Sometimes, there’s lots to talk about, but not a lot to say.
“When I was a kid,” my dad told me last week, “I remember being with with my dad and a few farmers on a hot summer’s day. When Grandpa worked as a ditch-rider down in southern Alberta irrigation country, he and some of the farmers would sometimes stop to chew the fat. Like the water, the conversation didn’t always flow and there were moments where one of them would help continue the conversation simply by saying ‘Yup’. And twenty or thirty seconds would pass and another one of them would chime in with another ‘Yup’… I remember watching in awe as this went back and forth for six or more yups!”
Being a grain broker, I identify with this story. A broker’s job is to push the conversation forward. If it stalls out, value is not being provided or we’re wasting time. I have always struggled with this idea though. Time is a commodity – most of us agree with that. But how does one gauge the quality and contents of time?
I have always refrained from interrupting people. When others are speaking, I hold back jokes, witty comments, criticism and even praise, waiting for the perfect opportunity to share. To the outspoken community, I have done a huge disservice. But I would argue, the value I’ve received in listening has far outweighed what I’ve given up in silence.
Take the farming community for instance. Every one of you is filled with knowledge, ideas and marketing tidbits. For this reason, I’ve been keen to listen to you on our calls. Though you might get off the phone thinking you’ve extracted marketing gold from me and the other Agfinity brokers, you’ve given us as much and more in return.
We are information farmers. Our combine harvester is conversation, our farm hand is listening, and our greatest fertlizer trick is the ever-agreeable “Yup”.
Here’s a sample conversation from this past week:
Farmer Dave: “Canola – she sure is in the politician’s pockets these days…”
Me: “Yup…”
Farmer Dave: “Yup… And there’s nothing motivating me to grow it this next year.”
Me: “Yup. I hear you there.”
Farmer Dave: “Yup. But the new crop barley bids look pretty attractive, eh?”
Me: “Yup. They sure do, Dave.”
Farmer Dave: “… Think you can get me $4.50 picked-up in Red Deer?”
Me: “Now, we’re talking!!”
Farming is Forever,
Jared Seitz
@JarrySeitz Follow us on Twitter
1-888-969-5552
Market Report – by Nelson Neumann
Barley: The feed barley markets heated up over the past two weeks but have begun to simmer back down recently. In the past weeks bids shot up over $10/MT seeing as high as $272/MT trade into feedlot alley. Buyers were looking to secure coverage before road ban season starts and supply diminishes. Since then buyers have been able to buy around $268 and that appears to be trending downwards. I would consider the outlook to be neutral going forward. New crop barley contracts seeing pricing of $230/MT September through October. Securing a profitable level during a spring summer pricing rally could prove to be a wise option, with Canola struggling barley may have greater acreage for 2019.
Wheat: After continuing to slide yesterday March 12th, the markets closed $20-$24.50/MT higher depending on the month. This may be dead cat bounce due to technical selling. An important thing to consider when looking at cash prices is the end net price. Delivered bids may increase April/May but with road bans in effect the increased cost of freight may make the picked-up number not as enticing.
Oats: The oats market is a bright spot in a sea of gloom. Low supplies are driving up the price. Seeing pricing at around $3.70 delivered Edmonton area and as high as $4 into Manitoba. Feed oats also rode the coattails of the barley pricing rally and are trading at last years milling pricing.
Canola: The Canola markets have continued to take beating after beating. The big news was China blocking Pioneer Richardson exports. Canola makes up ~70% of food exports into China and Pioneer is the largest exporter. They have started buying soybeans again from our neighbors to the south but only 10% of what was proposed.
Peas: Yellow pea pricing continues to slumber undisturbed. Seeing $7.00-$7.25 delivered. The market is in a wait and see position at the moment. Green Peas have rallied with the $13 number being flirted with. The main reason driving up price is low supplies. These prices are not going to carry over into 2019 with new crop bids $4.50/MT less.
