For the vast majority of the Ag Industry, 2021 has been a year full of uncertainty. High commodity pricing due to low supply in the early spring led many producers to contract what they thought were modest amounts of their upcoming harvest. Months later, the effect of consistently low precipitation levels and high heat have turned things around. For many producers, what was once a conservative amount to contract is now above projected yields for the upcoming harvest, creating a difficult situation for producers and grain companies alike. In many situations, flexibility to change or wash the contract have started to interfere with the bottom line.
If there’s one thing that all parties in a contract can agree on, it is that contract issues are not fun nor easy to deal with, especially in a market such as we are seeing. While frustration is common when money is on the line, it is important to remember that both parties must eventually come to some sort of compromise. Amongst yield uncertainty and concerns for losses, it is easy for communication between parties to fall to the back burner.
The reality is that these issues do not get resolved any easier down the line, and the earlier you can raise concerns about a future contract, the more likely it is to go in your favour. If you come to the conclusion- or even have a hunch that you may not be able to fill or meet the requirements set out in a contract, it is imperative that these concerns are shared with all parties on the contract in order to reach fair and logical compromise.
If you have worked with Agfinity and are concerned about a contract, please don’t hesitate to reach out and let us in on your concerns. We are happy to discuss your options and help in the communication and negotiation process to ensure that both parties are able to come to a fair and logical solution.
Because Farming is Forever
Patrick Rees
Recent News
Here are some articles of interest that we are reading today.
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- Ottawa to trigger AgriRecovery to provide drought help
- Alberta crop insurance payout could exceed $1 billion
- This Sask. farmer is still looking for love after appearing on a Finnish dating show
- Canadian Grain Commission 2021-22 Crop Year Changes For Western Canada
- Klassen: Feed barley rally pressures feeder cattle market
Recent Trades on Agfinity.com
CW Feed Barley (ID: 20213)
44.00 MT
FOB Barrhead, AB
Jul 28 – Aug 14
$379.03/MT or $8.25/BU (Gross)
$375.53/MT or $8.18/BU (Net)
TRADED Jul 28, 2021
OS #2CW Oats (ID: 20205)
88.00 MT
FOB Entwistle, AB
Jul 29 – Aug 15
$291.79/MT or $4.50/BU (Gross)
$288.29/MT or $4.45/BU (Net)
TRADED Jul 28, 2021
CW Feed Barley (ID: 20208)
44.00 MT
FOB Sherwood Park, AB
Jul 29 – Aug 15
$374.44/MT or $8.15/BU (Gross)
$370.94/MT or $8.08/BU (Net)
TRADED Jul 28, 2021
#2CW Oats (ID: 20193)
352.00 MT
FOB Smoky Lake, AB
Jul 28 – Aug 15
$295.29/MT or $4.55/BU (Gross)
$291.79/MT or $4.50/BU (Net)
TRADED Jul 28, 2021
CW Feed Barley (ID: 20209)
44.00 MT
FOB Brownfield, AB
Jul 21 – Aug 13
$380.13/MT or $8.28/BU (Gross)
$376.63/MT or $8.20/BU (Net)
TRADED Jul 27, 2021
OS Heated Barley (ID: 20195)
44.00 MT
FOB Wanham, AB
