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Fertilizer prices to drop a bit more - time to buy a big bin and fill it


Written By: Eric Anderson, Jun 29, 2016
Fertilizer prices will likely decline in the short-term then grow in the long term.  So ‘yes,’ buying a big bin now and filling it makes sense.

First of all, what proof of a price decline is there?  The downtrend is highlighted by a recent potash sale to India by Belarus (one of the very few potash producers) at the lowest prices seen in over a decade; about a third less than last year’s level as global supplies of the crop nutrient exceed demand.

About the deal - one of India’s biggest fertilizer importers, Indian Potash Ltd. (IPL), will buy 700,000 tonnes of potash at $227 (U.S.) per tonne on a cost and freight (CFR) basis.

Belarus’ contract price is likely to become the benchmark for other suppliers to India, such as Russia’s Uralkali and North American trading group Canpotex Ltd., owned by Potash Corp, Mosaic, and Agrium.

For background see this story.

The underlying thing from this is, China usually sets the floor or lowest global price for potash with their purchasing, so given the bigger annual’ish China deal is still outstanding, prices will likely decline even further.

India and China, the world’s biggest fertilizer consumers, usually sign contracts earlier in the year. This year, deals were delayed as high stocks held by farmers meant there was no rush to agree a deal.

India’s deal is a rare instance of the country signing a potash supply contract with a major producer before China.  For more information, see this story.

But then, on the upside, Belarus and Uralkali (the Russians) are looking at working together again on potash marketing , thus ending the price war that has driven down the price of potash.  These two and Canpotex (PotashCorp, Agrium, and Mosaic) basically dominate the world potash market.

And, the major trend to drive fertilizer prices in the long term is that the world is adding about 1-million people per week to its population.  We need to feed this additional million per week from the same amount of farmland – so, fertilizer demand will grow.

Now, currently, crop prices are growing faster than fertilizer costs, so things do make sense to buy now.


To take advantage of the temporarily low fertilizer prices, a Meridian fertilizer bin is your best choice. 
 
 
 
 
 
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Posted in Ag news | Tagged with fertilizer meridian bin fertilizer prices | More articles by Eric Anderson

Mustard prices highest ever due to shortages


Written By: Eric Anderson, Oct 23, 2015
Reuters

Mustard prices rise on back of weak harvest

From canada to India, there is a squeeze on mustard that has put producers in a pickle.
Prices of the yellow condiment dabbed on hotdogs and pretzels have leaped to their highest level in seven years this autumn as growers in Western canada, which supplies three-quarters of the world’s traded mustard seed, turn in their smallest crop in nine years.In India, the price of a contract representing both mustard seed and rapeseed, related crops grown in the same areas, has surged by a fifth to record highs in the past three weeks over fears that unseasonably hot weather will prevent sowing that would normally begin later this month.
The higher prices threaten to drive up costs for Kraft Heinz Co., maker of Grey Poupon, and Reckitt Benckiser Group Plc, maker of French’s, which hold more than 40 per cent of the market share for North America’s fourth-favourite condiment by sales according to some estimates.
but it is smaller producers like barhyte Specialty Foods in Pendleton, Ore., that are feeling the most immediate pinch. It lost customers after raising its price on organic brands to cover the cost of buying extra supplies from canada.
“We took a big spike this year,” said chief executive chris barhyte, whose company makes private label mustard as well as its own Suzie’s brand. Although the bulk of his mustard seed comes from domestic farmers, he increased purchases from canada to meet heightened demand for organic products that now make up roughly 40 per cent of his overall needs. Prices for canadian organic seed were nearly 30 per cent higher than in past years, he said.
While farmers savour rising prices and food makers bemoan higher costs, those hurting most may be the middlemen who buy crops from farmers on the spot market to meet forward sales.
Some exporters are “panic buying” due to scarcity, said bob Waldbauer, director of mustard seed sales at broadGrain commodities in dafoe, Saskatchewan. “It’s not a matter of price, it’s a matter of supply.”
He declined to name any specific firms. The biggest exporter to the United States is Viterra Inc., a canadian grains trader owned by Swiss mining and trading firm Glencore Plc, according to data from PIerS. company representatives did not respond to requests for comment.

