A quick update on grain markets and trading opportunities!
… And let’s be honest, without the use of magic to wrap up harvest in a single night, Santa would probably be a pretty lousy farmer too!
Glad he found his niche though! He does a great job running things up north!
Anyhow… This email isn’t really about Santa. It’s about you!! And how much we appreciate you reading our newsletters!
We know it isn’t always easy, and some aren’t as funny as others, but did you know, when you read an Agfinity newsletter from start to finish, a trader gets his wings!? … And we eat – a lot – of wings!
So, on behalf of everyone at Agfinity, thank you!! For feeding us, for trusting us, – for putting your grain on Agfinity.com, whether you knew it was on there or not. 🙂
We appreciate it and are beyond grateful!
Merry Christmas!!
From Lisa, Tracy, Amy, Joseph, Michelle & Jared
Current Commodities
– Courtesy of Agfinity’s Joseph Billett @JosephBillett
Beer advent Calendars creating rally in the barley Market!
Okay, that’s not totally true, but I thought it was a fun headline. Southern Alberta landed barley bids have softened a touch the week before Christmas, $218/MT or $4.75/bu level for Jan-Feb shipment. Buyers have seen heavy barley this year. Strathmore feeders seem to be bidding $207-208/MT or $4.51 – $4.53/bu for Jan-Feb delivery. Seasonally warm temperatures have reduced overall feedlot barley demand. With competitive corn rations plus mild winter temperatures, feed prices may edge lower into the new year as shipment picks up.
Buyers aren’t done with corn yet…..
As I write this, it may pertain more to wheat and barley than corn but many Lethbridge buyers are getting coverage out to February and first half March with barley and wheat. However many buyers intend on increasing their position on corn during spring breakup to mitigate muddy yards and road bans. Sellers keep this in mind when banking on spring premiums this year!
Canola is being naughty this holiday season
Canola is in trouble…March futures broke key support of $500/MT and seem to be hovering around that level currently. Weakness across the U.S soy complex in addition to technical selling blew a hole in Canola futures. The market is now cashing in on the Stats Can production numbers, right when China is easing up on their soybean and canola purchases.
India and Yellow Peas So…they say the domestic price of Yellow Peas in India has seen a rally. It appears India’s duties seem to be working. These higher prices could suggest a possibility of the duties being adjusted lower and imports may enter the market, but there is no anticipated timeline for this.
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