Well, I hope you have survived winter so far as it has been a very unpredictable one. Temps up and down like a rollercoaster. Big snowstorms in some areas, none in others. It just reminds me of the markets. I was talking to a producer on Friday, and he was wondering what to do. Markets had been up a bunch since the Ukrainian invasion and on Friday gave it all up. My suggestion was to just wait and see what Monday brought. Back up again. As I am writing this HRS wheat sits up 47 cents/ bushel US, canola is up $46/MT CAN and corn is up 35 cents US. With similar increases on Monday. There is no way to tell when it will settle down.
We have been seeing our buyers being very reluctant to bid this last week. They seem to be very concerned about being caught on the wrong side. Demand is still there for all commodities. Just further out time wise for movement. It has become harder to get new crop bids for off combine movement. Buyers are partly covered and waiting for some indication of what their end-users are paying before they own too much grain. Not saying prices will move down for sure but when you are at these levels there is much more downside than upside.
We do have good demand for heavy barley in MB and eastern SK. Over 50 lbs, under 13.5 moisture will be the specs required. If your barley fits in this range, then it would be $9.15 to $9.20 depending on location. Going south for pearling. If you have some, give us a call.
I mentioned snow earlier. I was wondering if some of you could take a second and reply with your location, depth of snowpack and if you had much soil moisture at freeze up. We will share what info we get with everyone to maybe give you a bit of a handle on where different areas are for potential moisture. Please don’t treat these questions like Stats Can. I.E., don’t make it up as you go. LOL. Garbage won’t help anyone.
One thing we still seem to have no trouble getting bids on is heated grains of any kind. And the values are pretty good considering the discounts that as example 35% heated canola would normally face. So let us know if you have some in a bin. The two things that are for sure is the quality won’t get better and blending is a risky way to fix a problem. The first loss is almost always the best one. So give us a call.
There seems to be a bit of sentiment on the yellow pea side of things that we might see a bit of renewed demand from the US. If so we might get back to the levels we had in 2021. Let us know what you have so we can keep you informed.
As usual we are here to help you with your price checking. If you have a price in mind don’t be afraid to share that with us. We are in the business of getting you the best price not just putting deals together. An indication or a target price helps us with that. We are seeing buyers willing to step up to a lot of reasonable offers from producers. Reasonable is important. $50/MT over the market isn’t going to trade. Where as $10/MT might.
So give us a call and we will help.
Until next month,
Marketer - Brandon, MB
204-729-1354 - Office
204-761-8320 - Cell