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$13+ canola.
(boom.)
Move out of the way! Canola is coming through! I had a grain buyer laugh at me a month ago when they tried to get me to sell more canola and I replied with, “when it reaches $13/bu, let’s talk.” Well, who's laughing now, sweetheart? OK, I really don't remember when I last sold $13+/bu canola, so I don't want to get too comfortable, but seriously, how high can it go? Beats me! Prices will likely depend on South American weather (in late Dec and Jan) and our own supply/demand. If you want to read a little more about the soybean-canola situation, check out this market commentary put out by Sask Canola.
It’s a mild start to winter, so why not fire up the Farmbucks app, and find killer canola deals.
Market Recap:
Canola: Canola and soybeans are flying high. Brazil keeps getting mixed forecasts and China bought up more U.S. soybeans which has supported the oilseed complex. This week there was a ton of $13/bu bids available and even heard of $13.25/bu targets hitting.
Wheat: Do you like dogs? Wheat is a dog market right now and this should not be a surprise to anyone reading this. There’s no new news to light a fire under this market. COVID, depending on how it plays out, could have millers scrambling to secure more inventory. We'll have to wait and see as time will tell. Mind you, with all that being said, I still am finding decent wheat bids pop up here-and-there as elevators get caught-up on drying current inventory and want more to work with.
Barley: Barley is interesting and strong due to export demand from China. Strong corn and our tight supply and demand for barley will help support this market. I have noticed more demand this week for feed barley. Prices still strong or even a bit stronger in some cases.
Peas: Haven’t seen much action for peas. Same. Same. China's strong demand has been the lead support for pea prices, just be cautious, we all know China can stop buying at any time they 'feel' like it.
Around the farm: It’s quiet here, so what else is there to do but home renos?! Haha! While I stay in the office all day working on all things Farmbucks and bringing you some cool new features, my husband is working on knocking off a few honey-do lists that I keep adding onto. They have been on the backburner, but now are front and centre again. Oh, the joys of living in the original farmhouse.
By the way, if you have any Farmbucks suggestions or comments, I'd love to hear from you. Just reply to this email and I will receive it! Stay warm, friends!
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