To be sure, ructions in the niche mustard market barely register amid the meltdown engulfing larger commodities.
U.S. imports of mustard seed came to just $52 million last year, almost all of that from canada, and the entire U.S. retail market is worth about $430 million, according to euromonitor. consumers may barely notice, as seeds make up only 15 per cent of the average retail price for a bottle of mustard, said Walter dyck, seed division manager at Wisconsin-based mustard manufacturer Olds Products company.
The crop is a mere blip on the canadian Prairies, where farmers planted 75 times more wheat than mustard this year.
The problem emanates from canada, where farmers sowed only 325,000 acres (131,523 hectares) of mustard this year, less than half the 2003 record high. It has fallen out of favour with many farmers for relatively lower returns.
In addition, dry weather cut yields, producing only 109,300 tonnes of mustard this year, down 45 per cent from last year’s output, according to Statistics canada.
Processors have recently paid farmers 45 to 50 canadian cents per pound for yellow mustard seed on the spot market, where they are likely to source about half their supplies this year, dyck said. “It’s really, really tight.” The impact is felt most keenly in the United States, where local production covers barely a tenth of domestic demand. The rest is imported from canada, with shipments up 15 per cent this year, according to U.S. International Trade commission data.
big, diversified food companies have been partly protected from this year’s rise, thanks to extensive advance purchases, but next year may be a different story, as high spot prices influence a new set of supply contracts.
“clearly when the price goes up, things change. demand and price go hand in hand,” said elliott Penner, president of French’s Food company, which commands 30 per cent market share with sales of $132 million, according to euromonitor.
Kraft Heinz’s Grey Poupon, which is second in the market with 11.5 per cent, is also competing for more seeds, and launched a strategy this year to boost mustard sales. Kraft Heinz declined to comment.
conAgra Foods Inc, whose Gulden’s brand is third at 6 per cent, said it had not experienced any disruption in production.
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Posted in Crop reports | Tagged with mustard commodity prices crop report | More articles by Eric Anderson

