I hope this note finds everyone making great time with their harvest. Some locations are being held up with iffy weather but on average harvest has moved along fairly well. All reports we are getting are average to above average yields and really good quality. Pulses seem to be grading 1 and 3. With milling wheats largely #1 with good protein and better than average yields. We have not talked to anyone with durum grades or yield info. If someone has some in the bin would appreciate an update on yield and quality.
The barley yields seem to be above average other than a couple of pockets that missed that 1 rain which barley always needs. Quality is excellent. Good bushel wt, lower protein, great germ, no chit so that means there will be lots of malt quality barley around. Now we just need to get sports fans back in the stands and drinking beer so there is somewhere to sell all this great barley. Another fall-out of Covid. Right now feed barley is trading at $210 delivered Lethbridge for Sept delivery and $3.30 to $3.50 picked up in western MB and eastern SK. Better prices as you move further west. Freight availability is playing a big part in the markets just like it does every fall. As bids are $230 for Jan/March delivery it makes me think we will see better prices as we move away from harvest pressure.
We are seeing good quality and yield in the MB oat crop as well. 100 to 150 bushels and 245g/.5l (43lb) or better for bushel weights. Not likely will we see the run up on oats that happen this past spring where even spring thrashed oats where bringing good dollars. Right now trading $3 picked up for oats in MB and SE SK for further out. Prompt movement is at a 20 to 30 cent discount. Buyers are moving their new crop contracts before they start looking for more.
Yellow peas are still struggling to get much over $6 in MB. Bit better prices in AB as west seems to be the direction of shipping so far. We do have a buyer looking to contract yellows for the 20/21 crop year in MB. They will have a premium for early sign up. We will keep you posted as we get pricing. We are seeing more buyers moving towards no glyphosate for pre harvest on peas and I have talked to several growers who have been less than impressed with the dry down they have got from Heat. If anyone has some tips as how to make this work better, I would love to hear so we can share it with other growers.
The pipeline for both brown and yellow flax is basically empty. We are still seeing good new crop bids on flax. $13.50 for 1 CAN picked up SW MB. There seems to be a bit more flax in the ground this year so will be interesting to follow this market. If you want us to kick some tires for you don’t hesitate to contact one of us.
That is about it for now. If you have questions let us know. If you have positive comments send them to me. If they are complaints send them to Reed. Until next month.
Have a safe and smooth harvest.
Since my last newsletter we have seen all the feed grains under pressure with producers trying to make space for the new crop. We have seen feed wheat drift down to $5.20 in western MB to maybe $5.40 in the Winnipeg area. As of right now I would say there is going to be very little feed quality wheat around this fall. To date all of the wheats are coming off with good grades which is going to make producers reluctant to sell into feed bids. But as we all know that could change if we get 3 weeks of crappy weather. Yields have been good as well with HRS wheats running from 55 to 80 depending on soil type and if that rain came at the right time. Grading #2 or better. Good protein as well. There still is some old crop feed wheat available if anyone is interested.
We are seeing very good barley yields with 90 to 120 being the norm this year. Good bushel weight, no vom to speak of and only the odd location has ergot. Feed barley prices are much lower than last year. $3.30 in western Mb to $3.50 in eastern MB. Not much selling as growers just don’t like the price. Right now there is enough moving to keep prices where they are for now. It will be interesting to see if all the damage in the corn crop in midwestern US actually translates into higher corn prices. New crop corn $170 fob farm MB. Oct/Nov movement. The feed pipeline is not empty like last year so for that to happen it will take time. Feed lots in AB are buying all the grain they want right off combine for $200/Mt delivered.
We have seen a few feed quality yellow peas being offered (hail damage) these are trading in the $230 -240 delivered range into MB. I don’t know if anyone is thinking of putting them in their ration as most locations would have local peas available if interested.
Give us a call if you have any questions or just need prices for you ration formulation. Until next month.