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Rayglen Market Comments - March 22, 2017

Canola markets for the past few months have been trading anywhere from $510/MT - $530/MT. Early last week prices broke below that cart support level, which was bearish and on Thursday futures broke below yet another major chart support level (roughly $502/MT). Today we seen some weakness in the nearby May futures, but strength in further months. May lost $3.30/MT down to $501.60/MT. That works back to roughly $10.80/bu delivered to plant with a negative $25/MT basis. If you’re looking for new crop values, call the office to discuss your options. Rayglen is also working on putting a canola program together, delivered to different areas of Sask and Alberta. Stay tuned for more information. ...

Rayglen Market Comments - March 15, 2017

Canola markets have had a rough week, with futures ending today’s trading session at their lowest values in some time. Over the course of the last 3 days, we have lost roughly $12.00/MT on the nearby May futures. They closed today at $510.80/MT. Basis levels continue to hover around $25.00/MT under, putting spot bids delivered to plant near $11.00/bu. Weakness came from bigger soy oil stocks and a stronger Canadian dollar. New crop still looks like a good play to secure movement, cashflow and to help mitigate storage risks. With an expected large increase in canola acres this year, finding shipment off the combine in September may be tough. With depressed values, it may be a good idea to consider a basis only contract. This will ensure a delivery window and allow you to lock in your price when you see fit. We expect basis levels won’t get any better and are more likely to widen come harvest. ...

Rayglen Market Comments - March 08, 2017

Prices on canary seed have been quiet yet again this past week. Exports this season have totaled around 12,300 MT, which is down from the previous year at 23,500 MT. Thoughts are this has a lot to do with weaker prices seen throughout the year. The main importer of canary seed is Mexico, who currently has weak peso and therefore their buying power is not the strongest right now, offering some explanation to softer pricing. Acres seeded this past year were down from the previous year, but prices are not showing that currently. There were approximately 260,000 acres seeded down from 2015, which was at 325,000 acres. Values and trades are currently sitting around $0.20/lb FOB the farm. ...

Harvest for Kids Grain Bag Prices

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Rayglen Market Comments - March 01, 2017

At the beginning of the week yellow and green pea markets were unchanged from last week – both trading at $8/bu FOB. As Monday came to a close, yellow peas came down a bit to more of a $8/bu delivered bid. For growers in the south east we might be able to get a more aggressive price. According to a STAT report, as of right now peas are trading on an uncertain tone. There is a still a lot of chatter on what will happen with India and if another fumigation extension will be granted. With the extension looming on expiration, grower bid levels and export asking prices have seen a drop. Canadian officials are actively working on a solution with India and we will just have to wait and see on what conclusion can be made from this. ...

Rayglen Market Comments - February 22, 2017

The canary seed market is very dependent on the Mexican peso. The peso is very weak at the moment and that is limiting buying power, which keeps shipments to a minimum and values at bay. A carryover of canary seed from last year is not helping either, although supplies don’t seem to be too burdensome compared to demand as we are not seeing any major downward price swings. Canary seed values are not great at the moment, but on the bright side, unlike many other commodities, the market remains stable. We expect to see an increase in seeded acres next year as producers look for low disease risk options. Last year the acres were down from 325,000 acres in 2015 to 260,000 acres in 2016. A realistic price today is in the range of $0.20 to $0.21/lb FOB farm depending on area and freight charges. That price might ruffle some feathers with producers, but that is the reality in the canary seed market today. ...

Recent Commodity Bids

  • 2017-03-27

    Lentils - Large green

    Movement: FOB September - December, 2017

    Area: Southern Sask Contract Type: Production Contract

    $0.36/lbGrade: #1 Canada

  • 2017-03-27

    Lentils - RED, Small

    Movement: DELIVERED September - December, 2017

    Area: Contract Type: Production Contract

    $0.23/lbGrade: #2 Canada

  • 2017-03-27

    Lentils - RED, Small

    Movement: DELIVERED April - May, 2017

    Area: Contract Type: Spot Purchase

    $0.21/lbGrade: Extra #3