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My wheat looks great.
(Wheat markets on the other hand ... not so much)
Both wheat futures and basis levels have been working against us and this week prices have hit lows we haven't seen in some time. While the wheat markets figure their sh*t out, I'll sit back, avoid the dip, have a beer and just watch. Even then Farmbucks still finds me the best prices currently offered.
On the Farm: It was a HOT one! My crops really needed this sun to move maturity further along. But, of course, hot weather means MORE rain and thunderstorms. I have such field variance in precipitation right now. It's crazy. My northern fields, which are only about 20 miles away, have received a few inches more rain this past week than here at my home base.
We shall see how my crops handle it all.
Market Watch:
Canola down slightly, Wheat down, and Pea and Oat bids have softened.
This week went by fast. There were still good canola premiums to be had earlier in the week as buyers were looking to lock down their August demand. $11.50/bu old crop canola was still available! Wheat markets on the other hand continue to drop. I also noticed some oat and pea prices soften this week as we near harvest.
- Canola bids are down $0.04/bu vs. last Friday.
- CPSR bids ended down $0.20/bu this week.
- New crop CWRS bids are down about $0.22/bu.
- Feed and Malt Barley bids are unchanged/softer.
- Oats bids are relatively unchanged/softer.
- Certain Yellow pea bids are down slightly.
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