October 7, 2024

Good Day,


Another month in the bag. Hard to believe that 2024 is ¾ finished. It has been an interesting year with changes for all. We have seen grain prices move back to nearer normal prices from where they have been in the past few years. I know. I can hear people saying, “This can’t be the normal, as I can’t make money at these levels” Unfortunately the market doesn’t care if you make money in the short term. Those of us that have been around agriculture for more than 40 years and following pricing and costs have seen this happen regularly. It is tough for anyone who has budgeted for $12 wheat, $16 canola, and $8 barley, but this dip is all part of the normal cycle. We haven’t seen a large number of producers forced out of agriculture since the 1980’s. Hopefully this drop isn’t as severe or as long as that go round. Hopefully, Quality Grain can help smooth out the bumps.


On that note, for us to be helpful you need to plan your cash flow requirements to make the most of our services. We can’t move your grain at top dollar and have cash in your hand the same day. We do have buyers that can move it quickly and get you paid promptly but you will pay for that service by getting a lesser price. It is a shame to have to take what the local elevator is offering you when the cash market is 20 to 40 cents better.


You also need to know what you must sell. Good bin samples are necessary. Accurate test weight and moisture are critical. And please don’t sell the grain, start loading the truck and see that the grain has a problem. (musty, heated, lumps etc.) and continue to load the truck. I can guarantee that there is only one entity in this process who will be penalized. Once the truck leaves the yard you will have to accept any deductions the end-user takes because of quality or pay the extra freight to get grain to a market that will use out of condition grain.


Things are not all doom and gloom. We have seen feed barley move off the lows of $3.75 in July to $4.50 currently. Hopefully, these prices will hold as the MB corn harvest is just getting started and growers are surprised at quality and quantity. Hearing 130 to 170 bushels/acre and 18 to 20 moisture. We have buyers looking for limited tonnage in the $5.30 range on Corn. We are seeing canola recover some of what Justin manages to take when he decided to go after the Chinese. Yellow peas are around the $10 FOB MB mark. Flax has shown some strength with harvest just getting started. $17.25 to $17.50. These prices that I mention are for grain in MB and SE SK. Freight always plays a part too.


Here in MB harvest is down to soybeans and corn now with just the odd bit of oilseeds and cereals to go. We have seen good yields and quality. Which is a bit surprising considering the damp cool spring we had then the endless heat of July. It seems the only crop that is a disappointment is canola. Straw for 60 and 40 in the tank.
 
In Manitoba we are looking for:

• 2 loads of 2 CW oats in MB. $4.10 to $4.30 depending on freight location. Oct move
  
• 10,000 bushels of #1 brown flax. $17.50 ish depending on freight. OND ship.
  
• 5 loads of #2, dry corn, $5.30 to $5.50 depending on location. Oct ship.
  
• We also have demand for feed barley. $4.40 to $4.50 OND movement.
  
• Copeland Malt quality barley $6.00 to $6.25 depending on location. Synergy is slightly lower value.
  
  
  

In Southern AB and Southwest SK we have seen a wide variety of qualities on cereals. Bushel weights range from plump and heavy all the way down to thin and light (barley range has been between 55 down to as low as 38 lbs). We are having many ask us what they should do with their light grain. I will echo what I said earlier. It is important to know what you have with good bin samples and it’s far easier to market your light grain when we know exactly what you have. If your 42 lbs barley is sold as 48 lbs there is a really good chance the truck is turned away at the feedlot at your expense or discounted heavily.


Some prices we have seen out west are $5.15/bus Barley FOB New Brigden AB and $4.70/bus FOB Cupar SK, feed wheat prices of $6.60/bus FOB Oyen AB. Yellow Mustard is in the 0.42/lbs picked up range, Red Lentils are $0.31/lbs FOB, Yellow Peas at $11.25/bus FOB Champion AB.


Don't forget Quality Grain Marketing can now take targets so be sure to call your broker and put in any targets you may want to be active.
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If you have positive comments contact [email protected]. If you have complaints contact [email protected]. LOL Until next month, Take care and farm with the future in mind.


Richard Chambers
Marketer - Brandon, MB
204-729-1354 - Office
204-761-8320 - Cell
[email protected]