Jul 26 – Aug 31
$334.20/MT or $7.28/BU (Gross)
$330.70/MT or $7.20/BU (Net)
TRADED Jul 27, 2021
CW Feed Barley (ID: 20207)
88.00 MT
FOB Paradise Valley, AB
Jul 27 – Aug 14
$377.83/MT or $8.23/BU (Gross)
$374.33/MT or $8.15/BU (Net)
TRADED Jul 27, 2021
CW Feed Barley (ID: 20201)
44.00 MT
FOB Wembley, AB
Jul 27 – Aug 31
$347.98/MT or $7.58/BU (Gross)
$344.48/MT or $7.50/BU (Net)
TRADED Jul 27, 2021
#2 Maple Peas (ID: 20117)
44.00 MT
FOB Conquest, SK
Jul 27 – Aug 15
$300.76/MT or $8.19/BU (Gross)
$297.26/MT or $8.09/BU (Net)
TRADED Jul 27, 2021
CW Feed Barley (ID: 20196)
17.00 MT
DLVD Edmonton, AB
Jul 26 – Aug 15
$375.63/MT or $8.18/BU (Gross)
$372.13/MT or $8.10/BU (Net)
TRADED Jul 26, 2021
#1CW Canola (ID: 20202)
39.00 MT
DLVD Camrose County, AB
Jul 26 – Aug 01
$966.90/MT or $21.93/BU (Gross)
$963.40/MT or $21.85/BU (Net)
TRADED Jul 26, 2021
CW Feed Barley (ID: 20203)
88.00 MT
FOB Stony Plain, AB
Jul 26 – Aug 31
$392.81/MT or $8.55/BU (Gross)
$389.31/MT or $8.48/BU (Net)
TRADED Jul 26, 2021
CW Feed Barley (ID: 20194)
44.00 MT
FOB Beaverlodge, AB
Jul 26 – Aug 03
$338.79/MT or $7.38/BU (Gross)
$335.29/MT or $7.30/BU (Net)
TRADED Jul 26, 2021
OS Heated Oats (ID: 20182)
44.00 MT
FOB Oxbow, SK
Jul 22 – Aug 13
$150.00/MT or $2.31/BU (Gross)
$146.50/MT or $2.26/BU (Net)
TRADED Jul 26, 2021
CW Feed Barley (ID: 20189)
176.00 MT
FOB Biggar, SK
Jul 23 – Aug 07
$374.44/MT or $8.15/BU (Gross)
$370.94/MT or $8.08/BU (Net)
TRADED Jul 23, 2021
CW Feed HRS Wheat (ID: 20181)
22.00 MT
FOB Bentley, AB
Jul 24 – Aug 15
$395.56/MT or $10.77/BU (Gross)
$392.06/MT or $10.67/BU (Net)
TRADED Jul 23, 2021
Feed Oats (ID: 20188)
154.00 MT
FOB Macklin, SK
Jul 23 – Aug 13
$278.00/MT or $4.29/BU (Gross)
$274.50/MT or $4.23/BU (Net)
TRADED Jul 23, 2021
OS CW Feed HRS Wheat (ID: 20179)
132.00 MT
FOB Carstairs, AB
Jul 22 – Aug 13
$365.43/MT or $9.95/BU (Gross)
$361.93/MT or $9.85/BU (Net)
TRADED Jul 22, 2021
CW Feed Barley (ID: 20180)
44.00 MT
FOB Carstairs, AB
Jul 22 – Aug 13
$384.72/MT or $8.38/BU (Gross)
$381.22/MT or $8.30/BU (Net)
TRADED Jul 22, 2021
OS CW Feed HRS Wheat (ID: 20178)
44.00 MT
FOB Camrose, AB
Jul 22 – Aug 15
$343.01/MT or $9.34/BU (Gross)
$339.51/MT or $9.24/BU (Net)
TRADED Jul 22, 2021
OS Heated Canola (ID: 20169)
30.00 MT
FOB Wetaskiwin, AB
Jul 21 – Jul 31
$341.72/MT or $7.75/BU (Gross)
$336.22/MT or $7.63/BU (Net)
TRADED Jul 22, 2021
CW Feed SWS Wheat (ID: 20176)
176.00 MT
FOB Vermilion, AB
Jul 27 – Aug 10
$383.63/MT or $10.44/BU (Gross)
$380.13/MT or $10.35/BU (Net)
TRADED Jul 22, 2021
CW Feed CPSR Wheat (ID: 20172)
27.00 MT
FOB Fort Assiniboine, AB
Jul 21 – Aug 07
$393.50/MT or $10.71/BU (Gross)
$390.00/MT or $10.61/BU (Net)
TRADED Jul 22, 2021
CW Feed Barley (ID: 20174)
44.00 MT
FOB Spruce View, AB
Jul 22 – Jul 31
$382.42/MT or $8.33/BU (Gross)
$378.92/MT or $8.25/BU (Net)
TRADED Jul 22, 2021
OS CW Feed CPSR Wheat (ID: 20173)
88.00 MT
FOB Hines Creek, AB
Aug 01 – Aug 15
$340.00/MT or $9.25/BU (Gross)
$336.50/MT or $9.16/BU (Net)
TRADED Jul 21, 2021
CW Feed Barley (ID: 20166)
65.00 MT
FOB Innisfail, AB
Jul 22 – Aug 15
$380.13/MT or $8.28/BU (Gross)
$376.63/MT or $8.20/BU (Net)
TRADED Jul 21, 2021
CW Feed Barley (ID: 20170)
88.00 MT
FOB Innisfree, AB
