What happened today on the grain markets?

[SASKFARMER3]

Looks like their all in the tank except rice. Ha
maybe they finally realize that's all some will
grow.

[furrowtickler]

You got done seeding and we got done reseeding ... time for a correction lol

[boarderbloke]

big reversal in MGE JULY WHT, 88 cent swing, closing down 78 cents from inter day high.

[wd9]

and yet a big chunk of alberta waits for rain. As in the first rain of the year. Still nothing.

[furrowtickler]

like I said before, if you look at the 60 day precip and accumulated precip maps, the drought area is larger than the excess moisture area. The area defficient of rainfall is getting quite large. Winter wheat crops are toast here and some spring seeded crops are either suffering from frost damage or in dry dirt.
Sad thing is western Canada means almost zero in the markets.

[boarderbloke]

we're forecast to get 40-50mm starting tonight and going through tomorrow and another 15-25 over the weekend. I'm less than 10% planted.

[ajl]

Do remember that ag commodity markets are not a fundamentals play. When helicoptor Ben announces quantitive easing 3 then canola and wheat will go higher. Until then the markets will likely drift lower.

[charliep]

An interesting map. Play around with the number of days and regions.

[URL="http://www4.agr.gc.ca/DW-GS/current-actuelles.jspx?lang=eng"]precipitation maps[/URL]

[charliep]

Perhaps a couple of questions that will not make me popular.

Are prices high or low today?

How much weather uncertainty is built into current markets?

Talked about China and other factors that may influence the market in other threads. How much chance for a black swan event that will have nothing to do with agriculture?

[TOM4CWB]

Charlie,

We are just like Texas... only not as hot.

30, 60, 90 day maps... less than an inch of moisture in the past 90 days.

2 tenths in one shower on the week end.

If it rains an inch... then we have good prices... if not... in the next week... especially if it warms up to normal temps... this crop will go backwards in a big hurry. Prices are secondary... when no crop.

It is a miracle crops look as good as they are.

Time to spent praying... best investment I can hope for... this jet stream is messed up big time!