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Rayglen Market Comments – July 10, 2019

Oat prices are still holding sideways with old crop showing up to $4.10/bu delivered. This comes even with the increase of seeded acres, primarily in Saskatchewan, as low supplies of oats have resulted in higher prices as of late. Like the Saskatchewan crop, Alberta oat crop conditions are rated higher than they were even just two weeks ago. The latest provincial report pegged the oat crop condition at 74% good-excellent, just behind barley. New crop prices remain in the $3.35-$3.60/bu range depending on delivery time. There is still some movement on feed oats if you have any left in the bins. For those looking to move some product before harvest, we do have some prompt movement available.

Old crop lentil pricing has come to a bit of a stall. Previous highs, for the most part, have now fallen, bridging the gap between old and new crop values. Moisture has been received in most areas relieving some pressure. Aside from a few outliers, reports coming through Rayglen show the majority of the pulses holding up through the lack of early moisture and looking quite well at this time. Due to this, on farm selling has been steady to make room in the bins for the 2019 crop. Currently, old crop prices are 21-22 cents FOB on #2 large greens, 18 cents on #1 small greens and 18-18.50 FOB on #2 red lentils. New crop prices are still sitting strong at 21 cents FOB on a #2 or better for large greens, 18 cents FOB on #1 small greens and #2 red lentils.

Barley prices have trickled off a bit from previous highs but are still sitting quite competitive. Feed barley values, in most cases, are trading above malting values. For barley in the bin, prices have been trading at $4.75 – $5.20/bu FOB getting stronger as to you head closer to Alberta. The opportunity to lock in an Act of God on new crop barley is still available, with pricing ranging from $4 – $4.50/bu FOB. There are movement options from October – December and January – February to suit your farm’s needs.

Chickpea markets are sideways to lower this week as there has been little news to report. Minimal producer selling has taken place to eat into on farm stocks so as we get closer to the new crop coming off, buyers are not feeling any pressure to pay up for chickpeas that are already in the bin. As for pricing, current spot bids are in the 23 cents/lb range FOB farm with pickup in the next month. New crop contracts continue to be available at 24 cents/lb FOB farm for a September-December movement and a full AOG. As always, if you have a target price in mind on both old or new crop be sure to give us a call and post it on our website.

According to StatsCan estimates, pea acreage for the 2019 crop year is pegged at 4.3 million acres; roughly a 20% increase over last year and if true, a new record. This entails a 35% increase in green peas, 17% more yellows and a large 43% bump in “others” classification. Acre wise, that’s 3.5 million yellow peas, around 630,000 green peas and approximately 170,000 of other classes of peas. Reading these estimates makes it a little easier to understand that bids are few and far between on both new and old crop peas of all varieties. If you’re able to find bids, yellow pea prices likely trade around $6.50/bu FOB. Green peas have been very tough to move this week and we suggest growers give firm targets – call to discuss value.  New crop bids are also thin with unsuccessful targets at $6.50/bu on yellows and $8.00/bu on greens. Maple peas have some life at $9.00/bu, both old and new crop.

Canaryseed is holding strong again this week with markets sitting at $0.24 Fob farm for July movement. With prices remaining stable as we get closer to new crop this would suggest that the buyers maybe concerned that supplies maybe tightening. The seeded acreage reported was reduced from earlier estimates back in April. Yield will likely be reduced as well due to weather. The wild card in this scenario is what is being reported in the bins, as there always seems to be more stored than stated.  Adding the three scenarios together should still put Canary in a good position to become bullish.

Not much has changed since last weeks report on wheat. $6.00/bu FOB farm seems to be the going rate for feed wheat, that is unless you are near the feed lots in Alberta, in which case you may garner in and around that $6.60/bu FOB farm. Old crop durum is trading around that $6.00 – $6.25/bu FOB farm with milling wheat pulling down $6.30 delivered to plant with a minimum 13.5 protein. Looking ahead to new crop, durum is $7.00/bu delivered to plant with no worthwhile bid on milling/#1 wheat. New crop feed wheat is fluttering around that $5.00/bu FOB farm for Sept – Dec movement. On a whole, with some of the issues out there globally, ending wheat stocks are projected to come down a bit, but… that is being overshadowed as global wheat stocks are up (17MMT) compared to last year. Time will tell how this one plays out.

There have not been any major swings to the canola market this week. We patiently await a resolution to political issues regarding China, but there is no clear end in sight. As for the crop, rain has done wonders for the struggling oil seed. It was only a few weeks ago crops were looking pretty sad, but for the most part everything has taken a turn for the better. There are definitely some areas that are still not looking good and will have some staging issues. The board today is still green for old crop but weakens for new crop. Prices for right now are between $8.85-9.10/bu FOB farm for movement through November.

Flax is holding steady again this week, with bids sitting around $14.25/bu delivered to plant on a #1 quality for old crop. New crop is bid at $12.25-$13.00/bu with an act of God. Contract grade (milling or #1 quality) and location will affect the bid. For the most part, it sounds like the rains came at the right time and crops are looking quite nice. With an estimated acreage increase of 9% in Canada, 50% in the US and general reports of decent looking crops all around, our recommendation is to sign 10bu/acre and hedge your bets. If values drop, you’ve got some product already locked in. If values increase, sell overage to increase your bottom line. Taking some risk off the table and still attaining an attractive number on the first 10bpa is a smart play in our opinion. Yellow flax is still at the same as last week with bids for both old and new crop at $14/bu FOB farm in select locations.

Ambiguity for Thursday’s USDA report encompasses both production and demand. The USDAs surprisingly low forecast on June 28th still has the trade perplexed and awaiting new numbers. Soybeans face lost acres and lower yields that could make for an interesting market. Local soybean bids are trading in the range of $9.75-$10.00/bu picked up on farm. Faba market is standing-pat right now with much of the old crop having found homes and new crop buyers assessing actual seeded acres and international demand prior to sticking their chin out. New crop #2 faba bean bids continue to hover near $7.50-$8.00/bu delivered. Dry bean bids have been static with the anticipation of a modest increase in North American seeded acres. Late seeding in the East could change the production picture and spur market activity.

The mustard market seems to be watching crop conditions this week and for the most part, staying steady. We have seen a slight bump in yellow mustard price recently though. Mustard conditions have perked up some due to recent rains, but the crop is behind and will obviously face its hurdles due to early drought. Right now, yields are uncertain as many crops are staged after the rain spurred secondary growth. Current spot bids are up to 36 cents/lb for yellow mustard. We have also seen the new crop price bump to 36 cents/lb for march movement with Act of God. The brown market is still at 30 cents as a picked up in the yard price on new and old. Oriental remains slow with new crop pricing available around 25 cents while old crop prices remain in the 23 to 24 cent/lb range. Call the office for different and possibly quick movement options.

Rayglen Market Comments are for informational purposes only. Rayglen Commodities and its agents or employees shall not be liable for any loss or damage suffered by any person as a result of reliance on any of the contents contained within these products, whether such loss or damage arises from negligence or misrepresentation or any act or omission of its agents or employees

 


Rayglen Market Comments – July 4, 2019

Spot Canaryseed prices have been holding at 24 cents picked up the last couple of weeks. New crop is holding at 23 cents, picked up, with a full act of God. There has been a market shift over the last month due to many factors. Heavy rains the past 10 days have helped our crop conditions however, some analysts write that a yield drop is still almost certain. India’s nigerseed is also steady, but the Indian government pegged the 2018/19 production at 63,000 tonnes, the smallest crop in the last 20 years. Market prices on canary are likely to hold sideways until supplies start to decline.

Despite the latest StatsCan report showing an increase in acres, primarily in Saskatchewan, oat prices are still holding strong with up to $4.10/bu delivered available. Low carryout supplies have resulted in higher prices as of late. New crop prices remain in the $3.35-$3.60/bu range depending on delivery time. Feed oats have been less bullish due to corn futures backing off in the last week, although Wednesday’s corn run may help some. For those looking to move some product before harvest, we do have some prompt movement still available.

Now that we have seen the acreage numbers, yield potential will be the new discussion on lentils. These past couple of weeks we have seen widespread rains throughout Saskatchewan and, for the most part, lentils were able to hold on through the lack of early moisture. Many fields have taken a turn for the better and actually look quite nice. Yield potential could struggle to meet the 5-year average, as per Stat reports, but carryout and what we expect to be a largely planted crop across the prairies, leaves less concern over supply. Since the rains, there has been increased grower interest in locking in the first 10 bu/acre with an Act of God. Red lentils are trading at 20 cents/lb delivered on old crop and 18c/lb FOB on new crop. Large greens are at 21-21.50 cents/lb FOB on a #2 and new crop has been trading at 23c (X2)/21c (#2) FOB with AOG. Small greens trade at 19 cents delivered on a #1, while new crop triggers at 18c (#1)/16c (#2) FOB.

Continued rain events seem to be reaching most of the prairie provinces and turning crops around. That means some of the strong spot feed wheat prices have trimmed down to around $6.00 FOB farm with higher prices being obtained near feedlot ally, which captures about $7.00 delivered. Old crop milling wheat took a bit of a hit with new crop just around the corner. $6.40/bu with 13.5% protein delivered to plant for August seems to be the going rate. Old crop and new crop durum remain par and sit around that $7.00 delivered to plant, with new crop feed wheat fetching you around that $5.00/bu FOB farm for Sept – Dec movement. New crop milling wheat remains a tad lackluster this go around, but if that should change, we will keep you in the loop. The futures market remains optimistic with the wild weather across the globe, so stay tuned.

