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Go explore.
(Bids and fields.)
As I get older, my appreciation and fascination for our food continues to grow, as does how it’s grown and where it comes from. I am currently in the Palm Springs area for the first time and stopped to see some fields by the Salton Sea. It amazes me how different and how much manual labour is involved out here to grow certain foods. I’m talking the actual back-breaking type of labour. We are so fortunate to have large equipment to do most of the work for us. Watching these guys out here, makes me think, ‘Maybe that celery price we pay at the grocery store isn’t so bad after all.’
I spoke with the farmer briefly about this celery field (shown above) for five minutes and learned that he also has his struggles. His crop was good but they aren't making much money as freight costs have more than doubled. A load used to cost $7,000 and now it's around $15,000, and that's only if you can actually find truckers to haul it. Let it be known, we aren't the only ones with problems!
Also worth noting on the flight down here, how much land is not arable and not does produce any food. Mother Earth is truly a wonder in herself.
If you know any farmers farming down in this area, please let me know as I would love to meet them!
And, whether you’re in Palm Springs kicking back on last time in the sun like me or hauling back in the frosty Prairies, remember there are still major bids to be found on all commodities no matter where you are! Spend your coffee break this afternoon scrolling through some bids, set a few triggers, and enjoy the weekend. There’s still rea$on to check out Farmbucks these days. Check out our market report to find out just how juicy this past week has been for action!
Weekly Market Recap:
Markets are all over the place. Watch for Feb. 8 - StatCan's latest report comes out!
Deal of the week: $19.00/bu new-crop canola
Canola: Canola futures gained a little bit of strength this week and are bouncing around the top range of the charts. They just don't know where to go right now and aren’t making much for gains, which is very disappointing considering what soybeans have done. We are seeing some basis levels widening out as futures are still up there and buyers (crushers) fill requirements. Many $19/bu new crop specials were offered earlier this week – did you catch one?
Soybeans have made some strong gains in the past couple of weeks as the market factor lowered estimates to South American production. Too dry in the South and too wet in the North. Also, China came in the market and bought some soybeans which is odd as they are off for the Chinese New Year.
Wheat: Wheat futures are weak and struggling. Volatility is high as all eyes are on Russia and Ukraine. Wheat futures climb today as Vladimir Putin met with Chinese President Xi Jinping. They released a joint statement in which China backs Russia's opposition to any NATO expansion.
Barley: Barley bids continue to hold the line. Corn futures lost some steam and came down from the highs. News that China had canceled a few old-crop U.S. purchases and rain in the forecast over certain dry areas of Argentina also contributed to its losses.
Peas: Pea bids have been working their way lower the past few weeks.
Oats: Certain bids pick up a bit of strength for April delivery onward.
Around the farm: MIA. Gone to Palm Springs. When I’m not doing Farmbucks by the pool or at cafes, I am out exploring fields and mountains and who knows what else!
Cheers y'all!
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