Grain Today - July 6, 2021
I realize that on the farm it is hard to take time during this busy season so I hope that everyone had a safe and relaxing long weekend.
I am sure that what is on your minds right now is the lack of moisture that just about everyone is experiencing right now. I have been traveling around southern MB and eastern SK in the last week and even though producers are saying its dry the crops are hanging in there. There is some early wheat that is super short and has dropped tillers and in some areas the canola is very patchy. After talking to producers this week the feeling I get is that the heat during last week did a tremendous amount of harm. Also hearing reports of cattle producers hauling water and sizing up the annual cereals as a possible source for feed.
This likely isn’t news to any of you as I think that our issues here in MB are the same across all 3 prairie provinces. The scary thing is that it has hit the northern plains states just as hard. It could be one of those years with great prices but hard to capitalize when your bins aren’t full. My brother Doug (35 years in the grain industry) always said that the best prices on a short crop year are likely going to be in the first 2 months of the year. This seems counter intuitive but until there are solid numbers on production everyone is sure there is no crop, so prices go up. Just something to keep in mind.
We have demand for feed barley at pretty good numbers - $7ish along the US border with prices moving down as you move north. Feed wheat is almost unavailable as the milling market has shown real strength in the last few weeks. We have some good prices for yellow peas. $10 in MB or southern SK. Greens just don’t want to follow the yellows up. Strong lentil and chickpeas as well. We haven’t traded any brown or yellow flax lately so have no idea on values. Still over 20 bucks I would guess and strong demand for heated/damaged canola.
Since I likely won’t be writing again until harvest, I would like to remind everyone to keep good bin samples of all crops. This is getting more and more important every year. The discounts that can happen due to poor sampling are not pretty. Also make sure that your grain handling equipment is flushed so that you don’t end up with GMO contamination from soybeans or corn in your first fields of peas, lentils or chickpeas. More buyers are insisting on GMO free product.
Have a safe and profitable harvest. Until September.
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