The mustard market remains on cruise control the past few weeks, with prices about the same as they have been. Current bids show 35 cents/lb for yellow mustard, both spot and fall pricing. The brown market is still bid at 30 cents as a picked up in the yard price on new and old. Oriental is the one stickler of the bunch; new crop pricing is available around 25 cents whilst old crop prices are very hard to track down. Some old crop oriental pricing was found at 24 cents with movement getting pushed into fall, obviously not curing the bin space issues that some growers are looking to rectify. Mustard conditions have perked up some due to recent rains, but the crop is behind and will obviously face its hurdles. We would still expect a lower than average yield on this crop at this time. We look to dry crop conditions in the black sea area to possibly provide a shimmer of hope on pricing as well.

The month of July can be a very shaky month for peas, but there will be little to no change in markets unless the weather takes a turn for the worse. Weather watching not only here in Canada, but also overseas. For example, if the monsoon rains in India are poor and the irrigation reservoirs are depleted, we may see India jumping back into the market and doing some purchasing in 2020.  With that being said, prices are sluggish and unchanged from previous weeks. New crop yellow peas continue to hover at $6.50/bu FOB, while old crop remains bid at $6.80 to $7.00/bu delivered. The green pea market has been slow as well and sits around $11.00/bu FOB, area specific. Firm new crop bids come in at $7.50/bu with a slight chance at $8.00 bu/FOB farm. For most up to date prices in your area, please call your Rayglen merchant.

StatsCan seeded acreage survey gathered that flax is up 9% from last year, which seems a bit lower than anticipated. With that being said, the market setters are Kazakh, Russia and Western Canada following. Even being third on the list, shortly after the report came out markets softened. We still have buyers that are looking for brown flax just over $14/bu delivered, so if you have product that you want moved, now might be the best time before their position is filled. New crop bids are still available ranging between $12.25-12.50/bu FOB farm on #1 quality, with an act of God. Yellow flax is around $14/bu delivered to plant on old crop and new crop bids hit $14/bu FOB in select locations.

Canola markets take another hit to start the week with an average drop of $5/MT. This is believed to be due to short positions being filled and continued precipitation throughout Western Canada. There are still several areas that are suffering dry weather, but this has had little effect on the grand scale of the market. Current values hover at $9-$9.50/bu FOB farm through to November and $0.20-0.30/bu carry out to March 2020 (freight sensitive). We can not expect any big swings in Canola as we wait out political and environmental issues.

Barley markets have maintained a good value, but are starting to trend downward as rain continues through the greater parts of Ab, Sk and Mb. There are pocket regions of acres that are still dry, but for the most part, increased acres and continued precipitation equal lower values. Feed barley new crop values range from $4-4.25/bu FOB farm and old crop at $5.00-$5.50/bu FOB farm. Malt barley is steadfast as the nearby markets filled and deferred month values for 2020 are not trigger levels for growers. Still some volatility on malt as we move through the summer months. New crop Malt, valued on average, at $5-5.10/bu FOB farm NO AOG throughout Western Canada.

Picking up from last week on what is now old news, on the 28th the USDA estimated 2019 US soybean seeded acres at 80 million. The 10% decrease from 2018 was a shock to the trade and left many questioning the validity of the survey that places seeded acres at their lowest since 2013. Nonetheless, the market reacted upwards and has since corrected a little. Ultimately markets must wait six weeks to learn more about acreage, which should create choppy markets that are trading based on the weekly crop progress reports. Soybeans may be gazing down the barrel of lost acres and lower yields that could make for exciting markets. Local soybean bids are trading in the range of $9.75-$10.00/bu picked up on farm. Faba traders still attempting to ground Stat Can’s puzzling 18% decrease in faba seeded acres. New crop #2 faba bean bids continue to hover near $7.50-$8.00/bu delivered. Dry bean planting delays in both Ontario and Michigan could drag these seeded acre numbers lower. Thus far Canadian dry bean acres are estimated to be up modestly 0.3% to 354,000 acres and the US is estimated up 9% to 1.31M acres. Surveys were conducted prior to plant so the real planted acres will be known later. It’s expected that we’ll see some short-term seasonal choppy trade. Barring a North American crop failure on the east side of the continent, long-term outlook should support sideways trade values.

Chickpea markets continue to run sideways this week. StatsCan put this year’s seeded acres down 13% from last year, although in such small markets these numbers need to be taken with a grain of salt. Despite lower acres, the industry feels there is a large enough supply of carry over to support export demand in the short term. That’s a big reason we expect to see this market remain quiet for some time. Current spot contracts are trading between 23-24 cents/lb FOB farm depending on location and sizing. New crop contracts are still available between 24-25 cents/lb FOB farm for movement between Sept-Dec and include a full AOG.

Rayglen Market Comments are for informational purposes only. Rayglen Commodities and its agents or employees shall not be liable for any loss or damage suffered by any person as a result of reliance on any of the contents contained within these products, whether such loss or damage arises from negligence or misrepresentation or any act or omission of its agents or employees


Rayglen Market Comments June 27, 2019

StatsCan acreage estimates on flax came out at 9.4% increase, however, the industry feels that number is low. Much of the prairies has seen some moisture over the last couple of weeks, which has helped the crop significantly and positive grower reports are flowing in. Acres in the US have also increased, some reports suggest up to 70%, although we are unsure if this number is accurate. Flax acres in the Black Sea region are reduced and conditions are not looking favorable, but it is too early to write anything off. Flax bids hold strong again this week, but export demand is keeping a lid on Canadian prices. Some buyers will wait until new crop product comes off before making new sales as they wont risk being caught short. You can still catch $14.00/bu or better on old crop flax, while new crop still hovers around $12.00-$12.50 /bu picked up.

StatsCan seeded acre estimates came out this week and it is no shock that all pea acres are up around 20%. The bulk of this increase came from green peas, up 35% and other classes going up 42%. Somewhat surprisingly yellow pea acres were also estimated up over 15%. Moisture levels were lacking, but as of last week, many areas seen some sort of rain event, just in time to turn a good number of crops around. Looking at new crop pricing, yellow peas haven’t moved much from $6.50/bu FOB. India’s buying potential is still up in the air and has buyers reluctant to book a large amount of new crop acres. Green peas are sitting at $8.00/bu FOB and maple peas have potential at $9.50/bu FOB depending on variety and location. If you have yellow peas left in the bin, bids are at $7.00/bu delivered.

In chickpea news, India has been experiencing poor monsoon forecasts, which in turn has spun rumors that their government may review their limit on pea restrictions. This could congruently support chickpea market, but in the deferred months as opposed to nearby as they are sitting on a large stockpile that the Indian government is trickling out in order to control consumer prices today. All things considered the market feels fragile and could potentially open, but for now it continues to be a waiting game. Old Crop prices coming in at $0.23-$0.24/lb FOB farm and new crop at $0.25-$0.26/lb FOB farm with an AOG. Feed chickpeas have little to no support as the feed market has over bought in the last 12 months and need to eat through their supply. Feed bids at $0.12-$0.14/lb FOB farm. Desi chickpeas compete with Australia and if we compare their markets to a Canadian equivalent we would be paying sub $0.20/lb. Their seeding is either wrapping up or complete, so it will be a market to keep an eye on as we get through the summer months

Barley prices have softened a bit his week as moisture alleviates the pressure on feed markets. After widespread and much needed rain, growers have “found” and moved feed wheat, which covers some of the immediate feed need and relieves the urge for barley. The large increase in barley acres is also on the forefront of buyers’ minds, which, paired with timely rain, could produce a large crop. A few things to keep in mind as reports of thin cereal crops, poor hay crops and a projected shortage in US corn production, could keep feed markets on track so a lot of balls are in the air as we wait to see how the all fall.  Prices today are between $5-5.40/bu, and new crop bids are $4.25-4.75/bu with act of God, depending on movement timeline and freight costs.

Soybean market participants are positioning cautiously before Friday’s USDA acreage report. The big story will be US corn and it will thus overshadow soybeans. Given that the survey for Friday’s report was conducted in the first two weeks of June it’s expected that revisions will come in subsequent reports. That said, the trade is expecting a humble decrease in soybean seeded acres to 84M acres from the March 84.6M acres. Local soybean bids are trading in the range of $9.75-$10.00/bu picked up on farm. Stats Canada reported faba acres down 18% from last year to 64,000 acres. This raised a few eyebrows with faba traders who have been anticipating a year over year increase. General consensus is that the faba number contains a large degree of statistical error. New crop #2 faba bean bids continue to hover near $7.50-$8.00/bu delivered. Canadian dry bean seeded acres were increased modestly with white beans carrying the largest year over increase.

Low supplies of oats paired with higher pricing has analysts estimating acres higher than expected. The StatsCan report that came out yesterday had oat acres forecasted at 3.6 million, up from the 3.2 million that was estimated back in April. Although, acres were larger, the Chicago oat futures hadn’t shown any negative effects in pricing as of today. For old crop, we still have buyers looking at $3.75-$4.10/bu delivered on a milling quality and feed oats at $2.50-2.75/bu FOB. New crop values haven’t fluctuated much over the past two weeks; October to December movement is being contracted at $3.30/bu delivered with later movement options available as well.

The Canola market has had a pretty rough past 7 or so days with the July futures coming down from $455/mt range to $441/mt. Most of the trade will be rolling into the November trade month now which does have a $10/mt premium on the July, but still posted similar declines. Current bids work out to $9.50 picked up in the yard in the south east corner of Sask and a similar number as a delivered to plant price in many other areas. Trade issues with a certain country that we will not name right now (rhymes with Try-na) is the leading cause of market weakness whereas reports of less than stellar oilseed crops in western Canada are not causing too much of a stir so far. Fall basis levels are a bit better in some areas as some in the trade are less comfortable with carryout numbers and crop conditions.