Asia's hunger for bread and pastries boosts wheat demand


Written By: Eric Anderson, Oct 15, 2015
Reuters - Oct 15, 2015

Asia is losing some of its appetite for rice in favor of wheat, a trend that is nowhere more pronounced than South Korea where bread and pastries have become a new staple.
From working mothers, who find toast more convenient to prepare for breakfast, to city dwellers flocking to new eateries for baguettes, South Koreans are at the forefront of an Asia-wide trend that has seen wheat demand climb at nearly twice the rate of rice consumption since 2008.
And while Asia is largely self sufficient in rice, demand for bread and noodles from Mumbai to Manila has made Asia the largest and fastest growing market for wheat imports, shipping in more than 40 million tonnes annually for the past five years or 25 percent of world imports.
"I eat bread with coffee almost every morning," said Lee Seung-Hee, a 47-year-old working mother of two, who often gives her children bread as a snack between meals.
"My husband likes to have rice meals, so I try to cook rice for him. But when I'm too busy, I just give him bread."
South Koreans spent an estimated 6.36 trillion won ($5.37 billion) last year on bread, sandwiches, bagels and pastries, according to SPC Group, owner of the Paris Croissant and Paris Baguette chains, which has even opened two stores in the French capital Paris as part of global expansion.
Meanwhile, South Korea's rice consumption hit a record low of 65.1 kg per person last year, while flour consumption was the highest since 2006 at 33.6 kg, according to industry and official data.
"Housewives are increasingly having bread and coffee for brunch late morning instead of rice and kimchi," said Kang Byung-Oh, a business professor at Chung-Ang University, referring to the spicy local side dish.
SPC Group, which runs Asia's biggest bread making plant and has about 5,000 bakeries in South Korea, said the local bread market has grown at an average of 15 percent per year since 2005.
"You can find this trend across Asia, as Asian countries become westernized...Food products from wheat flour are quick, convenient," said Koh Hee-Jong, an agriculture and life science professor at Seoul National University.
NOODLES
Rising wheat consumption has been focused on large cities where an emerging middle class is exposed to a proliferation of convenience foods from pizzas to sandwiches.
In Indonesia, noodle consumption has helped increase wheat demand in the world's second-biggest importer by more than 60 percent since 2005 to nearly 8 million tonnes annually.
Even in India, the world's second-largest wheat grower, consumption is projected to surpass output by more than 5 million tonnes this year, sparking the largest imports in eight years.
Indian wheat demand is especially strong in the Northern Plains where it is grown, but is rising in the south where naan bread and chapattis vie with traditional rice consumption.
Bangladesh is expected to import around 3 million tonnes of wheat a year to help meet 4 million tonnes of local demand.
"We used to take rice three times a day. Now we are taking rice only once a day," said Humayra Ahmed, a bank employee and mother of two children in Dhaka.
China has also seen wheat demand soar and consumed a record 118 million tonnes in 2014.
Along with record pizza sales and noodle consumption, demand for cakes and pastries is also increasing.
"It's a symbol of lifestyle, consumers pair them (cakes and pastries) with coffee and chatting, and hanging out with friends," said Linda Li, senior research analyst at Mintel China.
PRODUCERS
With wheat production relatively low in some countries in Asia - South Korea only produces about 1-2 percent of its consumption - there is little alternative but to import more.
Australia, Russia, Ukraine, Canada, the United States and Europe have been the chief beneficiaries of Asian wheat demand, seeing collective exports swell by over 40 percent since 2005.
But the relentless climb in wheat consumption does place a strain on exporters in places such as Australia to keep up.
"When you look at wheat consumption, it is to a very large degree driven by general increase in consumption as well as swap out of rice and other staples," said Ole Houe, an analyst at brokerage IKON Commodities in Sydney. "We need to produce a record crop every year just to meet the demand."
 
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Posted in Farm related news | Tagged with wheat rice Asia crop demand | More articles by Eric Anderson

Spot mustard prices hit fresh highs on reduced acreage


Written By: Eric Anderson, Sep 30, 2015

CNS Canada — Producers who opted against selling mustard earlier in the season are now relishing the spot market, which is reaching fresh highs not seen since 2008 against contract prices.

Delivered elevator prices are between 45 to 46 cents per pound for yellow mustard, 31 to 33 for brown, and 34 to 36 for oriental, according to Prairie Ag Hotwire.

Those prices are the highest they’ve been against contract prices in seven years, said Walter Dyck of Olds Foods Products.

“I think the market is moving now because it anticipates a small crop,” he said. “I think that caught a lot of people by surprise.”

This year’s production is estimated at 109,400 tonnes, compared with 198,000 in 2014, according to Statistics Canada.

Farmers only have limited amount of land they can put into oilseeds, so this may have just been one of those years where it was tricky for producers to work mustard into their rotation, Dyck said.

There was also a shortage of certified planting seed in Canada this year.

Despite minor complications, the mustard harvest has been progressing well in Saskatchewan and Alberta.

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Posted in Commodity prices | Tagged with mustard mustard prices crop report | More articles by Eric Anderson

Prairie wheat bids rise with U.S. futures


Written By: Eric Anderson, Sep 29, 2015

CNS Canada –– Cash wheat bids across Western Canada posted solid gains during the week ended Friday, as advances in U.S. futures and improving basis levels provided support.

Average Canada Western Red Spring (CWRS) wheat prices were up by C$6-$7 per tonne across the three Prairie provinces, according to price quotes from a cross-section of delivery points. Bids ranged from about $228 per tonne in Saskatchewan and Manitoba, to as high as $242 per tonne in southern Alberta.

