Grain News

Rayglen Market Comments - July 26, 2017

There has been limited change on the pea markets this week; compared to last. Looking at the crop conditions, the US is in significantly worse shape than Saskatchewan and Alberta. We have many spots in Saskatchewan that are quite dry. However, peas seem to be performing well, for the most part, since they aren’t grown in the driest southern areas. Reading through a Stat report, the Saskatchewan pea crop is rated 66% good to excellent. Moisture stress seems to be a common theme and isn’t only affecting North America. Australia’s pea crop is also down from last year and if rain doesn’t show up soon, production estimates may have to be trimmed further. With these weather issues there still seems to be little price response with old crop pricing coming closer to matching new crop values. Green peas are sitting at $8.00/bu picked up and select areas are showing $8.50/bu picked up on yellow peas. ...

Read More

Rayglen Market Comments – July 19, 2017

Wheat has been the main topic in the office this week, mainly focusing on new crop durum values. With very low precipitation this year in key durum growing areas, the market is reacting and prices are rising. Another positive of little moisture this year is we shouldn’t see as much disease in the durum compared to last year when too much moisture was a concern. There are a few different options on new crop durum, so if you are interested, make sure to call your merchant or the office. Feed wheat is still holding strong and depending on the area, specs, and type of wheat you have, values will vary. There are also significant premiums on low vomi feed wheat (under 1 ppm vomi). ...

Read More

Rayglen Market Comments – July 12, 2017

Soybean futures hit a four-month high Tuesday on worries about stressful crop weather in the Midwest and as traders squared positions one day ahead of monthly reports from the U.S. Department of Agriculture. August beans gained 4 ½ cents to $10.29 ¼ and November added 4 cents to $10.43 ¼. After Tuesday’s gains the market of course did some correcting back down 8.4 cents Wednesday. Locally, the pricing works out to better than $11/bu picked up in the yard for any remaining product in the bin with a couple different buyers saying they are looking for firm offers on product to move quite quickly. More heat and dryness through the Midwest US will most likely keep support for the futures for the time being as we make our way through this cropping season. ...

Read More

Rayglen Market Comments - July 05, 2017

No big changes in feed wheat market prices this past week. We still have bids around $3.75/bushel picked up for max 10 parts per million salvage grade durum. This bid is dependant on a bushel weight of 58lbs. Discounts will be added upon light or tough product. On traditional feed quality (under 1 ppm vomitoxin) the prices are considerably better; still hovering in the mid $4.00/bu range. The hot priced commodity this week in the wheat world is good protein western red spring with new crop and old crop pricing indications up over $9.00/bu delivered to plant. The durum market looks like it will be starting to perk up a little again with more interest floating around the country. Call the office with your specs and we can work up a bid picked up in the yard or loaded rail nearby. ...

Read More

Rayglen Market Comments - June 29, 2017

This year chickpeas have been the most profitable crop that has been put in the ground. With new crop still sitting around $0.52 /lb for a #2 quality with discounts available to be locked in on lower grades, growers can lock in some very profitable numbers for the fall of 2017. Those new crop pricing opportunities also come with an act of God clause and are based off of picked up on farm numbers for September to December movement. As for old crop, it has been trading at $0.65 /lb for a #2 price as a FOB farm bid across the board on sizing with some max allotments on the 7mm and smaller sizes. Buyers are looking for all grades currently and high green count and damaged product is still very aggressively priced. If you still have some product left unpriced in the bin, we can figure out a price for you based on your quality and amount. ...

Read More

Rayglen Market Comments - June 21, 2017

Not much change in mustard markets this past week. Growers continue to hope for rain in select areas as germination is an issue for some. The picture should become a little clearer as we move forward with showers forecasted for many areas all week. Carryover is still on the heavy side, so we should watch weather going forward. Attractive new crop mustard options are still available. Brown has triggered at 35 cents, on par with yellow, while oriental remains at 33 to 34 cents/lb FOB farm for full crop year movement. These are act of God contracts and picked up in the yard. Spot mustard is stable at 30 to 31 cents on yellow, 28 to 29 cents on oriental and as high as 36 cents in some trades on brown. Call the office for a variety of different movement options for all new crop contracts and talk to your merchant. ...