All signs continue to point towards strength in the canaryseed market moving forward. StatsCan is reporting acres are down roughly 11%, although with such a small sample size we should expect some variance in there. Acreage news, combined with what is sounding like a below average crop, could see prices rise above the consistent values we have been trading at over the past two years. Current spot contracts are trading at $0.24/lb FOB farm around Saskatchewan for a July movement. New crop contracts continue to sit at $0.23/lb FOB farm for a Sept-Dec movement and full AOG. We always like to hear what your targets are so let us know if you’d like to aim a bit higher than the current market.

The seeded area estimate report came out this week stating that lentils will see a slight increase from 2018. The breakdown is interesting; red acres jumped by 14% over 2018, large green lentils dropped by 19%, small greens dropped by 5% and all other lentils dropped by 25%. The other lentils would include French green, Beluga and Spanish brown lentils.  The reported seed acres numbers as well as the recent rains have caused the prices to slip a little. Old and new crop lentils have lost a cent since this time last week. If the forecasted rain for this weekend materializes expect lentil prices to continue to drop over the next few weeks, especially on reds due to the increased in acres and remaining stock. Large greens may remain more stable due to the decrease in acres and that old crop greens do not hold their grade that well from the previous year. With everything being reported this week some producers are taking advantage of today’s new crop pricing.  

Well, the rain finally made it to most places across the prairies and farmers are sighing a bit of relief. With that we’ve seen our spot feed price slip and slide down to hover around that $6.00 – $6.25/bu FOB farm; still a solid number. So, if you’re holding on to some remaining stock, now might be a good time to look at letting it go before the bottom drops out. Old crop durum is holding steady, around $7.00/bu delivered to plant. However, if you’re looking for FOB farm pricing on durum, it’s best to give your Rayglen agent a call. Milling wheat remains in and around that $6.80/bu delivered to plant with 13.5% protein for August. Looking further ahead, new crop feed wheat pricing is sitting at $5.00 – $5.50/bu FOB farm and durum is holding steady at $7.00/bu. There still isn’t much to get excited about in regard to new crop milling wheat though. We may see that change in the upcoming weeks as the StatsCan report came out and there was a bit of a surprise regarding the wheat. It showed that wheat acres have decreased by 1.1 million with the biggest hit coming to the durum market, due in large part to its lighter demand. Overall, with decreased Canadian acres and our neighbors to the south having their own weather debacles, we may see wheat prices start to inch up over the coming weeks.

 The talk of the town this week has been the rains received over many mustard growing areas. As we all know oilseeds have been struggling due to drought and mustard was no exception. Now we watch and see how this crop does in light of recent, significant rains. New crop bids are at the similar levels as last week; with indications on full crop year yellow mustard slightly up, at 36 cents/lb, we have seen brown trade at 30 cents/lb, oriental (Forge/Vulcan) at 26 cents/lb, and oriental (cutlass) at 25 cents/lb.  Spot yellow mustard remains at a stable 35 cents/lb FOB farm on a #1 quality. Brown seems to hold firm with trades at 30 cents this week. Oriental continues to lag behind grower expectations at 25 cents picked up for Forge/Vulcan variety, while Cutlass carries a 2-cent discount. New crop contracts contain full act of God and are picked up on farm and we are always open to offers for different movement periods.

Rayglen Market Comments are for informational purposes only. Rayglen Commodities and its agents or employees shall not be liable for any loss or damage suffered by any person as a result of reliance on any of the contents contained within these products, whether such loss or damage arises from negligence or misrepresentation or any act or omission of its agents or employees


Rayglen Market Comments – June 19, 2019

Soybean traders are still trying to get a handle on US farmer planting intentions. This will be a driving force behind the soybean market for the near future. A bright spot is bean planting progress in the US has taken quite a jump up to 77% complete, but still behind the average of about 95%. US corn is also still driving most North American commodity markets, which doesn’t come as much of a surprise. Local soybean bids are trading in the range of $10.00/bu picked up on farm. New crop #2 faba bean bids continue to hover near $7.50 – $8.00/bu delivered plant.

Oat markets have been consistently propped up over the last few weeks. We speculate this is a result of drier weather and the uncertainty that follows, as well as tight supply. Reports of noteworthy moisture events have started to roll in this week and likely just in time for many producers. These come as a much-needed reprieve, before it was too late, and crops weren’t able bounce back. Prices on milling oats are as high as $4.05 delivered in to Manitoba. Picked up prices could range between $3.25 to $3.75 FOB depending on where your farm is located. There are still buyers looking for feed oats as well, with prices ranging from $2.50 to $3.00/bu FOB the farm. 

The canola market has run pretty much sideways the past few days, a little up, a little down. Current bids range from $9.50 to $9.85/bu depending on area and basis levels, for those looking to make some sales. The futures seeming to find resistance whenever they push up to the $460/MT mark over the past month. We will see what effect the recent rain through Sask has on crop conditions as we are hearing some ancillary reports that a lot of the unsprouted seeds sitting have popped out after finally receiving a drink from spotty rains. We are not sure if this late emergence will be a widespread phenomenon or not, but time will tell. Soybean markets will continue to influence lots of what we see in the canola market so weather conditions in the US and South America are something to keep an eye on.

Count it, 1, 2, 3 straight weeks of way above average feed wheat prices. These dry conditions and very spotty showers across the prairie provinces are feeding into these bullish figures. So, if you’re sitting on some feed wheat now maybe the time to move it before the ‘forecasted’ rain comes. Expect pricing in that $6.00 – $6.30 FOB farm across the majority of the province, with $6.50 – $6.60 FOB in SW Sask.  On the tail end of last week, we saw a spot surge on durum. Since then prices have quieted down to that $6.50ish FOB to $7.00 del into plant with new crop still clinging to $7.00. On the milling side of wheat, hard red pricing pops in at $6.90ish with a 13.5 pro delivered to plant for August. New crop feed wheat still hovers in that $5.00 – $5.20/bu FOB farm. New crop milling wheat prices remain low. Stay tuned over the upcoming week(s) to see if these prices trend up with global wheat issues; the hot and dry Black Sea, burn up in Australia, the rain in the States as well as our dry weather or in some cases the deluge of rain.

Canaryseed prices continue to trend upwards as much of the key growing areas saw very little rain to start the growing season. This week has brought some major rainfall across the prairies, but we have not seen any indication of this affecting bids. Crop ratings remain low with around 10% being classified as good to excellent and up to 40% classified as poor to very poor. Spot bids have bumped up to $0.24/lb picked up in the yard for a June/July movement. At this point new crop prices are tough to pin point, but we are taking offers in the mid 20’s cents/lb. With that said, putting up offers on old crop above the market likely is a good idea in this upward trending market.

Pricing, for the most part, remains unchanged in all pea crops. We are seeing old crop yellow peas delivered to plant in and around that $6.60 – $7.00/bu with some decent spot pricing in MB at $7.00 FOB. New crop yellow peas are pulling in $6.50 – $6.75 FOB (with the latter for further out movement) with an Act of God.  Old crop green peas are fetching around that $10.50 FOB with new crop sliding in at $8.00 FOB with an Act of God.  The much-maligned maple peas continue to be subpar in their pricing.  Is this the new normal?  Sub $8.75 old crop and new crop in that $9.00 – $9.25/bu.

Chickpeas are on the bottom of the list when it comes to exciting news. The market is unchanged for another week and current environmental and political situations don’t seem to have any effect on their status. Statistics suggest every country except Argentina and India will have significant carry over when coming into the 2019/20 harvest. While we are on track to produce less than typical yield, the global carry over is estimated to be near 1MMTS and annually the demand is 1.5MMTS. That is a fairly tight spread that does not support any spike despite anticipated reduced yield. General advice from the buy side is watch the timing of marketing. No big leaps and bounds, but over $0.25/lb in your pocket for #2 quality should be seriously considered.

Lentil markets are slow but continue to move in bits and pieces with green lentils on the forefront. Current crop medium green lentils are heavily sold, and carry is largely expected to be made up of small green and red lentils. Feel the supply of large greens is getting tight so we may see continued support through to mid-end of July. Small red lentils are still on the fence as we wait for decisive information from India on Canadian trade. Will the tariff go up as our neighbours have? Will the weather and potential lower yield effect the value given the expected carry? Globally, Russia and Kazakhstan are not very reliable for data collection, but they have tended to migrate from chickpeas and green lentils and move toward red lentils. With them as firm producers of red lentils they become a very real threat to Canadian markets. Reds are simple for them to grow and year after year they tend to flip to red acres. While green lentils are a “Made in Canada” price, red lentils are more and more global. India and Turkey should also remain on the radar as major suppliers with lower cost to table price tag. Current Markets small reds @ $0.19/LB delivered and new crop $0.18/lb FOB W/AOG. Current and new crop Richleas @ $0.18/lb FOB farm. Current and new crop large green lentils @ $0.22/lb for #2 or better FOB farm. Feed lentils @ $0.13/lb FOB farm freight sensitive.

Feed barley is flat this week. At this point, it’s a waiting game to see what the province gets for rain in the next few days and then revaluate next week. With that being said the hay crop isn’t looking so good at this point and a first cut is looking grim, let alone a 2nd cut. If the hay supply is short, that will only drive our barley prices up as feedlots will need to substitute to something else. Prices this week are sitting around $4.90-5.40/bu FOB farm depending on area and freight cost. New crop barley is sitting around $4.00-4.75/bu FOB farm with an act of God offers are a great way to catch a high in the market so make sure you are talking to your merchant on posting them.