Quoted basis levels varied from location to location, but improved by C$2 on average to sit at $40 above the futures when using the grain company methodology of quoting the basis as the difference between U.S. dollar-denominated futures and Canadian dollar cash bids.

When accounting for the currency exchange rates by adjusting the Canadian prices to U.S. dollars, CWRS bids ranged from US$171 to $182 per tonne. That would put the currency adjusted basis levels at about US$12-$23 below the futures.

Looking at it the other way around, if the Minneapolis futures are converted to Canadian dollars, CWRS basis levels across Western Canada range from C$16 to $30 below the futures.

Average Canada Prairie Spring Red (CPSR) bids were up by C$7-$9 per tonne. CPSR prices came in at about $188 per tonne in Manitoba, $199 in Saskatchewan and $210-$213 in Alberta.

Soft white spring (CWSWS) wheat prices were up by C$12 per tonne on average. Prices ranged from $213 to $214 per tonne in Alberta.

Winter (CWRW) wheat prices were up by C$7-$10 per tonne. Prices ranged from about $188 to $195 per tonne, with the best levels in Alberta.

Average durum (CWAD) prices increased by C$5-$9 per tonne. Average bids in southern Saskatchewan, where the bulk of the crop is grown, were up $5 at $321 per tonne.

The December spring wheat contract in Minneapolis, off of which most CWRS contracts in Canada are based, was quoted at US$5.2275 per bushel on Friday, up 11.75 cents from the week prior.

Kansas City hard red winter wheat futures, traded in Chicago, are more closely linked to CPSR in Canada. The December K.C. wheat contract was quoted Friday at US$5.0025 per bushel, up 18 cents from last week.

The December Chicago Board of Trade soft wheat contract settled at US$5.0775 on Friday, 21 cents stronger compared to the week prior.

The Canadian dollar closed at US75.1 cents on Friday, down by about half a cent relative to its U.S. counterpart compared to the previous week.

Phil Franz-Warkentin writes for Commodity News Service Canada, a Winnipeg company specializing in grain and commodity market reporting. Follow CNS Canada at @CNSCanada on Twitter.

Table: The weekly snapshot of average published prices for Sept. 28, 2015. Futures prices (US$ per tonne) vary slightly due to changes while data is collected. Cash bids (C$ per tonne) have currency conversion included in the basis. Source: AGCanada.com.

CWRS Future.  . Basis.  . Net
Manitoba 193.56 34.32 227.87
Sask North Central 194.01 33.84 227.84
Sask South 193.41 34.24 227.65
Alberta South 193.09 49.12 242.21
Alberta Central 193.45 46.81 240.25
Peace 193.56 42.90 236.46
CPSR Future Basis Net
Manitoba 185.55 3.01 188.56
Sask North Central 185.04 13.68 198.72
Sask South 185.62 12.32 197.95
Alberta South 185.79 27.39 213.18
Alberta Central 186.41 26.70 213.11
Peace 187.34 22.55 209.89
CWSWS Future Basis Net
Alberta South 188.77 25.54 214.31
Alberta Central 189.23 25.26 214.49
Peace 188.77 24.47 213.24
CWRW Future Basis Net
Manitoba 185.59 8.16 193.75
Sask North Central 184.40 3.28 187.68
Sask South 185.62 5.98 191.60
Alberta South 185.79 6.74 192.53
Alberta Central 185.96 9.59 195.55
Peace 185.74 7.38 193.12
CWAD     Net
Sask North Central.   .     322.93
Sask South     325.96
Alberta South     329.72
Alberta Central     326.16
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Posted in Farm related news | Tagged with wheat prices wheat | More articles by Eric Anderson

USDA probes release of incorrect data that pressured crop prices


Written By: Eric Anderson, Sep 16, 2015

Chicago | Reuters — A U.S. Agriculture Department (USDA) unit is reviewing its procedures after posting incorrect crop data online on Wednesday, an error that temporarily pressured grain prices.