Read More

Rayglen Market Comments - June 14, 2017

Not much change in the mustard markets during the past week. Some concerns have crept into the market about dry conditions in some mustard growing areas, but not enough to affect the markets quite yet. Showers and rain have been forecast to move through some of these dry areas next week. The picture should become little clearer as we move forward. Carryover is still on the heavy side, but we should watch weather going forward. Attractive new crop mustard options are still available. Brown has triggered at 35 cents, on par with yellow, while oriental remains at 33 to 34 cents/lb FOB farm for full crop year movement. These are Act of God contracts and picked up in the yard. Spot mustard is stable at 30 to 31 cents on yellow, 28 to 29 cents on oriental and as high as 36 cents in some trades on brown. Call the office for a variety of different movement options for all new crop contracts and talk to your merchant. ...

Read More

Rayglen Market Comments - June 07, 2017

The local feed wheat market has not changed a whole lot in the past week. We still have a few buyers looking to pick up max 10 ppm vomitoxin product at $3.50 to $3.75/bu in the yard. Opportunities for low vomi, under 1 ppm, are still available and at aggressive levels with bids coming in at $4.50 to $5.00/bu picked up in the yard in most areas. These bids are for high quality feed with specs and freight the determining factor. Milling wheat prices are a little stronger as of late, based on news of US crops not looking quite as strong. We have a few buyers with some interest in milling durum still in the bin so get your grades into the office to see if we can work out a bid for you. If you are looking for a fall price on new durum, markets have not been overly aggressive, but there are some selling opportunities available. ...

Read More

Rayglen Market Comments - May 31, 2017

Soybean traders were awaiting Tuesdays U.S. crop condition rating. U.S. soybean planting is progressing on pace at 67% planted. 37% of the crop has emerged, which is behind the annual average of 40% emerged. Recently soybean futures traded down hard on technical selling linked with improving U.S. weather forecasts. The active Fund selling was spurred by continued Brazilian pressure on U.S. demand and the idea of more U.S. soybean acres for the current growing seasons as some Midwest farmers have struggled to plant corn amid an anomalously wet spring. In recent news, China’s soybean buyers are pushing to delay soybean imports largely originated from Brazil. Its estimated that this involves 5-7 panamax-sized vessels (~360,000MT total). Chinese soybean crush profits have swung to the biggest losses in nearly three years after China's edible oil markets were flooded with rapeseed oil auctioned from national reserves and by growing imports of other alternative vegetable oils. This week Canadian old crop soybean prices are near $11.00/bu FOB farm and new crop values are $10.70/bu delivered. ...

Read More

Rayglen Market Comments - May 24, 2017

No big changes to the feed wheat market these days as a large amount of high vomitoxin product remains in the system and feeders are slowly working their way through it. That being said, markets have been marginally stronger over the past few weeks than previously seen throughout the winter, with bids at $3.50/bu or better in many areas. Product must make spec, weighing up at 58 lbs, dry and having a max vomi of 10 parts per million. There is still a market on product over 10ppm vomi, lighter than 58lbs, or both, but it obviously comes at a discounted value. For growers in the southeast portion of Saskatchewan we still have buyer interest in #1 US grade durum for both product in the bin and for fall as well. Bids on this durum program are at around $7.75 FOB farm and quality is pegged at 300 falling number, max 1 ppm vomi and 85 HVK. If you have some product that would fit the bill touch base with your merchant. ...

Read More

Rayglen Market Comments - May 17, 2017

Flax prices are a little softer this week with $12.50/bu delivered trading on #1 quality. Milling quality flax is still holding at $12.50/bu picked up in select areas. New crop prices are quiet this week, with little to no buyers interested. If there is any old crop yellow flax still on farm, $15.00/bu picked up in most areas should work. We are seeing bids on new crop yellow flax in the $13.25/bu delivered range. Flax volumes to the US were up slightly the last couple of months, but still well behind the average. Demand from Europe is trailing from last year, which leaves China as the dominant buyer. However, we are hearing of stockpiles of flax in China from recent Russia exports. For those with spring thrashed flax, we do have markets. Keep in touch with any moves in the market during this time of year with our email or text alerts. ...

