Markets up ..

[burnt]

The weather and temps here have been a yoyo like the markets. Two weeks ago, frost every night. Then turned hot, 25- 32C for a few days.

Corn came up in 6 days. Soys the same.

Then a very welcome 6/10" shower yesterday but turned very cool again. 4C last night and forecast is for ~the same rest of the week. Oh well, cool lets the moisture go down instead of a hot wind sucking it out of the ground.

[AlbertaFarmer5]

Have to say I saw this lift in prices coming. Two days ago, got a couple calls from elevators wanting to drum up sales.

Like clockwork.

[Marusko]

Still have all my wheat and lentils to go yet.

The fundamentals in this market are somewhat broken. Lots of speculators are hiding out in commodities to counter inflation. I suspect a violent reversal could come one day but that could be months away.

still holding all your wheat? I sold most of my hard red between 7-8 bucks, got some at 8.60, what are you waiting for?! current spot 8.30, that's 2 red 13.0

[redleaf]

Have contracted canola to haul and maybe a few hundred bushel unpriced after that.

[jazz]

still holding all your wheat? I sold most of my hard red between 7-8 bucks, got some at 8.60, what are you waiting for?! current spot 8.30, that's 2 red 13.0

#2 Durum; $8.90 today. Flat for the past month. Was hoping for a kick over $9. Doesnt look likely.

[jdg364]

Old crop all sold, just need to haul the wht and oats. Will have a few oats left to sell, but there doesn’t seem to be any buyers willing to pay for them ($4.50ish).

Comfortable with N/C sales position for barley. Should add to my oat position but waiting for $4.50 which I think should come if patient. Might have missed the high in cnl if wanting to move it in 2021?? I think we will see futures rally again in the new year even with the recent rains.

Just a fools opinion.

[katoe]

Im sure spring price endorsement was cancelled cause too many farmers would have taken it this year and cost govt too much money. Just like ritz rolled back the agristability.

[burnt]

Usually $15 or so a ton will buy you a decent put for nov canola, this year double to triple. Even selling futures and buying calls a bit out of the money to protect upside are pretty cost prohibitive. So far the best option was to sell production for fall delivery, risk then is production issues which in my hail belt are very possible.

AFSC took away spring price endorsement this year and with prices where they were I would have considered purchasing it. I guess not enough demand, maybe just too much risk for them to offer that guarantee for a reasonable price.

I always used to find the high premium a tough pill to swallow, until I do a comparison based on percentage of the crop value that you're protecting.

It's a lot of money to buy the put option, but is it really when you compare it to a more reasonably priced option at far lower crop values?

Gotta pencil it out. Might be cheaper than it looks and that's also the entire extent of your maximum risk.

[agstar77]

Re-seeding of canola is underway. Heavy frost on early seeded canola. Fate of early beans unknown.

[furrowtickler]

Re-seeding of canola is underway. Heavy frost on early seeded canola. Fate of early beans unknown.

Never fun