The flax market remains strong this week, as plenty of buyers are looking for a little more product to fill positions. Recent trades at $15/bu delivered to plant have gone through on #1 quality product for those with nerves of steel that did not dump the last of their flax when the chicken hit the fan with China and canola issues. New crop prices are tradable at $12.25 to $12.50/bu range as a picked up in the yard price and that includes an act of God on the contracted tonnage covering quality and quantity. You have all heard before that at some point old crop price and new crop price need to meet; we don’t know exactly when, but we know that it’s happening. Outside factors beyond our crop conditions that can still affect the flax price include; USA flax crop, dryness in former USSR, trade with China.

Everyone is watching the weather this week, as rain showers continue throughout mustard growing regions. It is still very dry on some crops, while some have gotten much needed rain just recently. We will watch to see how this develops. New crop bids stay generally the same, with indications on full crop year yellow mustard at 35 cents/lb. We had a brown trade at 30 cents/lb, oriental (Forge/Vulcan) at 26 cents/lb, and oriental (cutlass) at 25 cents/lb.  Spot yellow mustard remains at a stable 35 cents/lb FOB farm on a #1 quality. Brown seems to hold firm with trades at 30 cents this week. Oriental continues to lag behind grower expectations at 25 cents picked up for Forge/Vulcan variety, while Cutlass carries a 2-cent discount. Some grower targets have been able to catch a quicker delivery period at above mentioned prices. New crop contracts contain full act of God and are picked up on farm.

Rayglen Market Comments are for informational purposes only. Rayglen Commodities and its agents or employees shall not be liable for any loss or damage suffered by any person as a result of reliance on any of the contents contained within these products, whether such loss or damage arises from negligence or misrepresentation or any act or omission of its agents or employees


Rayglen Market Comments – June 12, 2019

Bullish feed wheat prices continue again this week.  The obvious reason being the lack of precipitation. These dry, warm, windy conditions have propelled prices in which we haven’t seen for quiet some time.  We’ve seen feed pricing in that $6.00 – $6.30/bu FOB farm to $7.25 delivered with the latter close to feedlot alley.  So, if you are looking to part with your feed give us a call and we’ll find you the best price.  Old crop hard red milling wheat is lingering around that $7.00 – $7.05/bu delivered with a 13.5 protein for July/Aug movement. As well, durum seems to have some life with $7.50/bu FOB farm triggering on old crop, while new crop hovers around $7.00.  New crop feed wheat prices range in that $5.00 – $5.20/bu FOB farm. A little less remarkable is the pricing on new crop milling wheat. Should new crop pricing perk up, we’ll be sure to spread the word. Overall, should our dry weather and the States excessive moisture issues continue, ultimately pushing corn acres out, we may see these prices creep up.

Flax markets remain fairly aggressive this week with prices up to $14.50/bu picked up in the yard. However, new crop lags with flax supplies expected to increase in the 2019/20 season. The US flax crop will also be larger, which means Canadian exports headed south will be flat to lower. Chinese demand has fallen off slightly as well. All of this will weigh on flax bids, which is why new crop values have not been increasing. The old crop program is likely close to being filled, and then we will start seeing prices converge to those new crop prices. If the province has some decent rainfall, it is not too late to provide relief for the flax crop, however, Canadian crop conditions are the wild card.

Oat markets are strong for another week. Dry weather seen across much of the Prairies and tight supply seems to be keeping this market propped up. Prices have shifted another gear and continue to trend upwards. On milling quality Oats, there is a possibility to get $4.05 delivered into Manitoba with $3.25-$3.50 FOB farm not an unrealistic in the southeast. Depending on where your farm is, picked up bids will vary, but targets are a great play in this strong market. Feed oats, range from $2.75/bu to $3.00/bu FOB the farm, depending on your location. On new crop milling oats are still indicated at $3.25 to $3.50 /bu delivered for further out movement. Perhaps if we get wide spread showers, we may see these prices drop, but for now this market continues to be a bright spot.

Canola is up a little on Wednesday as it follows a big push by soybeans to start the day. One would think with this dry weather and poor looking canola crops, we would start to show an uptick in the futures price, but at this point we have not seen much reaction. Current canola bids are around the $9.75/bu mark delivered to plant plus or minus a little depending on the basis level. July futures are currently priced at $458/MT. Fall pricing is a little weaker as the basis levels are quite a bit worse for new crop at this juncture, but we are guessing that those should get stronger based on crop conditions. The scattered showers that have moved through the west this week obviously won’t hurt the crop, but how much help they are bringing is yet to be seen. Between drought, late frost and flea beetles the canola crop has faced a lot of issues this year, so we will see how this plays out in coming weeks. 

Saskatchewan pea conditions are showing a lack of rain and, as per Sask Ag, only 49% of the crop was rated good to excellent. The majority of the province is waiting for a rain to roll through, but there have been sections in the eastern prairies that have seen moisture. Yield forecasts aren’t reduced just yet for peas, but the next week or two is crunch time and will depend heavily on rains come through. Looking overseas, India hasn’t removed any of the import barriers for peas, but India does seem to be lacking in moisture as well with the monsoon delayed as per Stat reports. For grain pricing, yellow peas are trading at $7.00/bu delivered and new crop at $6.50/bu FOB. Green peas haven’t fluctuated much since last week and are still trading at $11.50/bu FOB for old crop and $8.00/bu FOB on new crop.

New crop chickpeas contracts had a slight gain this week. Bids on #2 quality come in at $0.26/lb FOB farm with an AOG depending on location. The same cannot be said for old crop as their value drops a penny to $0.24/lb FOB farm. While it feels like there is a scramble in the current market as we wait for rain, it is not affecting the chickpeas markets congruently. Thoughts behind this are; acres did not fall as expected for the coming harvest and we are still seeing ample supply on farm. Year to date exports thus far are 84.8k MTS vs 713.k MTS in 2017, which also supports a stall in the market. It is hard to say what it will take to improve values as we move forward through the crop year, so we sit and wait. Feed values hover at $0.13-0.14/lb FOB farm and desi chickpeas remain a grey area. Desi new crop is a point of conversation on both the buy and sell side, with neither party knowing where to price it. India is a major factor in the Desi market value and we will continue this holding pattern until either the grower decides on a trigger value or the commercial market gets a hit on a sale price.

Soybean traders are trying to get a handle on US farmer planting intentions. Farmers are weighing the soybean return based on potential returns and an ever-shrinking planting window. Uncertainty often drives markets and as such, soybean futures are up 20 cents thus far today. Yesterday’s USDA report provided no change to 2019 production but increased new crop carryout inventories. For now, US corn will drive most North American commodity markets until the June USDA planted acreage report is released near the end of June. Local soybean bids are trading in the range of $10.00/bu picked up on farm. New crop #2 faba bean bids continue to hover near $7.50 – $8.00/bu delivered plant.

Mustard markets are flat again this week. Everyone in the trade is watching closely, as reports of heavy flea beetles and drought cause concerns in oilseeds. Rain hopefully develops later this week as forecast models now indicate some scattered rain for the next few days. New crop bids stay the same, with indications on full crop year yellow mustard at 35 cents/lb, brown 29 cents/lb, oriental (Forge/Vulcan) 26 cents/lb, oriental (cutlass) 25 cents/lb.  Spot yellow mustard remains at a stable 35 cents/lb FOB farm on a #1 quality. Brown mustard holds firm with bids ranging from 28-30 cents and the latter definitely attainable in most cases. Oriental continues to lag behind grower expectations at 25 cents picked up for Forge/Vulcan variety, while Cutlass carries a 2-cent discount. Some grower targets have been able to catch a quicker delivery period at above mentioned prices. New crop contracts contain full act of God and are picked up on farm.

Interesting numbers on lentil exports being reported by Statistics Canada this week. 1.467 million tonnes of lentils have shipped as of April 30, 2019. That is just over a 26% increase from last year. You heard right, a 26% increase on a year where India has a 33% tariff on lentils and Turkey reduces imports. Doesn’t make much sense, or does it? The bigger picture gives us a better idea of what is going on. 2017-18 held our lowest export value in the last 3 years, so seeing increases this year isn’t a total shock. We are still well behind (600,000 MT) the 3-year average. The increase to India may be explained by their higher priced pigeon peas, which means lentils are being used as a cheaper substitute. Another likely scenario is India did not have as good as crop as expected. Finally, although exports to Turkey are down, we have seen other countries picking up import numbers and make up that difference. It seems everyone has been under the assumption that little product has moved but based on these numbers that doesn’t seem to be the case. This year we have seen a lot more competition on the buy side of lentils especially with more line companies getting into the game. This could be the reason why there is the misconception that not much for lentils have moved. The most encouraging news out of these numbers is that India is slowly getting back in the game and other countries have come to the table to purchase. Weather remains the markets biggest concern right now. Western Canada remains dry, India’s monsoons remain delayed and Australia also experiences weather concerns. This may bring stronger pricing, but for now reds trade at 18.5-19c/lb, large greens at 22c/lb with indications of trading higher, medium greens at 15c/lb USD and small greens at 18c/lb for #1 quality FOB farm.

The canaryseed market is showing signs of strength as we continue to see drought in some key growing areas. Exports this crop year are on pace for around 158,000 MT, which would be the highest export totals for Canada since 2014-2015. This combined with current crop ratings at only 11% good compared to 55% last year, shows why we may be seeing some more strength in the coming months. For now, old crop has traded as high as $0.235/lb picked up on farm for quick movement. New crop has bumped slightly to as high as $0.22/lb picked up on farm with an Act of God clause depending on movement preference.

