As it is the first week of May it is time to share what Quality Grain has seen in the markets the past few weeks.
On the positive side for many producers there has been some moisture arriving either as rain or snow over the last half of April. I know that it was nowhere near enough precipitation, but it is good to see that it still can rain. Prices have been a positive during April as well. We saw prices pull back for a bit early April but there has been an aggressive rebound since.
Canola keeps cracking new highs. $20.60 FOB farm Glenavon for July. We have seen steady movement in feed grains all across the prairies. But it is very volatile. As an example last week we traded $8.50 plus for feed wheat in SE SK. The next day the best bids dropped by $0.33/ bus as the buyers achieved coverage. No one wants to be long at these prices so are only buying what is needed.
This is where Quality Grain can help you. If you see a good local price just send one of us a text, email or call and we will make sure that it is a good price. Let us know what you have and we can try to make sure you catch the next run. One thing to remember is that all bull markets do die and I know there are many farmers that joke about selling on the way down. That just shows that having a sense of humor is a requirement if you want to farm.
We traditionally over the last few years have seen the prices soften mid June and don’t recover to the highs of the year. This doesn’t mean this year will be the same but history does repeat itself.
There are still good prices available for most commodities. To give you an idea of what we are seeing I will list some of the bids we had last week. These are all picked up on farm:
Yellow Peas - $10.30 – Birtle MB
Feed Wheat - $8.60 – Maryfield SK
2 CW Oats - $4.20 - Brandon MB
Feed Wheat - $8.68 – Plumas MB
Barley - $6.68 - Biggar SK
Barley - $6.95 - Meeting Creek AB
Feed Wheat - $8.50 - Meeting Creek AB
Give us a call if you have any questions or comments. Until next month.
Quality Grain Marketing
John Falk Richie Yaremko
Marketer – Altona MB Marketer – Yorkton SK
Victor Dorma Reed McDonald
Marketer - Airdrie AB Owner/Marketer – Calgary AB.
Wes Schneider Howard Warren
Marketer - Vulcan AB Marketer – Champion AB
Robert Rusu Andrew Hall
Marketer - Moose Jaw SK Marketer – Lethbridge AB