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Hot Damn.
(A goooood week in markets.)
This has been one of the best weeks for canola in quite a while. If you have the Farmbucks app you already know this. If not, you're missing out. Tell your friends and spread the word: Farmbucks finds the best prices for you 24/7!
Canola: Wow! A steep upswing in markets this week. They are now meeting a key area of resistance. Pay attention, they can also turn down in a hurry. Over the week, I found many canola specials at $12.00/bu for delivery Jan. 2021 onward. Later month bids reaching even higher! When is the last time you sold $12+/bu canola? CHECK THEM OUT!
Wheat: Although there's plenty of wheat in the world, wheat climbed higher the past couple of days which was a pleasant surprise. We are seeing decent prices starting to pop up in select spots. Definitely shop around if you have high protein wheat as there are some big differences in premiums being offered by prospective buyers.
Barley: Some stronger malt barley and feed barley bids this week. Contributing factors are Chinese demand, increased cattle on feed and a smaller than expected US corn crop.
Peas: Same as before: Green peas more likely to lose strength while yellow peas have a chance at more upside as Statistics Canada lowered its pea production estimate.
Oats: Nothing exciting expected in this market. StatCan slightly increased its production forecast on Monday and Australia is set to produce more this year.
Around the farm: I got 160 acres of wheat off! All at about 20% moisture. Yuck. You know it’s bad when you have to shovel the last foot off the slopes of your Tridems! Anyhow, so far this stuff is looking to grade a 2 CWRS 12.5. I'm heading back out to the fields today to make more progress!
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