Feed barley is strong this week, riding on coat tails of drought conditions here and dwindling corn acres in the US.  With corn acres significantly down in the states due to flooding, prices creep higher and in turn, support barley markets. Barley acres are up here in Canada, but without rain over the past few weeks, crops are looking grim and are in need of a drink. Barley supply on farm is virtually nothing as last year was also dry, so feed got bought up quickly. There is rain in the forecast for the weekend and we hope to see that come through. A significant wide spread rain event seems to be the main focus of growers. Today prices are around $5-5.25/bu FOB farm, better bids as you go west. New crop is also available around $4.20/bu FOB farm DDC, depending on freight area. If you are looking for the 30bpa act of god clause, you’re likely forfeiting $0.20/bu.

Rayglen Market Comments are for informational purposes only. Rayglen Commodities and its agents or employees shall not be liable for any loss or damage suffered by any person as a result of reliance on any of the contents contained within these products, whether such loss or damage arises from negligence or misrepresentation or any act or omission of its agents or employees


Rayglen Market Comments – June 5, 2019

The prairie provinces are in desperate need of some rain, which may be providing some underlying support for the lentil market. According to the CGC there has been 506,000 tonnes of lentils moved this year to date, compared to last year when only 255,000 tonnes were shipped. The five-year average is 486,000 tonnes. More aggressive bids have popped up the last few weeks and buyers are looking to secure product, particularly medium and large green lentils. Large green lentils have been selling around 21 to 22c/lb FOB on a #2 quality, while medium varieties trade at 19 to 20c/lb (13-14 cents USD).  Small red lentils continue to show support at 18.5c/lb delivered. Although bids are much more attractive than only a few months ago, dry conditions have some growers bullish. New crop red bids hover around 17-17.5 c/lb picked up with an AOG. New crop large green lentils have traded at 22/20c/lb on a #1/#2 quality. Analysts and producers both feel there is an upside to prices on both red and green lentils and if mother nature doesn’t provide us with much needed precipitation, they may be right. Only time will tell.

A good majority of the oats in the province have been seeded and moisture issues are prevalent. As of right now, oat demand is still strong for June – July movement. On milling quality, we have bids up at $4.05/bu delivered in MB, with picked up bids up around $3.50/bu. Bids are stronger in the South East of Saskatchewan due to freight advantages. Feed oats are trading at $2.75/bu FOB with $3.00/bu FOB having a good possibility of trading on offer. Targets are being looked at by buyers if you have supply in the bin that you are looking to move before harvest. For new crop, bids are around $3.30/bu delivered for off the combine movement and $3.50/bu for movement into 2020.

Wheat values continue to see a slight upturn this week as hot and dry weather continues. Milling quality values creeping up showing delivered elevator 13.5% pro at $7-$7.05/bu. Durum is almost par at $7/bu for old and new crop. June-July feed values have also taken a turn for the better as cattle farmers continue to hold off selling their stock and the demand for feed supply increases. Traded feed values range from $7-$7.25/bu delivered facility in Canada ($6.00-$6.30/bu FOB) and USD $5/bu FOB farm for some areas of the USA. New crop has not seen such fortune yet with prices holding steady at $5/bu FOB the farm. It feels like these markets will continue to escalate if the better part of SK doesn’t see rain but would expect a sharp change if we do.

Mustard markets continue down the unchanged path for another week. Producer concerns over the lack of moisture haven’t yet translated into buyer concern. Spot yellow mustard remains at a stable 34-35 cents/lb FOB farm basis #1 quality. Brown mustard holds firm with bids ranging from 28-30 cents and the latter definitely attainable in most cases. Oriental continues to lag behind grower expectations at 25 cents picked up for Forge/ Vulcan variety, while Cutlass carries a 2-cent discount. New crop bids are unchanged, with indications on full crop year (Sep’19-Jul’20) as follows: yellow 35cents/lb, brown 29cents/lb, oriental (Forge/Vulcan) 26cents/lb, oriental (cutlass) 25cents/lb. Some grower targets have proven to catch a quicker delivery period at above mentioned prices. New crop contracts contain full act of God and are picked up on farm.

Canaryseed markets are unchanged again this week. Demand from local buyers remains steady, but we haven’t seen any major push to purchase. This comes as somewhat of a surprise as we experience drought conditions throughout the majority of the canary seeded area. We may see demand increase if dryness continues and there is a scare of smaller production this fall. On the other side of the equation is carry out. Stocks never seem to be as low as reported, so this may be the reason we aren’t seeing a spike in value at this time. Should prices take a jump, it will be interesting to see what kind of volume comes out of the unreported bins. Prices this week are around 23c/lb FOB farm, but an offer may trade at 23.5 cents. New crop bids are also still floating around 21c/lb FOB farm, with an act of God.

Canola futures were traded almost $3/tonne less today, finishing at $450.20/MT for July. The prospect for much needed rain later this week has weighed somewhat on the futures. Western Canada planting is near completion and the lack of moisture has hindered germination and growth as we hear of some areas re-seeding. If the expected rain later this week disappoints, then we could potentially see the canola futures have an uptrend. The market is still on pause for now. The Canada-China dispute along with unsold old crop, still has pressure on the canola market. The support to Canadian canola from May was mostly spillover business in to the US markets. However, if the US soybean markets trend higher, it will be difficult to continue to break into that canola market.

The flax market remains strong this week with many buyers bellying up to the bar to get in to the action. Firm targets as high as $15/bu picked up in the yard have triggered on #1 brown this past week for those lucky enough to have held through the winter and spring. Many thought the issues with China on canola would bleed into the flax market as well, but thus far flax has skirted these pitfalls. One would surmise that the primary reason for this is simply due to low stocks. New crop prices have not run up like the current crop values at this juncture and are maintaining the $12 to $12.25/bu range FOB farm with AOG that they have been floating around for a while. Oddly, at a discount to the current crop brown flax price, yellow flax is trading at $14/bu this week as a picked up in the yard deal for those still holding. New crop opportunities are at similar levels including an act of God.

Yellow peas are stable for another week as prices remain in the $6.50-$6.80 picked up on farm range.  Green peas are a little quieter, with buyers not interested in chasing bin bottoms. Maple peas are in much of the same boat for old crop product. We did, however, have a buyer ask about new crop maples over the past week, especially the mosaic variety. The buyer is willing to look at grower offers at this time. The strength in yellows is due to the fact there is still some left in the bin, and everyone is looking for something to process. Weather will be the next factor to drive these prices so will wait to see if the rain comes.

Soybean futures ran out of steam today after achieving recent highs on Tuesday. The market is grappling with the impact of corn acres either switching to soybeans or tending to prevent plant. China trade rumors still swirl about the market, but ultimately have as much substance as any previous rumor. Local soybean bids are trading in the range of $10.00/bu picked up on farm. New crop #2 faba bean bids continue to hover near $7.50 – $8.00/bu delivered. Canadian dry bean planting is largely wrapped up and market prices converted to CAD dollars remain supportive.

Feed barley continues to be one of few standouts when it comes to grain pricing this year. Old crop prices are currently being supported by low on-farm stocks, dry weather, and U.S. corn planting struggles. Bids in Saskatchewan have been anywhere between $5.00-$5.30/bu picked up on farm for a June/July movement. Bids are stronger the further west you are located. We do expect to see a decrease in price as we get closer to August and the new crop becomes available. Currently, new crop bids are between $3.75-$4.00/bu picked up on farm depending on your location and preference of movement. On the malt side of things, firm bids for both old and new crop have been scarce, but buyers have been willing to look at firm offers, so if you have a number in mind give us a call.

Kabuli chickpea prices are still trending flat this past week. Again, with the Election in India complete, it’s up in the air if anything changes regarding imports and tariffs. So, with nobody holding out much hope for a quick change on that front, we look at supply. It is looking like crops around the world are smaller by fairly tiny margins, but the chickpea market is quiet due to the carryover from last year. Supplies will be ample worldwide again even though total acreage has dipped here in Canada. The wildcard in all this, is rain. It is looking dry in many areas of Saskatchewan and Alberta right now. It is yet to be seen how this plays out as it’s still early in June. We have seen prices in the 23 to 25c /lb range for average of sizes, based on a #2 quality. New crop sits around that 23c mark with an act of God. Call the office with offers…as it may be time to look at options for new crop.

Rayglen Market Comments are for informational purposes only. Rayglen Commodities and its agents or employees shall not be liable for any loss or damage suffered by any person as a result of reliance on any of the contents contained within these products, whether such loss or damage arises from negligence or misrepresentation or any act or omission of its agents or employees


Rayglen Market Comments – May 29, 2019

Feed barley is a shining light again this week. Strong prices have been maintained by the dry weather and minimal carryover. This combination has the feedlots calling for product, which is reflected in the price. Expect to see bids in that range of $4.60 – $5.20/bu FOB farm, with the latter in select locations, for that June/July movement. However, if it ever decides to rain, these old crop prices will disappear in a hurry with the rejuvenation to the pasture land and new crop around the corner. New crop feed barley comes in around that $3.75 – $4.00/bu FOB farm with the possibility of an act of God in some cases.  On the other hand, old crop and new crop malt barley prices have been difficult to locate.  Putting out an offer may be the best way to go.

With seeding mostly wrapped up in Saskatchewan, many are waiting for a rain. Soil moisture is lacking in quite a few areas, which has some expecting a slight uptick in lentil pricing. However, lentil carryover may keep this uptick at bay. India had shown a bit of optimism late last week, as per Stat reports, which brought up more export business. With this we saw an increase in old crop lentil pricing. Red lentil targets were hitting at 18.50-19 cents FOB, large green lentils were trading at 22 cents FOB on a #2 and small greens edged up to 18 cents delivered on a #1 quality. New crop is slowly getting started with producers looking to lock in a price with an act of God. Red lentils bids remain at 17 cents FOB, large greens at 20 cents FOB and small greens trade at 17/16 FOB on a #1/#2 quality

Oats continue to hang in there as one of the most unchanged and strongest priced commodities. Bids hold firm as buyers look to purchase the remaining product in the bin. Feed bids continue to bounce around $2.75- $3.00 per bushel FOB farm on decent quality 40lb oats for quick movement. Milling oats have been trading around $3.65/bu delivered or $3.25 FOB in select locations. It all depends on freight costs, but with the stronger sentiment, we feel some buyers may be willing to stretch those numbers. The closer you are to the Manitoba border the better. New crop oats still hover around $3.00/bu delivered to plant.

