Grain Today - November 2022
There are two things we seem to have no control over, the weather – down 18 degrees from yesterday, and the markets. Wheat was up 45 cents Monday/Tuesday and down 60 cents Wednesday/Thursday. The weather we are used to, but this kind of variability in the markets is making it extremely difficult to predict where things are going.
It has been another busy month at Quality Grain. We have been shown all kinds of grains and all kinds of qualities too.
Here is one of my little frustrations in this business. A producer calls us and we find him a great price with a new buyer. The grain moves, everyone is happy. Then to save the brokerage fee the producer decides he will sell to that same buyer. This might work, but more likely he has shot himself in the foot. The buyer knows he doesn’t have to compete, so they can bid less. And all of a sudden, the brokerage was pretty cheap. I know I am biased because that is the service we offer but I have never done a deal that cost the producer based on prices at that time. That is why we have no problem kicking tires for you. Everyone needs a reliable broker for no other reason to check and make sure the price they have found is the best price out there.
As I mentioned before, the prices are a roller coaster this year. Ex) we booked $12.50 to $13 for Yellow Peas 10 days ago for November movement in SE SK and SW MB. Today we are down 50 cents from those bids. But with the dollar slipping again we will regain some of the losses, I think. We have also seen delivered and picked up barley prices in Alberta give up $15 to $20 from 2 weeks ago. Seems the feedlots have coverage, and they are also landing US corn at good values which takes some pressure off.
We have been trading up to $8.00 for feed barley in the same area as the peas. It needs to be 13.5% moisture and ideally 50 lbs bus weight. Today we would need an offer to make it happen but let us know if you are interested. I will also remind you that we have good markets for heated or green canola, feed wheat, milling and feed oats. As always, we need good information: test weight (ideally grams/0.5l), moisture, grade if you have it and for some crops a picture really helps. If anyone has yellow mustard, we do have serious buyer demand for it.
We do have a buyer in Western MB looking for 200 MT of corn a month for the next 8 months. If anyone has interest in filling all or part of that let us know. $400/MT del is an indication. If you have feed wheat, we have homes for it too.
Before I sign off here are some prices that have traded recently: Southern Manitoba feed peas for $12/bus picked up, northern MB barley for $7.25/bus picked up, NW SK barely $8.00/bus picked up, Southern Alberta Feed Wheat for $11.00/bus picked up. We have good demand for 1 CW clean Rye in Southern Alberta (Jan/Feb/Mar movement).
Till next month.
Marketer - Brandon, MB
204-729-1354 - Office
204-761-8320 - Cell