Nelson Neumann
Jr Trader
Nelson@Agfinity.com
The Feed Buyer Brief – by Joseph Billett
I wrote this at the end of my buyer brief 2 weeks ago. Demand is king. If margins are not available over the summer for keeping cattle on feed they will be sold or shipped south. After April – May, tonnage is bought based on how much supply will be needed to get to harvest and if buyers think demand supports current prices. This appears to be happening in spades right now. Spot selling seems to be happening for the feedlots and end users as long as trucks are available. This means that the desperation to buy has passed. Buyers are still interested in March – April, but won’t be pushed on price now because they have a neighbor that they can buy it from cheaper. April – May is still generating premiums but we’re seeing that window close daily. We have buyers looking for #2 Oats and still many homes for Green and or Heated Canola as well. Let us find you the best opportunity!
Something to think on: Two weeks ago we hit the market high; however, these markets don’t seem to move quickly and prices for the time being seem to be trending down for old crop and new crop alike. Now is still a good time to book new crop barley at these strong levels, but buyers are having an easier and easier time securing product and bids are backing off daily.
Let me know your thoughts! @JosephBillett Follow us on Twitter
March: $4.15-4.20/ bushel
April-July: $4.25-4.35/ bushel
NEW CROP:
Sept-Oct: $3.50/ bushel
Nov-Dec: $3.60/ bushel
Jan-Mar: $3.65/ bushel
Apr-June: $3.70-3.75/ bushel- FEED WHEAT @ the bin:
March-April: $5.35-5.50/ bushel
May-June: $5.40-5.50/ bushel- #1/2 CPSR WHEAT:
March-July: Feed pricing currently stronger.
#1/#2 HRS Wheat:
March-May: $6.40-6.90/ bushel picked-up based 13-13.5% protein.
– 2CW OATS @ the bin (subject to sample):
March-April 2019: $3.00/ bushel
May-August 2019: $2.85-2.95/ bushel
*Higher pricing available for excellent colour.
– 3CW OATS @ the bin:
$0.10-0.25/bushel discount to 2cw bids.
– FEED OATS @ the bin:
March-April: $2.20-2.30/ bushel, depending on quality
– 2CW GREEN PEAS @ the bin:
Max 3% bleach:
March-May: $10.75/ bushel
– 2CW YELLOW PEAS @ the bin
March-May: $6.35/ bushel picked-up
– FEED PEAS @ the bin
March: $6.00/ bushel
– 2CW FABAS @ the bin:
March-May: $9.80/ bushel
– FEED FABAS @ the bin
March-May: $6.00/ bushel
– CANOLA @ the bin (as of March 13th):
Based Max 2% Green!
March-April: $9.50-9.60/ bushel
May-July: $9.70/ bushel
Call Jared, 1-888-969-5552, ext 1
Mar: $4.55-4.65/ bushel
Apr-Aug: $4.70-4.75/ bushel
NEW CROP:
Sept-Oct: $3.85/ bushel
Nov-Dec: $3.90-3.95/ bushel
Jan-Mar: $3.95-4.00/ bushel
Apr-June: $4.00-4.10/ bushel- FEED WHEAT @ the bin:
March- 1st 1/2 April: $5.80-5.90/ bushel
Last 1/2 April – June: $5.85-5.95/ bushel
… Good protein? Falling # 285-300 or better? We are seeing an additional $0.25/bu.
– #1/2 CPSR WHEAT:
March-May: Feed pricing currently stronger.
#1/#2 HRS Wheat:
March-May: $6.50-7.00 picked-up based 13-13.5+% protein.- 2CW OATS @ the bin (subject to sample):
March-April 2019: $3.05-3.20/ bushel
May-August: $3.05-3.15/ bushel
– 3CW OATS @ the bin
$0.10-0.25/bushel discount to 2cw bids.
– FEED OATS @ the bin
March: $2.60-2.75/ bushel, depending on quality
– 2CW GREEN PEAS @ the bin:
Max 3% bleach:
March-May: $11.20/ bushel
– 2CW YELLOW PEAS @ the bin
April-May: $6.65-6.75/ bushel
– FEED PEAS @ the bin:
March-June: $6.00-6.25/ bushel
– 2CW FABA BEANS @ the bin
March-May: $10.20/ bushel
– FEED FABAS @ the bin
March-May: $5.90-6.00/ bushel
– CANOLA @ the bin (as of March 13th)
Based Max 2% Green!
