Harvest is well underway, but producers have been slowed down because of recent wide spread rains and poor harvest conditions. It seems like farmers just manage to get going again and have to stop because it is too wet. As of Monday, it is reported that 15% of oats has either been swathed or harvested. Oat production is anticipated to decrease 13.4% from 2015 to 2.9 million tonnes in 2016. This comes as a result of a 12.5% decline in reported harvested acres. Average yield is expected to edge down to 84.8 bu/acre. As far as prices go, feed quality has been trading between $1.70 to $1.90 a bushel FOB the farm, while good quality #2 CW oats have been trading around $2.35 a bushel, freight on board. If you are looking for up to date current prices in your area on oats, call your Rayglen merchant! ...
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Cold temperatures were seen across Western Canada this past week, with some areas recording their first touch of frost. The cool, wet weather has delayed harvest in much of the province, but we still haven’t seen any action in the oat market. That being said, there is not much to report on oats this week, as it carries on its lifeless trend. Prices remains around $1.75 to $1.90 per bushel on good quality feed oats, while #2CW grades and milling quality have been indicated at $2.30 to $2.40 per bushel, both FOB the farm. This commodity has been trading at these levels for months now with no sign of perking up any time soon. As for yield estimates this year, reports expect an average crop to run around 83 bushels per acre, which is up from roughly 76 bushels per acre 5-year average. ...
The following items were of interest in today’s USDA supply/demand report . . . ...
Flax prices are down this week with #1 brown at $11.50 delivered to plant, while the milling market seems to be stagnant for now. Yellow flax prices are being indicated at $15.00/bu picked up at the yard. Flax acres are down from last year, but there is a large carry-over of Canadian supplies, which seems to be holding this market flat. The carry-over is needed to maintain adequate supplies for 2016/17. Export data is available and exports to China were pretty much unchanged from last year while European demand declined. The largest decline from 2015/16 was a 37% drop in US buying, which was due to a larger US crop. 2016/17 projected exports should result in some more US buying but that will be offset by smaller European and Chinese purchases. The larger Black Sea supplies are starting to weigh on Canadian prices and despite the smallish Canadian crop, bids are not likely to rally. ...
We are still a couple weeks off of full force harvest for chickpeas but the weather has finally started to cooperate with warm days and wind. A few guys who have started in the field are reporting disease as well as mold. There is still a general firmness in pricing that are supported by short crops in Mexico. Things to consider if your crop has good quality; there can be a benefit in offering out at levels you are happy with and if you are unsure of quality before you are able to harvest, try lock in spreads for lower qualities. Bids today are at $0.52-$0.55/lb FOB farm for large #2 or better (Orion/Leader/Alma) down to $0.36 for sample grade FOB farm. Feed chickpeas have been trading at $0.27/lb FOB farm depending on location. ...
The oat market remains at its steadily slow pace. Many buyers are reporting they have covered off product for the next while and demand remains limited. Milling interests are pretty well covered for the time being as there is just no sense of urgency in this market. It is no surprise we have many producers still sitting on product and with the new crop now starting to hit the bins, space is getting tight. We have been stuck in a lull and it seems prices are continuing on their flat trend. There may be a better opportunity for pricing your oats in 2016/2017 as the year progresses. Feed oats have been trading around that $1.75 to $1.90 per bushel and a good quality #2 CW has been indicated around $2.20 to $2.30 per bushel, as mentioned earlier, in light trade. If you are interested in marketing your oats, please call your merchant and let them know to keep an eye out on small demand spikes in the market. ...
Recent Commodity Bids
Wheat - Feed, 58lbs and dry
Movement: FOB September - October, 2016
Area: Southwest Sask Contract Type: Spot Purchase
Lentils - RED, Small
Movement: DELIVERED September - October, 2016
Area: North West/Western Sask Contract Type: Spot Purchase
$0.285/lbGrade: #2 Canada
Lentils - RED, Small
Movement: FOB September - December, 2016
Area: All Areas Contract Type: Production Contract
$0.00/lbGrade: #2 Canada