Planning Ahead for Your Crops

I am sure most producers have already started looking ahead to 2021 and for the majority cannot wait to put 2020 in the rear view. It has been a challenging year for many, not only due to the COVID 19 pandemic but also due to production challenges. From too wet in many areas, to a lack of in season moisture and high temperatures in others, mother nature did not play nice for many western Canadian farmers during the 2020 growing season. Many in agriculture say it is a “next Year” industry and in a lot of ways there’s truth to that. As we look ahead to 2021 crop year it is only natural to be optimistic about what lays ahead. Running different crop scenarios. Building fertility and crop protection plans. Everyone gets to start at square 1 again. Just like when your favorite sports team prepares to begin another season there is always hope. Hope that if everything goes right, you execute your prepared game plan and maybe get a bounce or two, at the end of the season you will be successful.

To look ahead one must also look back. Now is time to review the previous year and determine what was successful and what could be differently on your farm. This could be a management decision that may impact production, profitability, efficiency, safety, or all the above. Obviously the one variable we cannot control is weather. Next year will bring new weather and environmental challenges that can be completely different than experienced in previous years. Remember not to overreact or make decisions based solely on one growing season.

Another thing to keep in mind is use as accurate commodity pricing as possible when planning. Producers may add or increase acres of a certain crop because current pricing is strong. An example of that is current new crop barley pricing. I am sure many growers have been thinking about adding or increasing barley acres in there 2021 plans and at current pricing I can see why. One must remember however that just because that price is there now does not mean it will be there when you market your crop.  Using $5/bu barley when crunching numbers (break evens, projections, etc.) may not be the best method. Look at using an average price from multiple years. Pricing new crop is an option to capture current new crop pricing, however this carries some level of risk. Its recommended to only look at doing this on a portion of expected production, a level that you feel comfortable forward contracting. This will vary from one farm to another due to several factors.

To discuss new crop planning, pricing and marketing strategies, feel free to give us a call anytime.

Because Farming is Forever
Ken Morey

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Recent News

Here are some articles of interest that we are reading today.

• Alberta offers equivalency plan, grants for aspiring truckers
• North American farmers warned to prepare for long dry spell
• North American Grain/Oilseed Review: Canola falls with fund selling
• Klassen: Feeder market takes direction from live cattle futures
• Smallest canola crop since 2015, says StatsCan

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Recent Trades on Agfinity.com

OS #2CW Milling Rye (ID: 18465)
2288.00 MT
DLVD Coronation, AB
Jan 01 – Mar 31
$221.99/MT or $5.64/BU (Gross)
$218.49/MT or $5.55/BU (Net)
TRADED Dec 09, 2020

OS CW Feed Barley (ID: 18489)
484.00 MT
FOB Glendon, AB
Dec 09 – Jan 31
$242.34/MT or $5.28/BU (Gross)
$238.84/MT or $5.20/BU (Net)
TRADED Dec 09, 2020

CW Feed HRS Wheat (ID: 18473)
616.00 MT
FOB Coutts, AB
Feb 01 – Mar 31
$253.36/MT or $6.90/BU (Gross)
$249.86/MT or $6.80/BU (Net)
TRADED Dec 09, 2020

OS CW Feed Barley (ID: 18380)
44.00 MT
FOB Debolt, AB
Dec 10 – Jan 15
$111.44/MT or $2.43/BU (Gross)
$107.94/MT or $2.35/BU (Net)
TRADED Dec 09, 2020

CW Feed HRS Wheat (ID: 18467)
88.00 MT
FOB Stettler, AB
Dec 08 – Jan 31
$246.01/MT or $6.70/BU (Gross)
$242.51/MT or $6.60/BU (Net)
TRADED Dec 08, 2020

CW Feed Barley (ID: 18458)
132.00 MT
FOB St. Paul, AB
Dec 28 – Dec 31
$251.10/MT or $5.47/BU (Gross)
$247.60/MT or $5.39/BU (Net)
TRADED Dec 08, 2020

OS Heated Canola (ID: 18430)
42.00 MT
DLVD Cardston, AB
Dec 08 – Dec 11
$402.14/MT or $9.12/BU (Gross)
$396.64/MT or $9.00/BU (Net)
TRADED Dec 08, 2020

OS CW Feed Barley (ID: 18451)
132.00 MT
FOB Frenchman Butte, SK
Dec 28 – Dec 31
$246.39/MT or $5.36/BU (Gross)
$242.89/MT or $5.29/BU (Net)
TRADED Dec 07, 2020

OS CW Feed HRS Wheat (ID: 18444)
220.00 MT
FOB Rimbey, AB
Dec 07 – Dec 31
$244.00/MT or $6.64/BU (Gross)
$240.50/MT or $6.55/BU (Net)
TRADED Dec 07, 2020