March: $9.75-9.90/ bushel
April-July: $10.00-10.10/ bushel
March: $4.80-4.85/ bushel
April-August: $4.90-5.00/ bushel
NEW CROP:
Sept-Oct: $3.90-4.00/ bushel
Nov-Dec: $4.05-4.10/ bushel- FEED WHEAT @ the bin:
March: $6.00-6.10/ bushel
April-June: $6.05-6.15/ bushel- #1/2 CPSR WHEAT:
March-July: Currently lower than feed.
#1/#2 HRS Wheat:
March-July: $6.50-6.85/bu picked-up (13-13.5% protein).
– 2CW OATS @ the bin (subject to sample):
March-Apr 2019: $3.40-3.45/ bushel
May-August 2019: $3.35-3.40/ bushel
– 3CW OATS @ the bin:
$0.10-0.25/bushel discount to 2cw bids.
– FEED OATS @ the bin:
March-April: $2.75-2.90/ bushel depending on quality
– 2CW GREEN PEAS @ the bin:
Max 3% bleach:
March-May: $11.50/ bushel
– 2CW YELLOW PEAS @ the bin
March-May: 6.75/ bushel
– FEED PEAS @ the bin
March-April: $6.30-6.50/ bushel
– 2CW FABAS @ the bin:
March-May: $10.25-10.50/ bushel
– FEED FABAS @ the bin
March-May: $6.25-6.40/ bushel
– #1 CANOLA @ the bin (as of March 13th)
Mar-April: $10.20/ bushel
May-Jun: $10.25-10.30/ bushel
Call Nelson, 1-888-969-5552, ext 3
– FEED BARLEY @ the bin:
March: $4.95-$5.00bushel
April-May: $5.00/bushel
June-July: $4.95-$5.00/bushel
– FEED WHEAT @ the bin:
March: $5.85-$5.90/bushel
April-May: $5.90-$5.95/bushel
June-July: $6.00/bushel
** If graded a feed but is dry and has adequate protein (13%+) and falling number over 300, there is a premium available ***
– 2CW OATS @ the bin (subject to sample):
March-April: $3.35
– 3CW OATS @ the bin:
$0.10-0.25/bushel discount to #2CW bids.
– FEED OATS @ the bin:
March-April: $2.80-$3.00/ bushel depending on quality.
– GREEN PEAS @ the bin:
March-April: $11.40/bu picked up
3% bleached or less – call for higher bleached.
– YELLOW PEAS @ the bin
March-April $6.65 picked up
– FEED PEAS @ the bin
March-April: $6.15-6.35/bushel
– FEED FABAS @ the bin
March-April: $6.25-$6.50
Call Jared, 1-888-969-5552, ext 1
– FEED BARLEY @ the bin:
March: $5.00/ bushel
April-August: $5.10-5.15/ bushel
NEW CROP:
Sept-Oct: $4.20/ bushel
Nov-Dec: $4.30-4.35/ bushel
– FEED WHEAT @ the bin:
March-April: $6.20-6.35/ bushel
… Good protein? Falling # 285-300 or better? We are seeing an additional $0.25/bu.
– #1/2 CPSR WHEAT:
March-July: Feed pricing is currently stronger.
#1/#2 HRS Wheat:
March-July: $6.50-6.85/bu picked up based 13-13.5% protein.
– 2CW OATS @ the bin (subject to sample):
March-May: $3.40-3.50/ bushel
June-August: $3.30-3.40/ bushel
– 3CW OATS @ the bin:
$0.10-0.25/bushel discount to 2cw bids.
