That time of year.
(Late nights and combine lights.)
The days get shorter and the weather grows colder. Everything is coming to a head when there is still lots to do before the snow flies. It's crunch time. So much do to in so little time. At least Farmbucks is here to make things just a tad bit easier for you. Markets made a slight recovery this week and we found some unbelievable prices among various crops. Check out our deals of the week below.
Also, if you don’t want to wait until Fridays to get the most up-to-date pricing data, just download the Farmbucks app. You’ll get it as fast as your thumb can reload a page! Harvest is almost over and for crops that aren’t already forward sold, it’s time to play marketer. What better way to play the game than with Farmbucks—it’s like having cheat codes in your back pocket. No competitor comes close to providing the volume of bids like Farmbucks.
Weekly Market Recap:
Markets rebound this week. Tuesday's StatCan crop report lowered most yield estimates for our crops. The accuracy of this report is questionable as it is model-based (not farmer-based) and it did not change the harvested area to account for any abandoned acres. It is assumed that once harvested acres are adjusted, many production numbers could still be revised lower.
Deals of the week: $11.35/bu 1 CWRS 13.5, $8.00+/bu barley,
$7.00/bu oats, $39.00/bu flax
Canola: Tuesday, canola flew back up to $900/MT for a very brief moment after StatCan released a forecasted canola production of just over 12.7 million tonnes. Canola futures failed to hold onto those strong gains though and continues to trade in a sideways pattern at high levels.
Soybeans futures are bouncing around, not really giving any indication of which way it really wants to go at this time.
Wheat: Wheat markets rebounded nicely this week. If corn can keep adding to its strength then wheat should follow. On Tuesday, StatCan simply confirmed the small wheat production and was in line with estimates.
Barley: Some good $8.00+/bu feed barley bids came back. Corn made a nice recovery this week with decent demand in the market, which helps support higher barley prices.
Peas: Pea prices have been fairly quiet this week with little action on bids and prices.
Oats: Oat futures hit a record high this week. StatCan released a lower-than-expected production number of just 2.5 million tonnes. Bids have increased everywhere this week and we are even finding $7.00/bu for conventional oats!
Around the farm: Frost! We needed a frost to help kill off some of these plants and it finally came last night. It feels like we didn't get much combining done this week but we did manage to get lots of other field prep work and fence work completed. We started up the combines when we could and pulled off a few hundred acres more of canola in between some small rains. Without combining the field edges or low areas the canola is testing dry and looking like it’s all #1! It looks like we have only one more week of daily highs hitting above 15°C so I will push to get the bulk of the canola off. Wish me luck!
Cheers to those who are done harvest or can see the light at the end of the tunnel!
And cheers to those who aren’t there, either!
Hope you all have a great weekend!