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Makin' farm 'bucks'.
(Cheesy joke, delicious deals.)
Boy, it feels like this week flew by quietly and swiftly. There was not really any breaking news for markets and yet they continue to impress. And we like to impress you, too! Keep reading to see what we are talking about. It might just make you some serious ‘farm bucks.’
We know at this time of year you have seeding on the brain! That's why we are here to help you. After all, I'm sure you know that some of our best pricing opportunities show up when we are just too darn busy to catch it. Focus on putting in a good crop and we will focus on finding you the best prices. Deal? Deal.
Market Recap:
Canola: Clawing its way higher yet this week. Tight supplies and weather concerns remain at the forefront. June and July canola bids are up over that $19/bu mark again but what is really catching my eye are all the $15/bu new crop bids that were available today! It may not seem like much when you compare it next to $19/bu, but the fact is that it is probably higher than what most of us averaged on our 2020 canola crop, so it's definitely worth noting.
Wheat: Still in rally mode. Nice to see more gains made in wheat markets this week. Pay special attention to the gains made in new crop bids. There was good strength found mid-week from weakness in the U.S. dollar, strength in corn futures, and cooler weather with potential frost risk/freeze damage on the U.S. winter wheat crops and also in the EU.
CWRS is bringing over $8.50/bu old and new crop.
CPSR is over $8.00/bu for old crop and reaching for $7.70/bu new crop.
Barley: Finding some old crop bid strength and steady to slightly lower on certain new crop bids. The new crop market seems to be just waiting to see what happens for acres being planted and weather.
Peas: Steady prices. I see greens and yellow bids jump up and down $0.25/bu here and there. Standby and keep watch.
Around the farm: Is it spring, summer, fall or winter? We seem to get all of them this time of year! Today just happens to be a great summer day over here on our farm and so we kind-of - unintentionally opened a can of worms. Our garden hydrant has not worked properly for a few years; it would continuously drip water because the plunger just couldn't quite close. Well, this winter, the pipe cracked wide open. So, we borrowed a friend's mini-hoe and started digging this morning. We dug and dug and dug some more. Now, the hoe is maxed out and the water is rushing in and we still haven’t found the joint! Not many options left now but to call in for a bigger hoe! Wish me luck! Anyhow, besides our make-work projects, we plan to pull out our seed drill next week and prep for seeding!
By the way, I checked in to see what dyed diesel prices are at and I was informed that diesel is moving slightly higher for next week - bids hovering around that $0.835/L level (taxes included).
Wherever you are at with seeding, I wish you precise knives and consistent seed depth!
Cheers!
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