– FEED OATS @ the bin:
March-June: $2.90-3.10/ bushel, depending on quality
– 2CW GREEN PEAS @ the bin:
Max 3% bleach:
March-May: $11.63/ bushel
– 2CW YELLOW PEAS @ the bin
March-May: $6.90-7.00/ bushel
– FEED PEAS @ the bin:
March-April: $6.50-6.65/ bushel
– 2CW FABAS @ the bin:
March-May: $10.60-10.65/ bushel
– FEED FABAS @ the bin
March-April: $6.40-6.50/ bushel
– CANOLA @ the bin (as of March 13th)
March: $10.20-10.25
April-July: $10.30-10.40/ bushel
Call Jared, 1-888-969-5552, ext 1
– FEED BARLEY @ the bin:
March: $5.10-5.20/ bushel
April-August: $5.20-5.30/ bushel
NEW CROP:
Sept-Oct: $4.25/ bushel
Nov-Dec: $4.35-4.40/ bushel
– FEED WHEAT @ the bin:
March: $6.15-6.25/ bushel
April-June: $6.30-6.40/ bushel
(Good protein? Falling # 285-300 or better? We are seeing an additional $0.25/bu.)
– #1/2 CPSR WHEAT:
March-June: Feed Wheat bids currently stronger.
– #1/#2 HRS Wheat:
March-June: $6.50-6.90/bu picked-up based 13-13.5% protein.
– 2CW OATS @ the bin (subject to sample):
March-May: $3.40/ bushel
June-August: $3.40-3.45/ bushel
*Additional premiums available for excellent colour!
– 3CW OATS @ the bin:
$0.10-0.25/bushel discount to 2cw bids.
– FEED OATS @ the bin:
March-April: $2.90-3.10/ bushel
– 2CW GREEN PEAS @ the bin:
Max 3% bleach:
March-May: $11.50/ bushel
– 2CW YELLOW PEAS @ the bin
March-May: $6.90-7.00/ bushel
– FEED PEAS @ the bin
March-April: $6.75/ bushel
– 2CW FABAS @ the bin:
March-May: $10.50/ bushel
– 3CW FABAS @ the bin:
March-May: $9.25/ bushel
– FEED FABAS @ the bin
March-May: $6.40-6.50/ bushel
– CANOLA @ the bin (as of March 13th)
March-April: $10.20/ bushel
May-July: $10.30-10.40/ bushel
Call Nelson, 1-888-969-5552, ext 3
– FEED BARLEY @ the bin:
March: $5.00-5.05
April-May: $5.05-$5.10
June-July: $5.05-$5.10
– FEED WHEAT @ the bin:
March: $6.00/bushel
April-May: $6.00-$6.05
June-July: $6.00-$6.05
– 2CW OATS @ the bin (subject to sample):
February-March: $3.45/bushel
– 3CW OATS @ the bin:
$0.10-0.25/bushel discount to 2cw bids.
– FEED OATS @ the bin:
February-March: $2.90-$3.10/ bushel depending on quality.
– GREEN PEAS @ the bin:
March-April: $11.40-$11.50/bushel
Max 3% bleach: *Call or email on higher bleach.
– YELLOW PEAS @ the bin
March-April: $6.80/bushel
– FEED PEAS @ the bin
March-April: $6.75/bushel
– FEED FABAS @ the bin
March-April $7.00/bushel
Picked-Up Red Deer Area Bids
Call Jared, 1-888-969-5552, ext 1
– FEED BARLEY @ the bin:
March: $5.20-5.25/ bushel
April-July: $5.25-5.35/ bushel
NEW CROP:
Sept-Oct: $4.35-4.40/ bushel
Nov-Dec: $4.45-4.50/ bushel
Jan-Mar: $4.50/ bushel
Apr-June: $4.55-4.60/ bushel
– FEED WHEAT @ the bin:
March: $6.25/ bushel
April-June: $6.25-6.40/ bushel
… Good protein? Falling # 285-300 or better? We are seeing an additional $0.25/bu.
– #1/2 CPSR WHEAT:
March-July: Currently under feed values.
#1/#2 HRS Wheat:
March-June: $6.50-7.00/ bu picked-up based 13-13.5% protein.
– 2CW OATS @ the bin (Subject to sample):
March: $3.30-3.40/ bushel
April-August: $3.35-3.45/ bushel
*Additional premiums available for excellent colour.
