Well as we all know this is a day for the jokers to have a great time fooling their family, friends and coworkers with harmless pranks. Unfortunately, the world is in the grip of some pranksters who are not interested in creating laughs or anything resembling humor. Between the Ukrainian war (as there is no other way to describe it) and our useless government's response to this situation. This has created so much uncertainty in the world grain markets that no one can predict where it is going.
The only thing that we are finding that is consistent across the buyers we work with is no one wants to be caught in a long position. Everyone is buying hand to mouth. But the urgency we saw 3 months ago and then again when the Ukrainian war started seemed to have left the market. Prices on just about all commodities have drifted lower. There are still homes for everything that we have offered this month. But there is a big spread between what buyers and sellers think is a fair price.
Just a couple of interesting things I have run across this week in regard to supply and transportation. On the supply side we had a buyer who was looking for about 500 MT of good oats for a groating facility in the US. He was talking strong prices, possibly up to $10 in good freight locations. This sale vanished when the buyer found MB oats from a reseller for $1.00 bushel less in SE MB. This tells me that some buyers are solving their long positions proactively.
On the transportation side of things BN Rail has raised their fuel surcharge from $0.12/ mile to $0.47/ mile in the last month. Someone will have to cover that increase and I know you guys can figure out who will pick up the cheque in the end.
On the grain side just for interest’s sake I will mention the highest price for a commodity that we have ever traded (to date I will add) yellow mustard at $4650.44/MT delivered to Southern Saskatchewan. $186,000 for a super-b.
On a more ordinary note, barley is still trading around $390 to $400/MT, feed wheat $410 to $430 depending on location, milling oats $9, feed oats $6.50, brown flax $37, yellow peas $17, green peas $15. These are just general prices. If you would like, we are more than willing to get you firm bids picked up in your yard.
We do still have good demand for all commodities, especially heated canola. Premium prices considering the price of good canola, but it varies so much with quality.
Until next month,
Marketer - Brandon, MB
204-729-1354 - Office
204-761-8320 - Cell