Canola has been rising on the futures markets these past few days. This has been a nice change as of late as we see canola around $457MT for July at time of writing today. There are serious concerns on a very wet Midwest US and that has been propping up grain and oilseeds markets in the last few trading sessions. It’s becoming apparent that a lot of short positions are being closed and fund traders have been buying the market up. US plantings are also far behind the 5-year average as of this week. This news has been taking over the Chinese import issues that Canada is having, for this week anyway.  We are starting again to see bids around that $10-dollar mark delivered.

While desi chickpea prices are trending higher in India, kabuli prices are still sitting sideways. This suggests India’s desi supply is not as plentiful as estimated. With the Indian election complete, what changes, if any, will there be to the tariffs imposed by the Indian government? Indian prices have risen from their record lows and have just about breached the specified minimum support price. Chickpeas are India’s largest pulse crop followed by their pigeon pea crop. This upward movement in prices, could hopefully lift other pulse prices as well. The trade has slowly built up inventory in anticipation of moving some of that product. Indian monsoons are reported to be normal to below normal, however that season runs until September, so reports could change. Indian acres look ambitious right now, but considering weather risks and grower fatigue, the government may have to look at tariff restrictions once the kharif harvest begins in September and October. The sideways pricing on Canadian chickpeas is due to our carry-over, so the large supplies could limit prices well into the 2019/20 season.

Soybean market is up again today fueled by concerns over mid-west wet weather and the resulting delays. Soybean planting is running at a record slow pace of 29% complete. The 3 critical “I” states are reporting some of the lowest and slowest planting progress. Fundamentals and trade issues still remain but, are taking a backseat at this point. Local soybean bids are trading in the range of $10.00/bu picked up on farm. New crop #2 faba bean bids continue to hover near $7.50/bu delivered. Canadian dry bean planting is on the home stretch for many across the Prairies this week.

Feed wheat prices have smartened up a little this week, with growers able to catch a $6/bu in most areas of the province on firm target. Some areas with freight advantages should be able to tag a bit of a higher number, picked up on farm. Milling hard red wheat prices have swung up a bit, with delivered elevator bids on #1 13.5% pro back in to the high $6’s range. Not great but showing signs of life at least. Durum numbers have pushed up slightly too. Fall bids are back to $7/bu or better delivered in for #1, 13.5% Pro to various locations around the province. Fall prices for milling wheat are a bit weaker than the summer prices and not really worth noting at this juncture. Feed prices for the fall are hovering around $5/bu picked up in many areas, so if you have interest we can get a bid tailored to your farm.

Mustard remains flat once again this week. With seeding wrapped up for most of the key mustard growing areas, we now hope for rain. Dry conditions are scattered throughout the province, and if we don’t see any moisture within the next couple of weeks, you may see prices move up for both new and old crop. But for now, reports are still showing prices staying steady for yellow, oriental and brown. Keep in mind targets may provide a couple cent increase on all varieties. Spot bids are as follows: 35c/lb on yellow, 29-30c/lb on brown, forge/vulcan variety oriental at 26c/lb, and cutlass variety at 23.5c/lb. New crop bids are still being shown by buyers, with the most attractive bids being posted for the full crop year movement. 35c/lb on yellow, 29/lb on brown, and 26c/lb on oriental depending on variety are quoted bids FOB farm with act of God. If you are looking for a quicker movement, please call your merchant.

After seeing a build up of canaryseed stocks at the Thunder Bay terminals recently, confirmation has been received that vessels will soon be moving over to Europe, bumping up our export totals for the year. This round of buying took place quietly with relatively no affect on our local prices. This tells us that stocks on farm are more comfortable than the last Stats Canada estimate showed and that prices should stay flat moving forward, barring no major weather concerns this growing season. Current bids for sound quality canaryseed are around 22.5-23.5 cents/lb picked up on farm for June/July movement.

Year to date flax exports are around 273,000MTS which is low compared to last year of 325,000MTS during the same period. With a major US crusher backing off the market, there has been a downward trend in US values, while Canadian bids climb where supply is “tight”. On the opposite side of those points, according to reported acres and yield for the 2018/2019 crop, it is still expected that exports by the end of the crop year should hit the 5-year average of 396,000MTS, which means there is potential for a lot of activity left in the coming weeks before harvest. Bids for old crop still coming in at the $14-$14.25/bu FOB farm with new crop bids at $12/bu FOB farm with an AOG. Offers are trading slightly higher. In addition, we have been seeing a demand for organic flax on both old and new crop. Seeing some action this week in yellow peas as prices reach $7.00/bu delivered plant for old cop and a couple of buyers also showing interest in new crop yellow peas at 6.50 FOB farm. India seems to have curiosity in Canadian peas as the local Indian chickpea price has been increasing. Yellow pea prices will remain a topic of interest as ending stocks are projected to be lower than earlier perceived. Also on some minds are weather concerns, not only in Canada, but also in India and what direction the Indian Government will further take on outside agriculture trade. Green peas seem quiet at the moment, but the weather will also play a major role in where future prices end up, as our carry out will be well below the five-year average and if yields are sub average expect prices to improve. Spot bids are tough to find this week, but indications pop up at $10-$11/bu. Old crop remains indicated at $8.00/bu range FOB farm with AOG. 

Rayglen Market Comments are for informational purposes only. Rayglen Commodities and its agents or employees shall not be liable for any loss or damage suffered by any person as a result of reliance on any of the contents contained within these products, whether such loss or damage arises from negligence or misrepresentation or any act or omission of its agents or employees


Rayglen Market Comments – May 22, 2019

Spot flax prices are still holding this week, despite new crop values indicating lower. You can still move some old crop in the $14.00-$14.25/bu FOB range, while new crop is suggesting $12.00/bu picked up. Larger volumes of flax have been moving out of Thunder Bay and Vancouver terminals. With the larger flax crop expected for 2019/20, we can expect a weight on the Canadian market. There has been no updated information regarding the Kazakhstan export data, but supplies have been steadily coming out of Russia and Ukraine. Chinese prices have lost $35 per tonne since the beginning of the month and the US crushers lost another $0.15 per bushel. So, while Canadian prices are up, we can only conclude that these high spot prices are temporary.

Dryness in many areas is keeping demand on feed barley strong. Until we see rain throughout the province, we suspect to see this market remain steady.  With very little carryover, feedlots will be using a lot more product than expected. This is, unless a rain comes along and gets pasture land back in order. The corn futures are also green this week, which helps support our barley prices. June movement barley is around $4.60-4.90/bu FOB farm and new crop sits around$3.85/bu FOB farm with an act of god in some cases, up to 45bu/acre. New crop malt values are hard to find, so an offer would be the best way to potentially get something on the books.

Seeding is progressing well, with many areas already wrapped up. This hasn’t provided any support to the pea market, with little to no change from last week’s values. Overseas markets remained unchanged as well and we wait patiently for India’s election to wrap up tomorrow (Thursday May 22nd). This could influence the Canadian pulse market, but it is generally expected to remain unchanged. Prices are sitting stable with there being a little light in the yellow pea market. Current pricing is at $7.00/bu delivered and new crop at $6.00/bu FOB. Green and maple peas seem to be past their highs of the year. Today potential bids sit in the $12.00/bu delivered on green peas and $9.00/bu on maple peas. We have a program for Shamrock variety green peas specifically, for both old and new crop, speak with your merchant on these programs. Onto new crop, green peas trade at $8.00/bu FOB and maples at $9.00/bu FOB with an Act of God.

Dry seeding conditions throughout the prairies coupled with reports of freezing temperatures overnight have some growers concerned about their canola crop. Some areas last weekend experienced a good freeze and we do have reports of damage to the early emerged crop, which is backed up as per StatsCan reports. Soybeans have provided a little support for canola earlier this week and this morning canola was slightly up, trading less than $1.00/mt higher. The canola market is still looking to the Canadian government for a solution on the Chinese trade issues which cannot be expected to be a quick fix. We are going to be experiencing an oversupply of canola this upcoming marketing year, which is also weighing on the market.

Clear across the board we are seeing parity in the feed oat market. Old crop pricing (min 40lbs, 14% moisture) is fetching $2.75/bu FOB farm for June – July movement in Saskatchewan.  Look to see the odd hotspot spike in that $2.80/bu picked up, again, around that Moose Jaw area. Milling oats are fetching a premium and expect to see prices up to $3.65/bu delivered and $3.25/bu and up for FOB farm depending on location. For spot on location specific pricing call your Rayglen agent. New crop pricing continues to hover around $3.00 – $3.15/bu delivered to plant.

There hasn’t been much fluctuation in the canaryseed market as far as pricing goes. Bids remain range bound between 22.5 to 23c/lb FOB the farm. New crop has been trading around 20c/lb picked up with an act a God; slight chance for an extra penny on firm offer. Weather challenges throughout the prairies are currently not providing support to the market. As of right now, it seems the only way canaryseed values will rise is if we see yields from this crop year significantly drop. According to StatsCan’s numbers, there is only 26,000 tonnes remaining in Canada, but that number seems far off, with many analysts estimating closer to 100,000 tonnes as of March. We don’t suspect that 75,000MT has been shipping in 2 months.