Jul 21 – Aug 13
$374.44/MT or $8.15/BU (Gross)
$370.94/MT or $8.08/BU (Net)
TRADED Jul 21, 2021
CW Feed Barley (ID: 20171)
44.00 MT
FOB Innisfree, AB
Jul 21 – Aug 13
$374.44/MT or $8.15/BU (Gross)
$370.94/MT or $8.08/BU (Net)
TRADED Jul 21, 2021
OS Feed Oats (ID: 20058)
44.00 MT
FOB Worsley, AB
Jul 20 – Aug 31
$240.00/MT or $3.70/BU (Gross)
$236.50/MT or $3.65/BU (Net)
TRADED Jul 20, 2021
Feed Oats (ID: 20168)
132.00 MT
FOB Hythe, AB
Jul 20 – Aug 31
$269.61/MT or $4.16/BU (Gross)
$266.11/MT or $4.10/BU (Net)
TRADED Jul 20, 2021
Feed Durum (ID: 20167)
220.00 MT
FOB Sibbald, AB
Jul 20 – Aug 31
$370.94/MT or $10.10/BU (Gross)
$367.44/MT or $10.00/BU (Net)
TRADED Jul 20, 2021
CW Feed Barley (ID: 20165)
44.00 MT
FOB Dogpound, AB
Aug 01 – Aug 31
$376.74/MT or $8.20/BU (Gross)
$373.24/MT or $8.13/BU (Net)
TRADED Jul 20, 2021
Feed Oats (ID: 20094)
35.00 MT
FOB Vegreville, AB
Jul 20 – Jul 30
$246.66/MT or $3.80/BU (Gross)
$243.16/MT or $3.75/BU (Net)
TRADED Jul 19, 2021
OS CW Feed Barley (ID: 20153)
44.00 MT
FOB Erskine, AB
Jul 19 – Aug 07
$384.95/MT or $8.38/BU (Gross)
$381.45/MT or $8.31/BU (Net)
TRADED Jul 19, 2021
#2CW Oats (ID: 20161)
88.00 MT
FOB Leduc County, AB
Jul 20 – Jul 31
$283.50/MT or $4.37/BU (Gross)
$280.00/MT or $4.32/BU (Net)
TRADED Jul 19, 2021
OS Feed Rye (ID: 20152)
44.00 MT
FOB Coronation, AB
Jul 19 – Aug 07
$286.95/MT or $7.29/BU (Gross)
$283.45/MT or $7.20/BU (Net)
TRADED Jul 19, 2021
#2CW Oats (ID: 19561)
46.00 MT
FOB Leduc, AB
Jul 17 – Aug 15
$279.08/MT or $4.30/BU (Gross)
$275.58/MT or $4.25/BU (Net)
TRADED Jul 16, 2021
#2 Durum (ID: 20156)
44.00 MT
FOB Maple Creek, SK
Jul 16 – Aug 16
$404.18/MT or $11.00/BU (Gross)
$400.68/MT or $10.90/BU (Net)
TRADED Jul 15, 2021
Feed Oats (ID: 20158)
88.00 MT
FOB High Level, AB
Jul 16 – Jul 31
$233.95/MT or $3.61/BU (Gross)
$230.45/MT or $3.55/BU (Net)
TRADED Jul 15, 2021
#2CW Oats (ID: 20050)
88.00 MT
FOB Waskatenau, AB
Jul 15 – Jul 31
$269.35/MT or $4.15/BU (Gross)
$265.85/MT or $4.10/BU (Net)
TRADED Jul 15, 2021
Feed Oats (ID: 20071)
132.00 MT
FOB Tofield, AB
Jul 15 – Jul 31
$266.37/MT or $4.11/BU (Gross)
$262.87/MT or $4.05/BU (Net)
TRADED Jul 15, 2021
CW Feed Barley (ID: 20149)
44.00 MT
FOB Leslieville, AB
Jul 15 – Jul 31
$347.98/MT or $7.58/BU (Gross)
$344.48/MT or $7.50/BU (Net)
TRADED Jul 15, 2021
Feed Green Peas (ID: 20089)
264.00 MT
FOB Linaria, AB
Jul 16 – Jul 31
$356.07/MT or $9.69/BU (Gross)
$352.57/MT or $9.60/BU (Net)
TRADED Jul 15, 2021
CW Feed SWS Wheat (ID: 20157)
132.00 MT
FOB Picture Butte, AB
Jul 14 – Jul 31
$367.27/MT or $10.00/BU (Gross)
$363.77/MT or $9.90/BU (Net)
TRADED Jul 15, 2021
Feed Oats (ID: 20070)
132.00 MT
FOB Galahad, AB
Jul 15 – Jul 31
$259.63/MT or $4.00/BU (Gross)
$256.13/MT or $3.95/BU (Net)
TRADED Jul 15, 2021
CW Feed Barley (ID: 20154)
44.00 MT
FOB Brosseau, AB
Jul 14 – Aug 31
$346.88/MT or $7.55/BU (Gross)
$343.38/MT or $7.48/BU (Net)
TRADED Jul 14, 2021
OS ST CW Feed Barley (ID: 20120)
11.00 MT
FOB Calmar, AB
Jul 15 – Jul 31
$267.87/MT or $5.83/BU (Gross)
$264.37/MT or $5.76/BU (Net)
TRADED Jul 14, 2021
Feed Durum (ID: 20131)
440.00 MT
FOB Taber, AB
Jul 13 – Aug 07
$352.57/MT or $9.60/BU (Gross)
$349.07/MT or $9.50/BU (Net)
TRADED Jul 14, 2021