The Farm Service Agency (FSA) inadvertently issued the wrong data on crop acreage around 5 a.m. CT and posted corrected data four hours later.

The agency is investigating why the error occurred and reviewing procedures “to make certain there are checks to avoid any future errors of this sort,” FSA spokesman Kent Politsch said.

Some traders said the error eroded their confidence in USDA, which is considered the gold standard for data on crop production, supplies and demand.

“The whole thing was funny, embarrassing, very much so for the FSA,” said Ted Seifried, vice-president of the Chicago brokerage Zaner Group.

The erroneous data showed that U.S. farmers reported they could not plant 1.622 million acres of corn as of Sept. 3, down from 2.301 million acres reported in August, and 848,000 acres of soybeans, down from 2.173 million in August.

The numbers pushed down futures prices as traders projected the declines in so-called “prevented plantings” would translate into increased production.

One trader said the drop in prices automatically triggered his pre-placed order to exit a position in wheat futures. The market later recovered before trading back down to the trigger price, indicating the order was probably executed earlier than it would have been had FSA not issued the incorrect data, he said.

After 9 a.m. CT, the FSA issued corrected data, which increased prevented plantings to 2.352 million acres for corn and 2.219 million for soybeans.

The agency removed the incorrect data from its website after it was posted and intentionally delayed the release of the correct data so that users were aware it was coming, a USDA official said.

Still, officials may face criticism for the error next month at an annual USDA data users’ meeting in Chicago.

“USDA deserves the embarrassment of this colossal mistake,” tweeted Bill Nelson, analyst for Doane Advisory Services in St. Louis.

October is the first month in which USDA’s National Agricultural Statistics Service (NASS) considers FSA acreage data when making its own acreage estimates for a monthly crop report.

Lance Honig, chief of the crops branch for NASS, said he feels “every bit as confident in the FSA data as I did before today… They took very quick action to correct it.”

Tom Polansek reports on agriculture and ag commodity markets for Reuters from Chicago. Additional reporting for Reuters by Michael Hirtzer in Chicago.

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Posted in Crop reports | Tagged with USDA crop prices commodities | More articles by Eric Anderson

Prairie wheat bids climb higher


Written By: Eric Anderson, Sep 15, 2015

CNS Canada — Cash wheat bids across Western Canada posted solid gains during the week ended Friday, as U.S. futures recovered from their five-year lows and Canadian basis levels showed some improvement.

Average Canada Western Red Spring (CWRS) wheat prices were up by C$9 to $13 per tonne across the three Prairie provinces, according to price quotes from a cross-section of delivery points. Bids ranged from about $221 per tonne in southern Saskatchewan, to as high as $233 per tonne in southern Alberta.

Quoted basis levels varied from location to location, but improved by C$5 on average to sit at $36 above the futures when using the grain company methodology of quoting the basis as the difference between U.S. dollar-denominated futures and the Canadian dollar cash bids.

When accounting for the currency exchange rates by adjusting the Canadian prices to U.S. dollars, CWRS bids ranged from US$167 to $176 per tonne. That would put the currency adjusted basis levels at about US$14 to $23 below the futures.

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Posted in Farm related news | Tagged with crop prices wheat wheat prices | More articles by Eric Anderson

Prairie cash wheat bids edge higher


Written By: Eric Anderson, Aug 11, 2015

CNS is reporting that . . . .

Canada Western Red Spring (CWRS) wheat cash bids across Western Canada were stronger during the week ended Friday, as basis levels and U.S. futures markets also showed some improvement.

Average CWRS wheat prices were up by C$7-$10 per tonne over the week, with bids ranging from about $212 per tonne in the Peace region of Alberta, to as high as $225 per tonne in Manitoba, according to price quotes from a cross-section of delivery points across Western Canada.