CW Feed Barley (ID: 18454)
44.00 MT
FOB Lloydminster, SK
Dec 04 – Dec 31
$251.50/MT or $5.48/BU (Gross)
$248.00/MT or $5.40/BU (Net)
TRADED Dec 07, 2020

CW Feed Barley (ID: 18446)
660.00 MT
FOB Killam, AB
Dec 07 – Jan 31
$254.00/MT or $5.53/BU (Gross)
$250.50/MT or $5.45/BU (Net)
TRADED Dec 07, 2020

#2CW HRS Wheat (ID: 18399)
88.00 MT
FOB Mannville, AB
Feb 01 – Feb 28
$249.68/MT or $6.80/BU (Gross)
$246.18/MT or $6.70/BU (Net)
TRADED Dec 07, 2020

CW Feed Barley (ID: 18438)
132.00 MT
FOB Bashaw, AB
Dec 08 – Jan 31
$259.00/MT or $5.64/BU (Gross)
$255.50/MT or $5.56/BU (Net)
TRADED Dec 07, 2020

CW Feed Barley (ID: 18361)
88.00 MT
FOB Two Hills, AB
Dec 01 – Jan 31
$256.12/MT or $5.58/BU (Gross)
$252.62/MT or $5.50/BU (Net)
TRADED Dec 07, 2020

CW Feed HRS Wheat (ID: 18447)
308.00 MT
FOB Standard, AB
Jan 01 – Feb 28
$249.68/MT or $6.80/BU (Gross)
$246.18/MT or $6.70/BU (Net)
TRADED Dec 07, 2020

OS CW Feed Barley (ID: 18427)
44.00 MT
FOB Castor, AB
Jan 01 – Jan 31
$251.52/MT or $5.48/BU (Gross)
$248.02/MT or $5.40/BU (Net)
TRADED Dec 07, 2020

OS CW Feed Barley (ID: 18428)
88.00 MT
FOB Ohaton, AB
Dec 15 – Jan 15
$256.00/MT or $5.57/BU (Gross)
$252.50/MT or $5.50/BU (Net)
TRADED Dec 04, 2020

Wheat Screenings (ID: 18441)
44.00 MT
FOB Kitscoty, AB
Dec 08 – Dec 08
$223.96/MT or $6.10/BU (Gross)
$220.46/MT or $6.00/BU (Net)
TRADED Dec 04, 2020

#1CW Canola (ID: 18435)
88.00 MT
FOB Carstairs, AB
Dec 04 – Jan 31
$570.08/MT or $12.93/BU (Gross)
$566.58/MT or $12.85/BU (Net)
TRADED Dec 04, 2020

CW Feed Barley (ID: 18440)
220.00 MT
FOB Clandonald, AB
Dec 04 – Dec 31
$255.98/MT or $5.57/BU (Gross)
$252.48/MT or $5.50/BU (Net)
TRADED Dec 04, 2020

OS CW Feed Barley (ID: 18389)
44.00 MT
FOB Bruno, SK
Dec 05 – Dec 18
$233.15/MT or $5.08/BU (Gross)
$229.65/MT or $5.00/BU (Net)
TRADED Dec 04, 2020

#1CW Canola (ID: 18419)
132.00 MT
FOB Carstairs, AB
Feb 01 – Feb 28
$572.29/MT or $12.98/BU (Gross)
$568.79/MT or $12.90/BU (Net)
TRADED Dec 04, 2020

Feed Yellow Peas (ID: 18431)
88.00 MT
FOB La Crete, AB
Dec 04 – Jan 10
$251.52/MT or $6.85/BU (Gross)
$248.02/MT or $6.75/BU (Net)
TRADED Dec 04, 2020

CW Feed Barley (ID: 18414)
220.00 MT
FOB Foremost, AB
Dec 14 – Dec 18
$265.30/MT or $5.78/BU (Gross)
$261.80/MT or $5.70/BU (Net)
TRADED Dec 04, 2020

NC CW Feed Barley (ID: 18396)
220.00 MT
FOB Huxley, AB
Sep 01 – Oct 31
$232.00/MT or $5.05/BU (Gross)
$228.50/MT or $4.97/BU (Net)
TRADED Dec 03, 2020

#1CW Canola (ID: 18425)
88.00 MT
FOB Standard, AB
Feb 01 – Mar 31
$570.96/MT or $12.95/BU (Gross)
$567.46/MT or $12.87/BU (Net)

TRADED Dec 03, 2020

NC CW Feed Barley (ID: 18422)
1320.00 MT
FOB Beiseker, AB
Aug 20 – Sep 30
$233.15/MT or $5.08/BU (Gross)
$229.65/MT or $5.00/BU (Net)
TRADED Dec 03, 2020