Chickpea markets remain stable and steady. Weather has cooperated in large parts of main growing areas, which is great for conditions, but not so great for prices. The Indian election results are due in tomorrow and there is still a glimmer of hope that this could ignite the India/Canada trade and have a positive effect on the coming crop values. Old crop values come in $0.22-$0.25/lb range depending on location or delivery and new crop values come in at $0.23-0.24/lb FOB farm with an AOG. Requests for low quality or feed chickpeas come in every week but values remain in that $0.11-0.14/lb range which has not motivated any sales.  

The May long weekend was kind to lentil markets as prices have jumped a cent or more since this time last week. Large green lentils are leading the charge, with old crop trading at $0.23/lb for X2 and $0.21-$0.22/lb trading for a #2 product. This latest increase is due to India covering a short in the pigeon pea market. There is still not much information in how much coverage is needed, so this maybe a short-lived spike. This market run may also be limited due to amount of supply left in Canada. Depending on what is left in the bin to market, taking advantage of a rising market is a strong play especially at this time of year when markets are usually softer. If you’re thinking of selling, this is likely as good a time as any. Especially if you are looking for movement before August as buyers are already buying June/July.  This is always a tough time of year to market; how is weather going to affect price, will the market just wait for new crop, and will product ship before harvest? Questions like this are on everyone’s mind.  Listing your priorities for a sale is likely the best tool in selling your grain. Does price outweigh movement, or vice versa? These are things you can communicate to buyers via firm offers. Marketing on weather should be the last factor as this something none of us can predict or control.

Some small milling spring wheat opportunities continue to hang around on old crop with bids between $6.60-$6.80/bu delivered into plant available in central Saskatchewan. These bids are for June/July movement and based on a #1 grade with minimum 13.5% protein. New crop milling wheat prices continue to be available around $6/bu delivered into plant for most areas. Incredibly solid feed wheat prices are still available from multiple buyers and we are seeing firm bids from $5.60/bu to as high as $6/bu picked up in select locations. New crop feed wheat values are closer to $4.50/bu picked up on farm, so if you do have some wheat in the bins, you may want to get that contracted before the slide towards new crop begins.

Soybean market is up a little today as traders wrestle with just how much US acreage will get planted and with what commodity. Nearby US weather forecasts remain wet, while news out of Washington suggests a Farmer Aid payment of $2/bu for soybeans could sway planting decisions. Local soybean bids are trading in the range of $9.25/bu picked up on farm. Old crop #2 faba bids remain well supported for good quality whereas new crop #2 bids hover near $7.50/bu delivered. Dry bean trading activity is ordinary and seasonally slow. US dry bean planting progress ranges from 2% complete in Minnesota to as high as 54% complete in Idaho. Canadian dry bean planting across the Prairies is in full swing this week.

The mustard market remains flat this week. Buyers indicate overseas demand is the same as it has been the past few months and nothing new to report. In talking to many mustard growers, seeding has already wrapped up in southern Saskatchewan and Alberta, and the hope for rain now begins.  For new crop, full crop year movement contracts are available at $0.35/lb on yellow, $0.28/lb on brown, and $0.25-$0.26/lb on oriental depending on variety. If you have brown acres, let us know, as some December movement contracts have triggered this week at $0.28 again. Spot contracts are still available picked up on your farm at $0.35/lb on yellow, $0.30/lb on brown, and $0.22 to $0.23/lb on oriental based on #1 grades.  

Rayglen Market Comments are for informational purposes only. Rayglen Commodities and its agents or employees shall not be liable for any loss or damage suffered by any person as a result of reliance on any of the contents contained within these products, whether such loss or damage arises from negligence or misrepresentation or any act or omission of its agents or employees


Rayglen Market Comments – May 15, 2019

We have seen some small opportunities come up in the milling spring wheat market. Bids are available delivered into select locations between $6.50-$6.70/bu for Jun/July movement. This is based on #1 CWRS grading and minimum 13.5% protein. New crop milling wheat prices have been hovering closer to the $6/bu mark delivered into plants around the provinces. Feed wheat prices have remained strong through the past week with prices ranging from $5.50-$5.90/bu picked up in the yard. Most of the wheat seems to be heading west so your strongest prices will be on the west side of Saskatchewan and into Alberta.
Flax prices are much the same this week, which is a good thing, as we are still seeing $14.00/bu picked up on old crop and hearing rumors of higher bids available (this is where firm grower offers come into play). New crop still trades up to $12.50/bu picked up with an act of God. Inventories at terminals have been increasing with more to come in. The US market remains soft which puts a halt on Canadian flax moving south for the time being. With the increase of flax acres in both the US and Canada, signing some up is worth some thought, as it should turn the market lower as long as growing conditions remain normal. The old crop bids will run out of steam once the upcoming sales are filled. There are also markets for yellow and off-grade flax available. Bids vary on location and quality.
Green lentils of all varieties seem to be getting a little more love this week. We have seen Richleas out of the US trade for 13 cents USD FOB farm, Canadian #2 large greens up to 20 cents and Estons as high as 17 cents FOB farm. It has been a few weeks since we’ve have had buyers this interested in purchasing green lentils. Now, obviously, prices have seen a slight increase, but nothing earth shattering, and we suspect its due to rumors that India’s pigeon pea crop may not be as good or as large as earlier perceived. Still uncertain if this a speculation buy or if actual trades are taking place. If this is speculation, price will likely disappear again as buyers wait to trade their bought product. If there is a real shortage, price may get stronger but won’t go crazy as the trade knows new crop is right around the corner. Taking any advantage of any market spike is likely not a bad idea as prices still have a lot of uncertainty in front of them and quality will become an issue once new crop comes off in the fall.
Special crops have heated up a little this week, but unfortunately it is not being reflected in chickpea markets, as one would have liked. Old crop values remain at $0.22-$0.25/lb range depending on location or delivery and new crop values come in at $0.23-0.24/lb FOB farm with an AOG. It is hard to say when this market will see some significant traction as acre intentions did not reduce as heavily as initially estimated (expected decrease of 24% in March from early reports of 58% in Jan). If weather continues to be dry it could support values, but it is hard to ignore the supply that will be available come harvest. Feed values also remain steady ranging from $0.11-$0.14/lb location dependent. Desi chickpeas are on the radar, but another week goes by where the commercial market is not ready to put a value on new crop acres. If production contracts are a part of your plan, give us a call to discuss targets.
Not much to report on the mustard front. Exports remain steady to slightly stronger, but that has not transferred to increased pricing. Its apparent that stocks are ample, and prices are staying relatively flat for now. Seeding looks to be progressing normally compared to the 5-year average. Spot contracts are available picked up on your farm at $0.35/lb on yellow, $0.30/lb on brown, and $0.22/lb on oriental based on #1 grades. For new crop, full crop year movement contracts are available at $0.35/lb on yellow, $0.28/lb on brown, and $0.25-$0.26/lb on oriental depending on variety. If you have brown acres, let us know as some December movement contracts have triggered this week at $0.28. If you do run into issues or are looking for some last-minute seed, give us a call and we will try to help you get some certified seed. We might be able to make something work.
Seeding is progressing well with favorable weather conditions for most producers; we can estimate at least 50% of the pea crop is now in the ground. With seeding moving along, we are in the seasonal low of pea pricing. The future is providing a lot of uncertainty with both Chinese and Indian markets unstable. There is the expectation that China’s imports will be reduced, but hopefully offset by India coming back to the market (yet to be seen). Current pricing on yellow peas is sitting stronger than expected considering the uncertainty, with bids at $6.80/bu delivered. As for green peas and maples we continue to follow the seasonal lull. Top green pea bids come in at $12.00/bu delivered and maple peas at $9.00/bu FOB. New crop pricing hasn’t seen any change since last week, yellows are at $6.00/bu FOB, green peas at $8.00/bu FOB and maple peas at $9.00/bu FOB.
Starting to see feed barley trend backwards, with only a few buyers still
kicking around at last week’s prices. With the large acreage increase this
year, the demand for old crop feed barley from feedlots is starting to dwindle as new crop will be off in a few months. Corn prices are down this week as well, providing a cheaper alternative again. New crop barley is around $3.60/bu FOB farm for movement by end of December, and with an act of god. New crop malt bids are getting hard to find but, posting an offer may attract a buyer to take it. Old crop bids are between $4.20-4.65/bu FOB farm, with the exception that the further west you go bids get better. Movement is posted as May-June, and after that bids drop off again, so this might a good time to move product if you need the bin space for this year’s crop.
We’ve seen some renewed interest in the oat market today and over the past week. Buyers are still looking for product and willing to pay a premium to get it. If you’re a producer with some milling oats in Manitoba, South Eastern Saskatchewan or the northern states you’re likely looking at $3.25/bu picked up and in some cases higher. Of course, bids are based on location so give your Rayglen agent a call. On the feed side of things, we’ve seen some nice spot pricing pop up in that Moose Jaw area at $2.80/bu FOB farm. Other areas in Sask may capture similar values and offers are likely the best route to hit that high. For those in less desirable freight areas, look to see the feed prices hover in that $2.25 – $2.50/bu picked up. New crop pricing remains steady at $3 – $3.15/bu milling quality delivered to plant.
Canola markets leveled off Wednesday after a strong push up Tuesday riding on the strength of soybeans. We would love to say that the canola market was bolstered of its own accord, but other than drier conditions lingering around the province, with some reprieve today in that respect, there is no real bullish news to push prices. Basis levels from company to company seem to have the largest effect on price these days, with talk of 10 under to 55 under depending on movement window. Best to look around on options to make sure you are capturing the best opportunity on the day when you move to sell. As always keep an eye on market rallies, like Tuesday/Wednesday morning, as this is the best chance to move something as summer comes up.
Things seem to be moving smoothly regarding canaryseed planting. Recent reports show that as of early last week, 12% of the canary in Saskatchewan has been planted. This compared to the 5-year average of 9%. The only down side is that most across the prairies are looking to the skies for some moisture to fall with little to no avail to bolster crop prospects. The low moisture levels are being exasperated with these warm, dry, windy days. This is especially the case for those in west central SK. Pricing seems to be holding steady this last bit. Look to see old crop prices around 22-23 c/lb FOB farm with new crop prices remaining at 20 c/lb FOB farm with an act of God.
Despite rocky relationships between US and China and some of the lowest board values in months, we might see an increase in Soybean acres. Why? Wet conditions and a slow start in the US, when considering length of the growing cycles, have producers inclined to reduce corn acres and therefore increase soybean acres. Domestic soybean bids continue at the $9.00-$9.50/bu FOB farm for both old and new crop. Faba beans are being held up by the Egyptian and US markets again this month with some support from the Middle East. Thus far, year to date exports are 27,500MTS vs 20,900MTS last year. While Canada has become a more established supplier of the faba bean market, it is expected that production will increase globally in turn keeping our Canadian markets relatively flat. Old crop #2 faba bids are steady at $11/bu FOB farm for #2 CGC quality and new crop remains at $7.50/bu FOB farm with an AOG. Keep in mind, there have been unreported trades at higher levels based on targets.

