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Market Report – by Nelson Neumann
Barley:Feed barley bids were relatively stable over the past two weeks. Barley is currently trading at a premium to corn in feedlot alley. Many buyers would prefer to be buying Corn at $247 and are making the switch. Despite this glass ceiling on the price, we are still seeing the market have some carry going outward, seeing over $260 for early 2019.
Wheat: The feed wheat market took a slide in price as there is an increase in supply hitting the market. Frost damage and wet conditions are the main contributors. Still seeing strong pricing especially for wheat that is harvested and can ship immediately. The milling spring wheat market is quite low and remains oversold. Expectations are for a rebound in pricing.
Oats: Milling oats pricing remains flat with some spot demand popping up. Producers are saying that the oat crop is looking quite good. Finding quick movement opportunities may be difficult as many buyers have contracts until November.
Canola:The Canola market is also seeing harvest price depression. Stats Canada reported decreased yield estimates for 2018’s crop but that failed to prop up pricing. Partly because of their datum on the 2017 carryout. Approximately 10% of last years Canola is remains in the bin up close to 80% from last years carryover amount.
Peas: Yellow pea pricing continued to trend upwards over the past few weeks despite some seasonal harvest price suppression. Delivered bids are around $6.50-$6.60/bushel Central Alberta-Calgary. Reports indicate we may continue to see an uptake into October.
With the northern part of the prairies still midway through harvest and the weather being uncooperative, many buyers are planning on seeing more feed come to market. Prices have not reflected this yet, but when combines are rolling and grain is more available we may see a price decrease. On the other hand, buyers are scrambling to buy new crop that they purchased off the combine and are paying premiums for grain that is harvested and able to ship, using this to cover their current sales. Waiting to put sales on until feed grain is secure in the bin is a safe strategy, but it’s everyone’s strategy. When harvest starts up again, this will most likely flood the market. Give us a call to talk on current opportunities.
Sellers take note: My thoughts are the same as 2 weeks ago. Corn is currently being traded in Lethbridge at $245MT. Again with corn, it’s a lot easier for a buyer to purchase 10,000MT of corn for the next 5 months in one deal, than multiple negotiations for 1,000MT of barley or wheat. Let us help be your voice to the buyer, taking your 440MT into 10,000MT by joining your offer with other offers all throughout western Canada. Call 1-888-969-5552 and let Jared(ext 1) or Nelson (ext 3) chase the market and get you the best opportunity.
“No matter who I talk to at Agfinity, you always take care of things. You guys are so great to work with!”
– James Taylor, Leslieville, AB
“Other buyers call me, and I always tell them that the best service I get is from Agfinity, and that you guys are who I market my grain through.”
– James Thompson, Millet, AB
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– Phillip & Glenda Collinge, Lloydminster, SK
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– Kurt Boese, Neilburg, SK
“For the past seven years I’ve been dealing with the Agfinity group and what a fantastic group of people they are. From number 1 to feed grain and canola. All the buyers at Agfinity can Make it happen. Fast turn around times on every thing. Movement, payment, and the inbetween that all of us farmers don’t see or care about. Good job to the Agfinity crew and keep on buying our grain.” – Drann Hogg, Huxley, AB
“Thanks for continuing to send out a newsletter. I read right through it every time, and look forward to crop price updates.”
– Orest Hulowski, Perryvale, AB
“Enjoy reading your newsletter and price updates keep them coming, good job.”
– Peter L .Gross, Standard, AB
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