– 3CW OATS @ the bin:
$0.10-0.25/bushel discount to 2cw bids.
– FEED OATS:
March: $2.80-3.00/ bushel, depending on quality
– 2CW GREEN PEAS @ the bin:
Max 3% bleach:
March-May: $11.50/ bushel
– 2CW YELLOW PEAS @ the bin
March-May: $6.90-7.00/ bu
– FEED PEAS @ the bin
March-April: $6.75-6.90/ bushel
– 2CW FABAS @ the bin:
March-May: $10.40/ bushel
– FEED FABAS @ the bin
March-May: $6.50/ bushel
– CANOLA @ the bin (as of March 13th)
Feb-March: $10.20-10.30/ bushel
April-July: $10.40-10.50/ bushel
Picked-Up Coronation Area Bids
Call Nelson, 1-888-969-5552, ext 3
– FEED BARLEY @ the bin:
March: $5.15/bushel
April-May: $5.20
June-July: $5.25
*premiums can be found for barley 52 lbs/bu
– FEED WHEAT @ the bin:
March: $6.20/bushel
April-May: $6.20-$6.25/bushel
June-July: $6.30
– 2CW OATS @ the bin (subject to sample):
March-April: $3.38/bushel
– 3CW OATS @ the bin:
$0.10-0.25/bushel discount to 2cw bids.
– FEED OATS @ the bin:
March-April: $2.80-$3.00 depending on quality.
– GREEN PEAS @ the bin:
March-April: $11.58/bushel
Max 3% bleach
*Call or email on higher bleach.
– YELLOW PEAS @ the bin
March-April: $6.80/bushel
– FEED PEAS @ the bin
March: $6.50/ bushel
– FEED FABAS @ the bin
March: $6.15-$6.25/ bushel
Call Nelson, 1-888-969-5552, ext 3
– FEED BARLEY @ the bin:
March: $5.40-$5.45
April-May: $5.45
June-July: $5.50
– FEED WHEAT @ the bin:
March: $6.35/bushel
April-July: $6.40-$6.45/bushel
** If graded a feed but is dry and has adequate protein (13%+) and falling number over 300, there is a premium available ***
– 2CW OATS @ the bin (subject to sample):
March – July: $3.35-$3.50
– 3CW OATS @ the bin:
$0.10-0.25/bushel discount to #2CW bids.
– FEED OATS @ the bin:
March – April: $3.00-$3.25/ bushel depending on quality.
– GREEN PEAS @ the bin:
February – April: $11.50-$11.75/bu picked up
3% bleached or less – call for higher bleached.
– YELLOW PEAS @ the bin
March – April $6.95 picked up
– FEED PEAS @ the bin
March – April: $6.50-$7.00/bushel
March: $5.35/bushel
April-May: $5.40-5.45/bushel
June-July: $5.50/bushel
March: $6.40-$6.45/bushel
April-May: $6.45-$6.50
June-July: $6.55- FEED OATS @ the bin:
March-April: $2.80-$3.00/ bushel depending on quality.
– GREEN PEAS @ the bin:
March-April: $11.34/bu picked up
– YELLOW PEAS @ the bin
March-April: $6.60/bushel picked up
– FEED PEAS @ the bin
March-April:$6.60/ bushel
Dlvd Lethbridge / Picture Butte Bids
Call Nelson, 1-888-969-5552, ext 3
– FEED BARLEY :
March: $5.78/bushel
April-May: $5.80/bushel
June-July: $5.75-$5.80/bushel
– FEED WHEAT :
March: $6.80-$6.85/bushel
April-May: $6.80-$6.85bushel
June-July: $6.85/bushel
– FEED OATS :
March-May:$3.55/ bushel depending on quality.
– GREEN PEAS :
March-April: $12.00
*Based 3% bleach. Higher % bleached give us a call!
– YELLOW PEAS
March-April: $7.00
– FEED PEAS
March-April: $7.00-$7.15/ bushel delivered
– FEED FABAS
March-April: $7.00-$7.50/bushel delivered
– Jim Majeski, Camrose, AB
– 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