Spring has finally arrived and is passing as we look towards Summer here at Agfinity. Across Alberta, most farmers are finished or nearly finished seeding, and our producers eagerly await rain in hopes of avoiding the catastrophe that was last year’s growing season. Dry weather continues to be an issue in many parts of southern Alberta, meanwhile the farmers in the northern parts of Alberta struggled to get into their fields in time to put seed in the ground. When it comes to farming, there is a lot of uncertainty about the future, and our producers are aware of that.
A very interesting aspect of this year has been the volatility of grain prices. We have seen wild pricing swings in the wheat and Canola markets, and similar patterns are being experienced by the feed grain markets. The rapid ups and downs and highs and lows have been so unpredictable that many of the best market analysts have not been able to get a read on the market or its future. It can be difficult to know what to do with your grain, where to go with it, and when to market it. In times like this, where the future prices of grain markets are so uncertain, and it can be very stressful to gauge when to market your grain.
That’s what we are here for at Agfinity. We are always here to provide you with pricing updates and help you capitalise on the market swings.
It’s important to have a plan when marketing your grain. Obviously, we all want the best price, but evaluating your needs in terms of cash flow and bin space are important factors. I have spoken to many producers lately who are still holding onto their grain, in hopes they can sell it for that absolute top dollar. However, as we head into the summer months and the market starts gearing towards new crop and fall pricing, it’s crucial to have a plan in place to still capitalise on these great prices.
Some questions to ask yourself are: When I need to move this grain? Will I have enough bin space to hold onto this grain until next fall, if I don’t find a price I like now? At what point am I still making a good profit? Historically, have I ever received better pricing? Are my inputs so high that in order to do well, I need to wait for the absolute top of the market price? Do I need a little cash flow going into fall? These are all important questions to consider when looking to start moving the grain you have left.
I also am very curious as to what producers around Alberta are thinking right now regarding new crops. With there being some scattered showers across the province lately, are we starting to think about pre booking some grain? Currently, we are seeing excellent new crop pricing, which is nearly catching up to old crop. Now may be the time to start booking in some of your crop, because historically, around this time is when we are going to see the top new crop pricing.
As we all hold our breath in anticipation for a good crop year, there’s a few final considerations. If we indeed get good moisture, and start seeing high yield crops, many of us may wish we had locked in some of our grain earlier. Maybe you got burnt on pricing last year and are now hesitant to book anymore, which is understandable. Maybe you need an Act of God included, for you to consider booking anything in for the future. Whatever your reservations about new crop might be, we are always here to help at Agfinity. So, give one of our traders a call to discuss your options and we can arrive at a solution together.
Let’s all hope for rain, hope these grain prices continue to stay high and lastly, how about them Oilers? What a run!
Because Farming is Forever
Declan Kummer
Buyer Brief – by Bryce Taylor
Last week the grain markets began a downward slide in wheat and canola prices. The speculators woke up to President Vladimir Putin saying “Russia is ready to facilitate the unhindered export of grain from Ukrainian ports in coordination with Turkey” as reported by the world news network Aljazeera. It also reported that “Putin has said Russia will increase wheat exports in the June July season due to a potential record crop of 87 million tonnes.”
This is significant news for export buyers to contend with here in Western Canada. We have been hearing from buyers this week that canola crush plants are full for July and running out of room for August. Prices though are still hanging around the mid $25/Bu FOB farm. Buyers have also been letting us know that wheat is also getting covered for July and into August. Milling wheat bids hover around the mid $14/bu delivered, with feed wheat values closer to $13/bu FOB Farm.
Looking at Barley, a common comment is that there is very little demand. However, we have seen here at Agfinity that there is still some appetite for loads in July/August around $9.15 FOB farm central Alberta or a $450/MT delivered Lethbridge. If you do need quicker movement it will come at a cost in price. Another interesting comment from buyers is that the recent moisture seen in areas that have desperately needed it has led feedlot operators to feel more optimistic about new crop yields and greener pastures, which may be contributing to falling demand.