OS #1CW CPSR Wheat (ID: 18382)
660.00 MT
FOB Lloydminster, SK
Dec 03 – Mar 31
$242.33/MT or $6.60/BU (Gross)
$238.83/MT or $6.50/BU (Net)
TRADED Dec 03, 2020

OS CW Feed Barley (ID: 18413)
440.00 MT
FOB Tofield, AB
Dec 14 – Dec 18
$256.12/MT or $5.58/BU (Gross)
$252.62/MT or $5.50/BU (Net)
TRADED Dec 03, 2020

CW Feed Barley (ID: 18357)
44.00 MT
FOB Gadsby, AB
Dec 03 – Dec 31
$260.71/MT or $5.68/BU (Gross)
$257.21/MT or $5.60/BU (Net)
TRADED Dec 03, 2020

OS CW Feed Barley (ID: 18393)
220.00 MT
FOB Eckville, AB
Jan 01 – Jan 31
$260.00/MT or $5.66/BU (Gross)
$256.50/MT or $5.58/BU (Net)
TRADED Dec 03, 2020

CW Feed Barley (ID: 18411)
88.00 MT
FOB Enilda, AB
Dec 03 – Dec 31
$250.58/MT or $5.46/BU (Gross)
$247.08/MT or $5.38/BU (Net)
TRADED Dec 03, 2020

#1CW Canola (ID: 18398)
88.00 MT
FOB Mannville, AB
Feb 01 – Mar 31
$570.99/MT or $12.95/BU (Gross)
$567.49/MT or $12.87/BU (Net)
TRADED Dec 03, 2020

CW Feed HRS Wheat (ID: 18405)
176.00 MT
FOB Loverna, SK
Dec 04 – Feb 28
$246.01/MT or $6.70/BU (Gross)
$242.51/MT or $6.60/BU (Net)
TRADED Dec 03, 2020

CW Feed Barley (ID: 18410)
44.00 MT
FOB Lacombe, AB
Dec 03 – Jan 31
$263.00/MT or $5.73/BU (Gross)
$259.50/MT or $5.65/BU (Net)
TRADED Dec 03, 2020

#2CW Oats (ID: 18392)
44.00 MT
FOB Dapp, AB
Jan 01 – Feb 28
$253.64/MT or $3.91/BU (Gross)
$250.14/MT or $3.86/BU (Net)
TRADED Dec 03, 2020

CW Feed HRS Wheat (ID: 18369)
44.00 MT
FOB Hayter, AB
Jan 01 – Jan 31
$241.00/MT or $6.56/BU (Gross)
$237.50/MT or $6.46/BU (Net)
TRADED Dec 02, 2020

OS CW Feed HRS Wheat (ID: 18401)
836.00 MT
FOB Duffield, AB
Dec 05 – Feb 28
$253.36/MT or $6.90/BU (Gross)
$249.86/MT or $6.80/BU (Net)
TRADED Dec 02, 2020

OS CW Feed HRS Wheat (ID: 18372)
484.00 MT
FOB Kitscoty, AB
Dec 10 – Jan 01
$249.68/MT or $6.80/BU (Gross)
$246.18/MT or $6.70/BU (Net)
TRADED Dec 02, 2020

CW Feed Barley (ID: 18397)
44.00 MT
FOB Crestomere, AB
Mar 01 – Apr 30
$260.00/MT or $5.66/BU (Gross)
$256.50/MT or $5.58/BU (Net)
TRADED Dec 02, 2020

CW Feed HRS Wheat (ID: 18254)
264.00 MT
FOB La Crete, AB
Jan 01 – Feb 28
$227.64/MT or $6.20/BU (Gross)
$224.14/MT or $6.10/BU (Net)
TRADED Dec 02, 2020

OS Heated Durum (ID: 18394)
44.00 MT
FOB Sibbald, AB
Feb 01 – Feb 28
$76.99/MT or $2.10/BU (Gross)
$73.49/MT or $2.00/BU (Net)
TRADED Dec 02, 2020

OS CW Feed Barley (ID: 18359)
132.00 MT
FOB Hairy Hill, AB
Dec 07 – Dec 11
$254.10/MT or $5.53/BU (Gross)
$250.60/MT or $5.46/BU (Net)
TRADED Dec 02, 2020

CW Feed CPSR Wheat (ID: 18366)
44.00 MT
FOB Spruce Grove, AB
Dec 03 – Feb 28
$251.52/MT or $6.85/BU (Gross)
$248.02/MT or $6.75/BU (Net)
TRADED Dec 02, 2020

CW Feed Barley (ID: 18390)
88.00 MT
FOB Provost, AB
Oct 01 – Oct 31
$203.75/MT or $4.44/BU (Gross)
$200.25/MT or $4.36/BU (Net)
TRADED Dec 02, 2020