Thanks for you comments on crop conditions Cowman, Ian, Crusher, Tom and Chas. Keep those comments coming (as Brenda indicated, comparisons with previous years/normal yields is usefull). I am most interested in the later crops.
No comments on markets other than the typical zigs and zags as the market gets used to a tighter feed grain situation. As a feed grain user, I would be using the current dip (around $3/bu Oct./Nov.) to buy cash feed barley as a mechanism to have supply commitment. A word of warning is the spot market has not come down (still $154/t Lethbridge).
Nervousness in the canola market is mainly soybean related but I suspect the market is going to have to deal more with our own situation during August. The million dollar question is which side of 5 MMT production will be.
Wheat remains frustrating. Slow export program out of the US is the major factor.
Grain companies are starting to show interest in yellow peas edibles at or close to $5/bu. Look for a good sized export program this fall. A note to take advantage of it as demand will slow in the winter (Aussie crop on scene/India harvest). Feeds will perk up with the feed grain market (start thinking of peas as an energy source). My suspicion is there would be a lot of nice bright green peas this year (lots of bleaching). If you are lucky enough to win the quality lottery on greens, look for good premiums to yellows.
Lentils watch quality distribution. Lairds the most optimistic on price - small seeded and reds the least.
Canary seed and mustards - prices on move higher. Not enough supplies.
No comments on markets other than the typical zigs and zags as the market gets used to a tighter feed grain situation. As a feed grain user, I would be using the current dip (around $3/bu Oct./Nov.) to buy cash feed barley as a mechanism to have supply commitment. A word of warning is the spot market has not come down (still $154/t Lethbridge).
Nervousness in the canola market is mainly soybean related but I suspect the market is going to have to deal more with our own situation during August. The million dollar question is which side of 5 MMT production will be.
Wheat remains frustrating. Slow export program out of the US is the major factor.
Grain companies are starting to show interest in yellow peas edibles at or close to $5/bu. Look for a good sized export program this fall. A note to take advantage of it as demand will slow in the winter (Aussie crop on scene/India harvest). Feeds will perk up with the feed grain market (start thinking of peas as an energy source). My suspicion is there would be a lot of nice bright green peas this year (lots of bleaching). If you are lucky enough to win the quality lottery on greens, look for good premiums to yellows.
Lentils watch quality distribution. Lairds the most optimistic on price - small seeded and reds the least.
Canary seed and mustards - prices on move higher. Not enough supplies.
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