Just a beer, no food! Well, maybe some pretzels. We want you to still get home for supper. A quick read amongst friends! A little something between our main bi-weekly newsletter to fill you in on current grain markets and trading opportunities.
What’s happening in Agriculture?
You know that nervous feeling you get when you open the fridge after being away for two weeks?
That’s a pint-sized feeling of Spring Harvest.
It may have been left out in the cold this winter, but so far, spring thrashed grain hasn’t been holding it against you. From quality to yield, spring harvest quality continues to be better than expected on all fronts.
Let’s hope this trend continues!
USDA REPORT
No real surprises in yesterday’s USDA report. Outlook for global soybean, corn and wheat inventories were up and overall grain stocks were increased. We believe markets will quickly refocus on weather and economic data for market direction.
In the midst of spring harvest, seeding prep, field prep, and soft yards we were wondering if you would have any grain that can load now!?!
It seems that if you want those sweet spring premiums you need to be able to sell and load your grain quickly, regardless of what the weather is doing!
Buyers are mostly covered for April, but when the grain they bought can’t load, they call us. And we call you!
Markets are stalled out as buyers and sellers await spring harvest quality reports. Sellers holding onto old crop feed grain should continue posting targets for April-May if they can load, June-July if they cannot. If you wait till later May, anticipate increased competition! … Unless you don’t mind holding till the spring of 2018…
What’s happened to the Milling Oats market?
Buyers have been able to secure enough good quality oats to get them through spring. While markets may rally again for July and August, new crop markets are poised for pressure, as plenty of acres seem to be going to oats this spring. If you have feed oats… we should be moving them now!
Should I be selling my Peas?
Greens? Probably. At around $8.50 delivered, this may be our last kick at the can for old crop greens. At around $9 delivered in many areas, yellow peas are more stable and should hold through summer. Or at least while Canada holds a hall pass on the India fumigation issue… Consider also booking in some new crop ($8-8.20 dlvd) as bids usually weaken by harvest time.
And what about forward pricing #2 CWRS…?
Patience should pay off on your hard red spring wheat. We’re watching for forward pricing premiums this spring/summer.
