Well, I just put 2024 in the heading for this newsletter. It makes me wonder what changes we will see in the grain industry this year. Last year we went from good strong prices in the winter to much lower prices at harvest. Unfortunately, the trend has continued. We are $20/MT down on feed barley from the harvest prices. This is unusual as we normally get a bit of a bump as winter progresses. So far this January it hasn’t played out that way. Still struggling with US corn moving into Alberta by rail and also by truck into eastern SK and MB. We would see even lower corn prices in MB if there was more truck movement available.
Oats have also followed the trend down with many of our buyers covered till April or even June. We have had some buyers in the market at $5.00 picked up for 2 CW milling quality in eastern SK or the very west edge of MB. The spread to feed oats isn’t as big as some years. We have bids in the $4.10 to $4.25 range in the same area. I should maybe take this time to address my pricing. I work out of Brandon. Most of my customers are in MB and eastern SK so that is why I lean hard on those areas when quoting prices. Please forgive me for this.
Pulses are the one thing that is holding value. Good bids on both red lentils around $0.37/lbs and green lentils $0.70. We saw a great run up on yellow peas just before Christmas. Topped out at $14.00 in AB, $13.50 in SK and $13.00 in MB. Prices have cooled since then ($11.50 western MB), but I think we have moved a big chunk of the yellows for this crop. This will likely keep prices from dropping too low. So far we haven’t seen the price bump in December translate into better new crop bids to any degree. Green peas are still strong ($17.00) with maples ($24.00) and chickpeas (low 0.50s) holding firm too.
I know I sound like a broken record but please keep an eye on your bins. If you haven’t pulled 10% of the bin volume out of them and confirm that all is as it should be. Please do. We have seen many times the first load comes out and is tough, heated or has bugs. This isn’t just in canola either. Rye, malt barley and oats have been a problem. It is likely a good thing that so many yellow peas are moving December through Jan so that we won’t have near the issues this year as has shown up in peas some years.
Since the prices for all commodities are lower than they have been for a few years this might be a good time to consider shopping for new crop prices. We are very happy to help you with that. If you would like us to help, just call, Tx or email one of our Brokers and let him know what you are considering growing. It is good to let us know the variety, if spraying with a desiccant at harvest, how many acres, what timeframe you would like for movement and if you require an Act of God clause. This is usually only available on pulse crops commonly at 10 bushels/acre (negotiable).
That is about it for this month. Keep checking our weekly price updates and until next month stay safe. Don’t hesitate to call if you have questions or comments.
Till next month,
Marketer - Brandon, MB
204-729-1354 - Office
204-761-8320 - Cell