Old crop oats have seen an uptick in demand despite earlier reports of higher acres being seeded this year, there is some concern over actual planted acres due to weather conditions. Some buyers have milling oat programs that are offering around $9.00/bu FOB farm for central Alberta with prices available in the North and into Saskatchewan. There are also programs available from buyers of Faba beans and Yellow Peas.
Seller’s Tip: Has the high-high price ship sailed? Try not to be looking at the current high old and new crop prices through the rearview mirror. Call us today at 1-888-969-5552 to get information on how to capitalize on the best cash and target prices offered from buyers across Alberta and Saskatchewan.
Recent Trades
CW Feed Barley (ID: 22111)
220.00 MT
FOB Clyde, AB
Jun 08 – Jul 20
$428.96/MT or $9.34/BU (Gross)
$421.46/MT or $9.18/BU (Net)
TRADED Jun 08, 2022
#2CW Milling Rye (ID: 22105)
88.00 MT
FOB Wanham, AB
Jun 07 – Jul 31
$371.65/MT or $9.44/BU (Gross)
$364.15/MT or $9.25/BU (Net)
TRADED Jun 07, 2022
#2 Yellow Peas (ID: 22082)
38.00 MT
DLVD Stettler, AB
Jun 08 – Jun 10
$612.11/MT or $16.66/BU (Gross)
$604.61/MT or $16.45/BU (Net)
TRADED Jun 07, 2022
CW Feed Barley (ID: 22094)
88.00 MT
FOB Rimbey, AB
Jun 06 – Jul 31
$437.56/MT or $9.53/BU (Gross)
$430.06/MT or $9.36/BU (Net)
TRADED Jun 07, 2022
CW Feed Barley (ID: 22093)
88.00 MT
FOB Neerlandia, AB
Jun 06 – Jul 31
$426.20/MT or $9.28/BU (Gross)
$418.70/MT or $9.12/BU (Net)
TRADED Jun 06, 2022
#2CW Oats (ID: 22021)
88.00 MT
FOB Bonnyville, AB
Jun 07 – Jul 31
$591.08/MT or $9.12/BU (Gross)
$583.58/MT or $9.00/BU (Net)
TRADED Jun 06, 2022
CW Feed CPSR Wheat (ID: 22088)
44.00 MT
FOB Neerlandia, AB
Jun 03 – Jun 30
$511.04/MT or $13.91/BU (Gross)
$503.54/MT or $13.70/BU (Net)
TRADED Jun 03, 2022
NC CW Feed Barley (ID: 22079)
44.00 MT
FOB Lloydminster, SK
Sep 01 – Oct 31
$417.50/MT or $9.09/BU (Gross)
$410.00/MT or $8.93/BU (Net)
TRADED Jun 03, 2022
#2 Faba Beans (ID: 22081)
19.00 MT
DLVD Strathmore, AB
Jun 03 – Jun 03
$580.59/MT or $15.80/BU (Gross)
$573.09/MT or $15.60/BU (Net)
TRADED Jun 03, 2022
CW Feed Barley (ID: 22075)
88.00 MT
FOB Monarch, AB
Jun 02 – Jul 31
$448.43/MT or $9.76/BU (Gross)
$440.93/MT or $9.60/BU (Net)
TRADED Jun 02, 2022
OS #2CW Oats (ID: 22013)
88.00 MT
FOB Bruce, AB
Jun 03 – Jul 31
$598.58/MT or $9.23/BU (Gross)
$591.08/MT or $9.12/BU (Net)
TRADED Jun 02, 2022
Screenings, Mixed (ID: 22046)
35.00 MT
FOB Delmas, SK
Jun 06 – Jun 10
