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Full Access Pass
(Everything you want, and then some.)
Bids coming in hot. Like, oven mitts on, lasagna coming out of the oven hot! If you've ever gone to Big Valley Jamboree with a full-access pass, you get to see every amazing band plus lots more stuff the average Joe doesn't. Well, Farmbucks is like that, too, except instead of killer bands, it's killer pricing data! We give you all the goods, and for way less than the cost of a BVJ pass.
Combines are on the move across the Prairies. You may be driving alone in the cab, but you are never truly alone. Farmbucks is beside you all the way! We support you. We have your back. We are looking out for your best interests. And even though the combines have been rolling for a considerable amount of time (it's only Aug. 13!), we still take care of you once it's in the bin. It's not going to be an easy year for many, myself included, but there are silver linings. Or, gold, if you read all the way to the bottom.
Market Recap:
Wheat bids standing out from the crowd! Corn and wheat rally after Thursday's USDA numbers come in below expectations. Soybeans numbers came in as expected by the trade.
Canola: Nov. canola futures struggle to get above the $900/MT mark. It’s trading sideways on a narrow range. With no major surprises released in this week’s USDA report and continued rains supporting the U.S. soybean crop, canola just can't find many reasons to make any big moves up or down. Although our yields are not fully known, canola harvest will start soon across the Prairies and canola will start to flow to users. Canola bids end this week just slightly higher than last Friday.
Wheat: Entering unchartered waters! Prices for all three wheat markets are on the move higher and are making new highs! Thursday's USDA report caught the trade by surprise as it cut both the U.S. and global wheat ending stocks to levels below expectations.
Cash and deferred bids are looking good but it's worth noting that many grain buyers have adjusted their protein premiums to be at or near $0.00 as they are seeing mostly high-protein wheat samples coming in.
Durum prices are on the rise too. The notes from last week stand: North American production has been cut almost in half versus 2020. The EU's production is estimated to be similar to last year. However, France has major quality issues. Buyers, in general, have been caught off guard by the shortfall and have very little of their future needs covered off, so prices should remain supported. I've heard that even $20 could possibly be attainable.
Barley: Coming in HOT. Bids just keep getting stronger. Quite the turn of events for this one. This spring, with a ton of acres being planted, it was expected that we would have a flood of barley available. Little did anyone know just how hard the drought would hit this market. Also supporting barley is, of course, corn. The USDA released lower yield numbers and ending stock numbers that are tighter than originally thought. Although the crops aren’t dire in the U.S., it is not large enough to bump up stocks to levels that will turn this market downward, at least yet. Caution: The crop still has time to get bigger before it is harvested but as we all know, that lies in the hands of Mother Nature. Barley remains well supported right now, but keep an eye on corn and wheat markets to see where barley goes next.
Peas: Movin' on UP. Yellow pea bids move higher reaching that $13.25/bu level and greens top $15+/bu. Be sure to check bids out and call your buyers if interested, as demand is fairly strong and peas are starting to move to China right now.
Oats: Oat bids keep creeping higher, too! Futures are climbing to new highs! Some oat test weights are a concern as crops and yields are disappointing, but as mentioned last week, it is in very short supply (both in the US and Canada) and rationing is certainly required.
Around the farm: Made it back home and it's now all hands on deck! I had a new-to-me header delivered which needs a little TLC and I made calls to find out where my new combines are. I've heard dealerships are struggling to get their new orders on time. Luckily, I confirmed that mine are sitting at the dealership just waiting to be PDId then shipped. In the meantime, we installed a Husqvarna automower to help mow the small and intricate areas in our yard which I highly recommend! This thing makes me look bad as it’s out working day and night! It's fun to watch it bounce in and around all my trees. Anyhow, we have a ton of other tasks to take care of as we pull out the machinery and get ready for harvest. This weekend, although will be plus 30-plus degrees, it will be a work weekend as harvest is not far away.
Cheers y'all!
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