End of commodity boom real reason for national anger

[blackpowder]

https://youtu.be/5vAlz1at_OU

This is one of the foundations of why we will always be pissed.
Laws become meaningless when no one follows them. We need to start saying No, and ignoring everything coming from Ottawa until big changes happen in our federal structure.
They've been jerking our leash for too long.
Amend the Constitution, change the Senate, elect a regional only party, do whatever it takes peacefully.
Unless you like being kept where you belong.

[Hamloc]

Drove 6 hours yesterday! huge piles of wet wheat on ground everywhere!!! No wonder prices have dropped!!! Twice as much wheat yield [[in many areas] as last year!!! Should no surprise!!! Blame elevator companies??? You guys... WAKE UP!!!

Tom a few thoughts. Last year my CPS wheat averaged 75 bpa, this year 78. This is Penhold which yields far less than the Foremost I used to grow and was moved out of the CPS classification. Last year my CPS sold for $6.60 a bushel, this year it is roughly $5.80 plus there will be drying charges taken off that. My hard red averaged 60 bpa last year and just over 70 bpa this year. Last year I got $7.60 a bushel, this year with low protein deductions and drying costs it will be more like $5.40. So yes yields were a little higher this year in my area but returns will certainly be lower and Penhold is a perfect example of a new wheat not out performing the one it replaced.

[bucket]

Tom a few thoughts. Last year my CPS wheat averaged 75 bpa, this year 78. This is Penhold which yields far less than the Foremost I used to grow and was moved out of the CPS classification. Last year my CPS sold for $6.60 a bushel, this year it is roughly $5.80 plus there will be drying charges taken off that. My hard red averaged 60 bpa last year and just over 70 bpa this year. Last year I got $7.60 a bushel, this year with low protein deductions and drying costs it will be more like $5.40. So yes yields were a little higher this year in my area but returns will certainly be lower and Penhold is a perfect example of a new wheat not out performing the one it replaced.

Sounds like grow more ,,,,,make less to me.....good for graincos truckers and railway volumes though...all good....and all their rates have went up...

[sumdumguy]

I heard a story of a farmer near us who left wet wheat on truck for it to dry. Yep, the truck burnt. Think insurance covers it?

[blackpowder]

https://business.financialpost.com/opinion/gwyn-morgan-trudeau-has-turned-our-most-economically-important-industry-into-a-pariah-a-tragedy-every-canadian-should-be-concerned-about

Didn't want to cut and paste.
Link to an article that explains it as well.

[Guest]

Hmmm , 70% of western Canada not in that position. I would bet $100 you never seen one bushel that was a #1 or 2 .
Lots of down graded wheat .... that don’t pay bills.
They market still refuses to pay for good quality, that’s the problem.

even our #1 wheat we carried over isn't a #1 or #2 now

[grassfarmer]

Drove 6 hours yesterday! huge piles of wet wheat on ground everywhere!!!...

Piles of wheat in the fields around here too, unfortunately most is plastered to the ground, unharvested. Will you still be wanting your end point royalty on that stuff TOM even if it gets burnt in the spring?

[blackpowder]

Unfortunately, I can't afford to carry over grain.

[furrowtickler]

Unfortunately, I can't afford to carry over grain.

I know very very few that can , this year or any year . And I know a whole lot of farms in this 60 mile radius...
in fact maybe less than 5 % if the farms can remotely afford to “carry over” any grain / oilseeds from year to year . The very few are close to retirement at best . But maybe that’s just this area .... no extra oil revenues or super duper yields . Maybe this area is an oddity

[Oliver88]

I heard a story of a farmer near us who left wet wheat on truck for it to dry. Yep, the truck burnt. Think insurance covers it?

I would assume so.

I wonder how tough the wheat was?

[sumdumguy]

Story is 19-20%. Probably greenish. 🤢

[chuckChuck]

chuckChuck . . . China's commodity boom lasted between 2008 to 2012 . . . it's been all downhill since then.

China's growth was skyrocketing around 14% annually in their heyday. Now China's growth is likely around 5%. China basically consumes 50% or more of global commodities. China's 2008 Olympics were their 'coming out party'. Inflation in commodities was brisk, times were good. That has now all changed . . . .

Thanks Errol. I appreciate your perspective.