$267.65/MT or $267.65/BU (Gross)
$260.15/MT or $260.15/BU (Net)
TRADED Jun 02, 2022
Feed Oats (ID: 21958)
30.00 MT
FOB Lac La Biche, AB
Jun 01 – Jul 31
$526.24/MT or $8.12/BU (Gross)
$518.74/MT or $8.00/BU (Net)
TRADED Jun 01, 2022
CW Feed Barley (ID: 22062)
132.00 MT
FOB Eckville, AB
Jun 01 – Jun 30
$430.00/MT or $9.36/BU (Gross)
$422.50/MT or $9.20/BU (Net)
TRADED Jun 01, 2022
#1CW HRS Wheat (ID: 22068)
462.00 MT
FOB Galahad, AB
Jun 01 – Jun 30
$549.00/MT or $14.94/BU (Gross)
$541.50/MT or $14.74/BU (Net)
TRADED Jun 01, 2022
CW Feed Barley (ID: 22067)
44.00 MT
FOB Tees, AB
Jun 01 – Jul 31
$428.00/MT or $9.32/BU (Gross)
$420.50/MT or $9.16/BU (Net)
TRADED Jun 01, 2022
CW Feed Barley (ID: 22064)
44.00 MT
FOB Lousana, AB
Jun 20 – Jul 15
$442.15/MT or $9.63/BU (Gross)
$434.65/MT or $9.46/BU (Net)
TRADED Jun 01, 2022
#1CW Canola (ID: 21954)
34.00 MT
FOB Beaverlodge, AB
Jun 01 – Jun 30
$1,136.02/MT or $25.76/BU (Gross)
$1,128.52/MT or $25.59/BU (Net)
TRADED May 31, 2022
OS CW Feed Barley (ID: 22044)
220.00 MT
FOB Andrew, AB
Jun 01 – Jun 30
$421.00/MT or $9.17/BU (Gross)
$413.50/MT or $9.00/BU (Net)
TRADED May 31, 2022
NC CW Feed Barley (ID: 22050)
88.00 MT
FOB Stony Plain, AB
Sep 01 – Oct 31
$420.87/MT or $9.16/BU (Gross)
$413.37/MT or $9.00/BU (Net)
TRADED May 31, 2022
CW Feed HRS Wheat (ID: 22045)
204.00 MT
FOB Thorhild, AB
May 30 – Jun 10
$580.00/MT or $15.78/BU (Gross)
$572.50/MT or $15.58/BU (Net)
TRADED May 30, 2022
CW Feed Barley (ID: 22048)
132.00 MT
FOB Smoky Lake, AB
May 30 – Jun 30
$434.65/MT or $9.46/BU (Gross)
$427.15/MT or $9.30/BU (Net)
TRADED May 30, 2022
#2 Faba Beans (ID: 22047)
44.00 MT
FOB New Norway, AB
Jun 01 – Jun 30
$558.51/MT or $15.20/BU (Gross)
$551.01/MT or $15.00/BU (Net)
TRADED May 30, 2022
OS CW Feed Barley (ID: 22034)
176.00 MT
FOB Vilna, AB
May 27 – Jul 31
$439.24/MT or $9.56/BU (Gross)
$431.74/MT or $9.40/BU (Net)
TRADED May 27, 2022
CW Feed Barley (ID: 22029)
176.00 MT
FOB Wetaskiwin, AB
Jun 01 – Jun 30
$441.54/MT or $9.61/BU (Gross)
$434.04/MT or $9.45/BU (Net)
TRADED May 27, 2022
CW Feed Barley (ID: 22031)
44.00 MT
FOB Lamont, AB
Jun 01 – Jun 30
$432.35/MT or $9.41/BU (Gross)
$424.85/MT or $9.25/BU (Net)
TRADED May 27, 2022
CW Feed Barley (ID: 21934)
44.00 MT
FOB Bruderheim, AB
Jul 01 – Jul 31
$436.95/MT or $9.51/BU (Gross)
$429.45/MT or $9.35/BU (Net)
TRADED May 27, 2022
Feed Durum (ID: 22023)
80.00 MT
FOB Briercrest, SK
Jun 01 – Jul 31
$527.25/MT or $14.35/BU (Gross)