Read More

Rayglen Market Comments - May 10, 2017

Over the week, the market on peas has seen little change. We have old crop yellow peas trading at $9.00/bu picked up and green peas seeing bids at $8.25/bu delivered plant. For new crop, we had a little bump in larger variety green ...

Read More

Rayglen Market Comments - May 03, 2017

Soybeans have experienced a small rally due to the recent weather events in the U.S. Chicago Jul ’17 futures raised $0.20/bu up to as high as $9.75/bu. More heavy rain forecasted for Missouri/Indiana as a new storm is set to cross the US mid-south late Wednesday. Traders are waiting to see whether soybeans may be planted to replace some corn acres that were flooded from the recent heavy rains. Monday’s USDA crop progress report pegged nationwide soy planting at 10% complete as of Sunday, up just 4 points from a week earlier, but enough to push overall progress 3 points ahead of last year and the five-year average. A new fresh 14-month low for the Loonie had it trading below $0.73 USD, which continues to prop up our local bids. New crop average local bids are hanging around $11.50/bu. ...

Read More

Rayglen Market Comments - April 26, 2017

The feed wheat market is a little stronger here today as bids on max 10 ppm vomitoxin product with good weight (58lbs) and dry (max 14.5%) are up to $3.25 or better picked up in a lot of areas. Most of this product would be going southwest so these kinds of numbers obviously will be affected by freight costs the further north and east you are located. Touch base with your favourite, or second favourite merchant to a get a bid picked up on your farm. We do have some premiums on low vomi wheat (under 1ppm) at $4.00/bu or better floating around still, but some of these programs are specific to the type of wheat for best prices (red wheats ideal). Milling markets are showing minimal bids to speak of lately, but if you have some specs let us know what they look like and we can see what we can drum up. For durum growers in the southeast part of Saskatchewan, let us know your quality as we still have some pricing opportunity on milling quality in that area. ...

Read More

Rayglen Market Comments - April 19, 2017

It has been yet another quiet week in the spot canary seed market, but we have seen some life in new crop bids. Reports suggest buyers ...

Read More

Rayglen Market Comments - April 12, 2017

Last week we saw a fair increase in the amount of pea trades hitting the books. Yellow peas lead the way for the most part, with buyers working off a $9.00/bu delivered bid and sellers locking up some tonnage. For a larger variety green pea, we have been seeing bids around $8.25/bu picked up on farm, which has encouraged light trade. We suspect some increase in demand due to the fumigation issue being cleared up for the time being. The exemption has been extended to June 30th, but there are no clear solutions on what will happen come July. Per a STAT report, we will see a decrease in pea acreage in both the US and Canada acreage this planting season. As we have seen this year there has been a lack of a green pea price premium, which is why green peas are expected to account for most of the acreage decrease. On to the 2017/2018 crop year, we have been seeing some values starting to pop up on both greens and yellows. Talk to your merchant to discuss new crop values. ...

Read More

Rayglen Market Comments - April 05, 2017

Yet another slow and uneventful week in the canary seed market with little interest in purchasing from buyers or marketing from sellers. Most are not too excited at the current price levels of 19 to 20c/lb FOB farm. This market is at a standstill and seems like it’s more likely to drop than increase. We guess this as reports are projecting acres to shoot up to around 311,000 acres. Those are just projected numbers; we will see what gets planted this year. Keep in mind we have a very useful offer system that can help to squeeze every penny out of the market. ...

Read More

Rayglen Market Comments - March 29, 2017

Nothing new to report on oats this week as the market has remained flat. Dry and heavy feed oats on the eastern side of Saskatchewan and into Manitoba still have potential to be traded at $2.00/bushel picked up in the yard with prompt movement. Dry feed oats in general are attractive to buyers so be sure to let us know if you have any in the bin. #2 CW oats are sitting around $3.10/bushel for quick movement and $3.25/bushel later movement delivered into southern Manitoba. FOB options exist, but price is dependent on location. New crop prices are quiet, as has been the case for the past few weeks, so using our firm offer system is a good way to show buyers your product and target value. Be sure to call your merchant to discuss options. ...

Read More

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. ...

Read More

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. ...

Read More