Market Report – October 26, 2017
Re: Thursday Crop Commodity Report
Soybean harvest has been going fast and furious locally. Yields have been fairly positive over all, but tough fields that were put in tough are performing as expected. Corn silage harvest is wrapping up. People are starting to talk about getting into high moisture and dry corn, but not much progress to date. Early planted corn is black layered and looking good. Late planted and tough planted corn is variable with probable test weight issues. Winter wheat planting has wrapped up in the area. Many of the fields are looking very lush.
Now the focus will turn to 2018. This is a great time of year to do fall burndowns in preparation for the next year’s crop. Also a good time to get soil samples done and check the existing soil samples on file. The soil is in great shape to apply any nutrients that are deficient or lime to correct pH. Contact Barclay Dick & Son if you need more information. We are always happy to help.
The Canadian dollar is currently at 78.1 cents/US$.
The barrel is at $52.28 this week.
North Gower Grains bidding $181/te for this year’s crop corn. Harvest 2018 is bid at $187/te.
Palmerston Grain is bidding Hard Red Winter Wheat 2017 crop delivered to their elevator at $181/te. 2018 Hard Red Winter wheat is bid at $200/te.
Hard Red Spring Wheat 2017 delivered is $236/te, while next year’s crop delivered at harvest is $245/te.
Soybeans delivered to North Gower Grains are bid in at $431/tonne. 2018 harvest soybeans delivered at harvest are at $428/te.
Current bid for 2017 fall canola delivered to Hamilton is $530/te.
Farmers are working hard to take off their crops right now. Please remember to keep a safe distance between farm machinery and yourself on busy roads. Be patient: we all want to get home to our families tonight!