Grain today - January 8, 2020
I hope everyone had a good holiday season and had the chance to spend time with family and friends.
The grain markets where very quiet during the Christmas break but that is normal. We have seen some buying interest in both feed barley and feed wheat in MB and eastern SK. Red lentils have been moving up slowly. We have bids of $0.235/lb picked up in SW SK now. This is a good thing as the yellow pea market is not making any progress. Back in November I was silly enough to say that it looked like there would be some strength in yellow peas in the new year based on signs pointing toward renewed export into India. This doesn’t look like it will happen and hence forth the markets have drifted lower. There are some $7.00 delivered bids in AB and western SK but not much better than $6.25 in eastern SK and Mb.
The milling oat market has been sitting at similar levels to what it was in November. The values for delivered US oats have moved up a bit but strength in the Canadian $ has trimmed 15 to 18 cents/ bus of any possible price increase. We did trade some #3 CW oats in the Brandon area at $3.60 picked up for Jan movement yesterday.
Rye has been slow with the Canadian buyers not finding much demand from the US mills. This along with the stronger CAN dollar is keeping bids from moving up. We do have interest so let us know if you still have unpriced rye.
Feed wheat markets are still over loaded with too much tough feed wheat. If you have tough grain of any kind be sure to pull the tops on your bins to make sure it is staying in condition. We are already seeing some very tough wheat (18-20% moisture) that has started to heat. We are seeing bids of $5.00 for dry (<14.9% moisture) with discounts of $5/MT/ point moisture to 17%, in Fleming SK area. Which is right on MB/SK border and on #1 HWY. Bids drop off from there depending on freight cost and availability. If your wheat is over 17% moisture the discounts become very large.
Feed wheat bids into Lethbridge have softened $10-15/MT in the last month with the volumes that are coming to market. Still could get $230 delivered but that is down a bunch from Nov/Dec. The feedlots don’t mind tough grain as it saves them having to temper it before rolling. Mind you they take the $5/point/MT discount just like everyone else.
We had a nice run on barley in the few days since New Year with $4.00 in your pocket picked up in SW MB and SE SK trading. With better numbers as we moved east. Looks like just today all the buyers have backed off their bids by $5-10/MT. we are not sure why but trying to get answers to that. I think if we could get offers of $4 picked up along the SK/MB border we could likely trade that.
The next topic is one I hope you never have to deal with…. Heated canola!! We are seeing increasing amounts of it showing up as winter goes on. A word of caution be sure to monitor your bins. Even if you put it in dry. We have seen horror stories of 10,000 bus bins of canola that average dry when harvested being 25% heated. It seems that this year there are pockets forming in the bins which start the problem and by the time the cables find it you can’t separate the heated from the good. We do have decent markets with good movement if you have the misfortune to have this happen to some of your canola. Give us a call and we can help you with marketing it.
I have been thinking that I should introduce you to our team so here goes.
66 year young, Diploma in Agriculture in 1975
Was involved in municipal politics for many years both as councilor and reeve.
Farmed south of Winkler MB for 35 years.
Lives in Altona MB – retired grain grower, both corn and small grains. Drove truck for one of the grain companies in Se Mb for 5 years after he retired so he has a good idea on what is required to make movement of grain work well.
Been with Quality Grain for 3 years. John is our go to guy for corn as he knows many corn growers in the Red River valley. If you want to touch base with him the best bet is his cell 204-362-0167.
More bios next month. Have a good day and give us a call if you have something you would like some help with price discovery.
If you would like to follow what we are trading on a day to day basis just follow Reed on Twitter: @QGM_Grain or check out our website for what we have available. www.QualityGrain.ca
John Falk Richie Yaremko
Marketer – Altona MB Marketer – Yorkton SK
Victor Dorma Reed McDonald
Marketer - Airdrie AB Owner/Marketer – Calgary AB.
Marketer - Vulcan AB
204-729-1354 – office
204-761-8320 - cell
Comments are closed.