 2 X 4!
Another quick check-in: diesel prices are down 4.5 cents from spring quotes. And it's funny, no supplier will give me an indication of where they think it's going. Seems like it's anybody's guess.
Anyhow, cheers to all those dads out there! I'll be sure to have a drink to you!