Quoted basis levels varied from location to location, but generally improved, to average about $24 above the futures when using the grain company methodology of quoting the basis as the difference between U.S. dollar-denominated futures and Canadian dollar cash bids.

When accounting for the currency exchange rates by adjusting the Canadian prices to U.S. dollars, CWRS bids ranged from US$161 to $171 per tonne. That would put the currency-adjusted basis levels at about US$23-$33 below the futures.

Looking at it the other way around, if Minneapolis futures are converted to Canadian dollars, CWRS basis levels across Western Canada range from C$30 to C$43 below the futures.

 Full story and details are at http://www.agcanada.com/daily/prairie-cash-wheat-bids-edge-higher

 

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Posted in Commodity prices | Tagged with wheat prices prairie wheat | More articles by Eric Anderson

June grain prices - SK Lentils up 53%


Written By: Eric Anderson, Aug 06, 2015

Statistics Canada released the June grain prices today.

In Manitoba, Canola and Wheat prices were up slightly from last June, with Dry peas down slightly.

In Saskatchewan, Lentil prices were up 53% from last June, with all of the other crops up slightly.

 

In Alberta, Canola and Durum were up dramatically, with the remainder up slightly.

 

When all months are considered on the long-term trend, all three provinces have resumed an upward trend on all crops.

 

 

Source:  http://www.statcan.gc.ca/daily-quotidien/150806/dq150806a-eng.htm?cmp=mstatcan

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Posted in Commodity prices | Tagged with wheat canola durum lentils prices Alberta Saskatchewan Manitoba | More articles by Eric Anderson

U.S. grains - Prices advance on crop, weather worries


Written By: Eric Anderson, Aug 05, 2015

Reuters is reporting that  . . .

U.S. grain and soybean futures jumped on Wednesday as concerns about poor weather hurting autumn harvests fuelled a recovery from recent losses in the markets.

The U.S. Department of Agriculture, in a crop report on Aug. 12, may trim its U.S. soybean acreage and ending stocks estimates because of excessive rains that disrupted spring plantings, traders said.

Traders were also keeping an eye on weather forecasts amid worries that some growing areas may turn too dry during an important period for soybean development this month.

“Additional risk premium is being added to corn, wheat and soybean futures ahead of critical U.S. supply updates from the USDA,” Chicago-based agricultural consultancy AgResource Co. said in a note.

. . . .

In the wheat market, Egypt, one of the world’s largest wheat importers, said it bought 120,000 tonnes of Russian wheat in a tender.

U.S. wheat is seen as too expensive to be competitive on the export market.

On Thursday, traders will digest weekly U.S. grain export sales data from the USDA.

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Posted in Commodity prices | Tagged with canola wheat barley oats crop prices saskatchewan | More articles by Eric Anderson

OIl prices to remain low


Written By: Eric Anderson, Jul 21, 2015

The Australian is reporting that  . . . .

Crude oil is likely to remain depressed in the year ahead as the major producers show no sign of altering their strategy of maintaining supply ahead of an expected pick up in global demand.

The glut could get worse next year with the resumption of international sales by Iran following last week’s nuclear deal with the West, but the sustainability of any Iranian sales isn’t guaranteed.

Helima Croft, RBC Capital Markets’ global head of commodity strategy, expects West Texas crude to stay in the vicinity of $US50-$US60 a barrel in the absence of significant production cutbacks.

“Until you have Saudi Arabia, Nigeria or Iraq deciding to reduce production, we think WTI is kind of range bound,” says Ms Croft, who has worked at the US Council on Foreign Affairs and the CIA.

“Increasing global demand can provide a floor, but to move comfortably above $US60 a barrel in WTI, we will need to see production come down materially.”