Rayglen Market Comments are for informational purposes only. Rayglen Commodities and its agents or employees shall not be liable for any loss or damage suffered by any person as a result of reliance on any of the contents contained within these products, whether such loss or damage arises from negligence or misrepresentation or any act or omission of its agents or employees.

Rayglen Market Comments – May 8, 2019

The canola market has seen two consecutive days of price recovery after a weak Monday following losses in the soybean market. This is not to say canola prices are good, because they are not, but at least they are a bit better than they looked Monday. Analysts are not expecting this strength in the market to push for too long, but more so a reactionary bounce coupled with a few smaller circumstances, like the Japanese market re-opening after a holiday. Many bids out there are in the $9/bu range, but we have heard reports of higher bids popping in and out as buyers look to cover off orders. Keep your ears open for these small selling opportunities if you’re still holding product in the bin.

If you have ever watched paint dry or grass grow, then you have a good comparison to the current activity in chickpea markets. Old and new crop pricing, sizing differences and pet food values are amongst the topics we question our buyers on and the responses have been lackluster at best. Talk of how pet food supply has been hot the last two years continues to be a glimmer of light but in reality, we hear those markets did not develop as quickly as projected and the buyers are currently over bought. While it is still a viable outlet for lower quality product, it isn’t as exciting as it previously has been. Desi chickpeas are currently going in the ground and yet again, no one knows where to value a fall contract. Growers are looking for $0.23-0.25/lb off the farm and buyers say, “It’s too early to know”. This is the perfect scenario for showing an offer at a level that is workable for the farm. Let the buy side know where they need to be and then work it. Best advice today on chickpeas in general…get out your pencil, figure out what makes it work and put that number out there. Current bids on large kabuli chickpeas remain in the $0.23-$0.24/lb range.

The Chinese market is still a popular topic for Canadian peas, as similar issues in the canola market are now posing barriers to peas. Not only that, but throughout the 2018 marketing year, China was importing Canadian peas for pig feed rations. These feed purchases have since stopped, not only because China and the US trying to setup a trade deal, but also because of the swine fever that swept through China’s hog barns killing over 200 million. Despite our pea markets being negatively affected by both India and now China, we did see a price change in yellow peas this week. We have opportunity to trade some volume at $6.75-6.80/bu delivered. Otherwise, prices remained unchanged from last week. Green peas and maple peas, which were once a hot market, have now fallen back in pricing with new crop coming around the corner. Green peas are indicated at $11.50/bu and maple peas at $9.00/bu picked up – that is if you can find a firm bidder. New crop values are $6.00/bu for yellows, $8.00/bu for greens and $9.00/bu for maple peas.

The canaryseed market hasn’t produced any strength over the past few weeks, which leads us to a couple scenarios; 1. stocks are higher than reported (which always seems to be the case) and 2. demand has slowed. Recently, Mexico and Indonesia, two purchasers who have been significant buyers in recent years, have decelerated imports leaving markets stagnant. It seems for canary prices to rise near term, we will have to see some kind of weather issue, here or elsewhere, limiting supply. This, or a drop in seeded acres, which isn’t projected to be the case, may give this market the steam it’s looking for. Prices on new crop canaryseed have been trading between 20 to 21 c/lb FOB the farm with an AOG, while old crop remains in the 22c/lb FOB farm range. Growers may catch slight bumps throughout the summer when buyers need to purchase product, so it is important to keep in touch with your merchant.

Well, another week has come and gone with little change to the oat market. We continue to see pockets of strong prices for milling oats ($3.40/bu delivered) popping up in select locations. These opportunities seem to be short lived and growers should consider making sales on these small rallies to maximize return. On the feed side, the markets are pulling back and slowing down as demand has decreased due to most of the animals feeding on grass now. Expect to see feed pricing in that $2.25 – $2.50/bu picked up on the farm. There are some new crop oat bids floating in at $3/bu and up delivered to plant on milling quality. If you have a target in mind give us a call at 1-800-Ray-Glen (729-4536) and we’d be happy to show it to our buyers.

Flax prices have trended up this week, with $14.00/bu FOB farm trading. New crop prices are slightly lower and tougher to find after recent trade last week and early this week. $12.00/bu picked up with an AOG is the indication in certain areas. The bump in spot bids could be to fill some upcoming sales and the US market is weaker, which has provided some price support for Canada. However, the lull in US flax crushing will put a hold on Canadian imports. Weather permitting, with a larger 2019 Canadian and US flax crop going in, it will only be a matter of time before old crop prices start to line up with the lower new crop values. Chinese demand is slipping, and Russia can likely be accountable on sending sizeable supplies. If you have any off-grade flax or yellow flax in the bins, we have markets available as well, but opportunities are hit and miss.

Soybean market is in grips of the US/China trade talks, just as other North American commodities are. Talks are scheduled for Thurs/Fri in Washington; however, prospects of a deal look shaky after the U.S. threatened new tariffs in response to the Chinese retreating on some of its earlier promises, allegedly. It’s anticipated that the USDA will raise its forecast of ‘18 inventory in Friday’s report due to exports tanking in the absence of a trade deal with China. Local soybean bids are trading in the range of $9.00/bu picked up on farm. Canadian new crop faba acres will increase significantly predicated on lofty old crop bids. Old crop #2 faba bids remain supported near $11/bu FOB farm for good quality whereas new crop #2 bids hover near $7.50/bu FOB farm. North American dry bean export trade isn’t setting any records; however, specialty bean classes continue to show good opportunity.

Over the past week we have seen some renewed interest in red lentils. Does this mean things are opening up in India or is it simply that companies are looking to get business on the books and have grain moving through the plant? Likely the latter, but no matter the reason, the real takeaway here is there has been participation in the market with slight increases in value and producers should take advantage of these bumps. Red lentils seem to be in a bit of tug of war lately; on one side we wonder if the oversupply in Canada will keep prices from rising and the other questions India’s crop condition and whether it is in worse shape than is being discussed. There is also the uncertainty on the outcome of the India election and how it will effect tariffs. In today’s markets, with so much uncertainty, it makes it hard for everyone in the industry to make commitments on marketing their product. Here are the trade numbers from the last week: 19 cents delivered on reds, 20 cents delivered Large greens, 18 cents delivered small greens and US richleas have trade at 13 cents picked up.

Milling spring wheat prices have stumbled a bit this week, as bids into elevators around the prairies continue to soften. Spot bids are sitting in the $6.25-$6.50/bu range delivered into plant, while new crop bids are closer to $6/bu delivered in. These prices are based on #1 grades with a minimum 13.5% protein. Milling durum bids for movement in the new crop year have popped up in the south east at aggressive values so if that sounds like it may be of interest to you be sure to give us a call. Feed wheat prices have continued to be strong as we have seen little change this week. Bids range from $5.40-$5.80/bu picked up on farm with the best prices being closer to Alberta feedlots.

Mustard markets remain relatively stable this week with oriental mustard the only type that has taken a hit. We have yet to hear any reports of areas needing to reseed after the cold spell over the past couple weeks, despite speculation that there may be a few problem locations. Spot contracts are available picked up on your farm at $0.35/lb on yellow, $0.30/lb on brown, and $0.22/lb on oriental based on #1 grades. On the new crop side of things, full crop year movement contracts are available at $0.35/lb on yellow, $0.28/lb on brown, and $0.25-$0.26/lb on oriental depending on variety. If you do run into issues or are looking for some last-minute seed, give us a call and we will try to help you get some certified seed in the drill.

Nothing major really stands out in barley markets this week. Buyers are still looking for product, but not over paying as they know new crop is only a few months away. With that being said, bids are still strong so if you have product left in the bin and needing it moved out before harvest, now might be the best time. New crop bids are holding steady between $3.50-3.90/bu FOB farm for movement before Jan 2020. Old crop bids remain firm at $4.40-$5.00/bu depending on freight, you may find better the further west you go. New crop malt prices are getting few and far between but offers have been somewhat successful in getting product booked – specifically Metcalfe Variety. We also have a couple lots of Certified Copeland variety available if you are needing some.

Rayglen Market Comments are for informational purposes only. Rayglen Commodities and its agents or employees shall not be liable for any loss or damage suffered by any person as a result of reliance on any of the contents contained within these products, whether such loss or damage arises from negligence or misrepresentation or any act or omission of its agents or employees.


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