$519.75/MT or $14.15/BU (Net)
TRADED May 27, 2022
CW Feed Barley (ID: 22028)
44.00 MT
DLVD Edmonton, AB
Jun 01 – Jun 15
$450.00/MT or $9.80/BU (Gross)
$442.50/MT or $9.63/BU (Net)
TRADED May 27, 2022
#1CW Canola (ID: 22007)
168.00 MT
FOB Crossfield, AB
May 28 – Jun 30
$1,196.67/MT or $27.14/BU (Gross)
$1,189.17/MT or $26.97/BU (Net)
TRADED May 27, 2022
CW Feed Barley (ID: 21977)
88.00 MT
FOB Worsley, AB
Jul 01 – Jul 31
$405.00/MT or $8.82/BU (Gross)
$397.50/MT or $8.65/BU (Net)
TRADED May 27, 2022
CW Feed Barley (ID: 22020)
88.00 MT
FOB Camrose, AB
Jun 01 – Aug 31
$449.09/MT or $9.78/BU (Gross)
$441.59/MT or $9.61/BU (Net)
TRADED May 27, 2022
#2 Yellow Peas (ID: 21865)
44.00 MT
FOB St. Paul, AB
May 27 – May 31
$675.84/MT or $18.39/BU (Gross)
$668.34/MT or $18.19/BU (Net)
TRADED May 27, 2022
CW Feed Barley (ID: 22006)
44.00 MT
FOB Rosalind, AB
Jun 01 – Jul 31
$442.20/MT or $9.63/BU (Gross)
$434.70/MT or $9.46/BU (Net)
TRADED May 26, 2022
CW Feed HRS Wheat (ID: 22019)
44.00 MT
FOB Camrose, AB
Jul 01 – Jul 31
$559.20/MT or $15.22/BU (Gross)
$551.70/MT or $15.01/BU (Net)
TRADED May 26, 2022
CW Feed Barley (ID: 22001)
88.00 MT
FOB Glaslyn, SK
May 26 – Jun 30
$420.87/MT or $9.16/BU (Gross)
$413.37/MT or $9.00/BU (Net)
TRADED May 26, 2022
OS CW Feed Barley (ID: 22009)
132.00 MT
FOB Crossfield, AB
May 26 – Jun 30
$416.13/MT or $9.06/BU (Gross)
$408.63/MT or $8.90/BU (Net)
TRADED May 26, 2022
CW Feed Barley (ID: 21983)
176.00 MT
DLVD Edmonton, AB
Jun 01 – Jul 31
$448.43/MT or $9.76/BU (Gross)
$440.93/MT or $9.60/BU (Net)
TRADED May 26, 2022
CW Feed Barley (ID: 22002)
88.00 MT
FOB High Level, AB
Jun 01 – Jun 30
$393.31/MT or $8.56/BU (Gross)
$385.81/MT or $8.40/BU (Net)
TRADED May 26, 2022
CW Feed SWS Wheat (ID: 22017)
44.00 MT
FOB Wainwright, AB
May 25 – Jun 15
$531.50/MT or $14.46/BU (Gross)
$524.00/MT or $14.26/BU (Net)
TRADED May 25, 2022
CW Feed Barley (ID: 22010)
28.00 MT
FOB Stony Plain, AB
May 25 – Jun 30
$422.50/MT or $9.20/BU (Gross)
$415.00/MT or $9.04/BU (Net)
TRADED May 25, 2022
#3 Green Peas (ID: 21986)
88.00 MT
FOB Thorsby, AB
Jun 01 – Jul 31
$492.67/MT or $13.41/BU (Gross)
$485.17/MT or $13.20/BU (Net)
TRADED May 25, 2022
CW Feed Barley (ID: 21995)
88.00 MT
FOB Lloydminster, SK
May 26 – Jun 30
$430.97/MT or $9.38/BU (Gross)
$423.47/MT or $9.22/BU (Net)
TRADED May 25, 2022
CW Feed Barley (ID: 22011)
44.00 MT
FOB Morrin, AB
May 25 – Jun 30
$439.85/MT or $9.58/BU (Gross)
$432.35/MT or $9.41/BU (Net)
TRADED May 25, 2022