Full story is at http://www.theaustralian.com.au/business/markets/oil-price-outlook-dim-rbc-capital-markets-helima-croft/story-e6frg916-1227449805205

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Posted in Farm related news | Tagged with oil prices Helima Croft input costs | More articles by Eric Anderson

Cattle prices up


Written By: Eric Anderson, Jul 20, 2015

From http://www.agriculture.gov.sk.ca/MarketTrends

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Posted in Livestock | Tagged with cattle beef cattle prices Saskatchewan | More articles by Eric Anderson

Canola, wheat, barley, and oats prices up!


Written By: Eric Anderson, Jul 20, 2015

 

From http://www.agriculture.gov.sk.ca/MarketTrends

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Posted in Commodity prices | Tagged with canola wheat barley oats crop prices saskatchewan | More articles by Eric Anderson

Early Sask. lentil, pea harvests likely to support prices


Written By: Eric Anderson, Jul 17, 2015

CNS is reporting that . . . .

Saskatchewan’s dryness could likely mean an earlier harvest and smaller yield for pea and lentil crops this year, according to a regional crop specialist.

That means new-crop prices will be supported, said Chuck Penner, president at LeftField Commodity Research.

Old crops are disappearing, he said, and the market will become active as soon as farmers start harvesting. “Buyers are ready to take this crop as soon as it’s off the combine.”

Pea and lentil prices will dip slightly right after harvest, he said, especially if farmers sell heavily, but he expects the market to recover after that.

Shannon Friesen, a regional crop specialist with Saskatchewan’s Agriculture Knowledge Centre in Moose Jaw, said lentil crops in the province’s west and pea crops in the province’s south are much more advanced than they should be.

There are indications desiccation will begin in August, which means farmers will start harvesting soon after, she said.

Full story at http://www.agcanada.com/daily/early-sask-lentil-pea-harvests-likely-to-support-prices

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Posted in Commodity prices | Tagged with lentils Saskatchewan crop prices | More articles by Eric Anderson

Prairie durum prices rising as farmers aren't selling


Written By: Eric Anderson, Jul 17, 2015

CNS is reporting that  . . .

Prices for durum in the Prairie cash market have been on the rise recently, but there are very few actual transactions being made as farmers aren’t selling.

“The companies know that, generally speaking, farmers aren’t in the mood to sell, so they’re probably trying to maybe encourage deliveries of last year’s durum, so trying to get that out of the bins, which might be hard,” said Neil Townsend, director of market research services with CWB in Winnipeg.

Cash prices for durum in Saskatchewan and Alberta gained between $20 and $37 per tonne during the week ended July 10, to range from $310 to $343 per tonne, according to data collected from a number of delivery points in Western Canada.

Some buyers are also looking to lock in some new-crop contracts for high-quality durum, due to poor-quality crops out of Europe and Canada last year.

Farmers, however, are still waiting for the market to move higher as drought continues to plague many growing regions in Alberta and Saskatchewan.

Full story at http://www.agcanada.com/daily/prairie-durum-prices-rising-as-farmers-arent-selling

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Posted in Commodity prices | Tagged with durum wheat crop prices | More articles by Eric Anderson

Rye prices seen high, but stable


Written By: Eric Anderson, Jul 17, 2015

CNS is reporting that  . . .

Rye crops have been reacting to Saskatchewan’s heat and dryness by developing faster than they would normally be — but healthy crops elsewhere appear to be helping to keep global prices stable, at least for the time being.

U.S. crops may stop rye prices from moving too turbulently, at least until Canada’s yield becomes more clear, said Roger Kissick, grain merchant at Linear Grain.

“The U.S. also has a good crop of their own. This early in the season, those types of concerns won’t show up until later on,” he said.

According to Kissick, considering the current values of other crops, rye prices are high — and the market will likely not be very active over coming months, until about Christmas.

Right now, he said, average rye prices are between $5.50 and $6.50 a bushel.

Full story at http://www.agcanada.com/daily/rye-prices-seen-high-but-stable

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Posted in Commodity prices | Tagged with rye crop prices Saskatchewan crop conditions | More articles by Eric Anderson