Market Report – November 30, 2017
The USDA released baseline projections yesterday for the 2018/19 crop seasons. They are projecting corn acres to increase to 91 million acres from 90.4 million acres this year with a trend line yield of 173.5 bushels per acre. Soybean acres are also project at 91 million which is up from 90.2 million acres this year. Yield is projected at 48.4 bushels per acre.
Now the focus will turn to 2018. Securing the best varieties before they are sold out and planning for the seed treatments specific to your operation is key. Contact Barclay Dick & Son if you need more information. We are always happy to help.
The Canadian dollar is currently at $0.775 cents/US$.
The barrel is at $57.30 this week.
North Gower Grains bidding $180/te for this year’s crop corn. Harvest 2018 is bid at $185/te.
Palmerston Grain is bidding Hard Red Winter Wheat 2017 crop delivered to their elevator at $177/te. 2018 Hard Red Winter wheat is bid at $195/te.
Hard Red Spring Wheat 2017 delivered is $229/te, while next year’s crop delivered at harvest is $246/te.
Soybeans delivered to North Gower Grains are bid in at $433/tonne. 2018 harvest soybeans delivered at harvest are at $434/te.
Current bid for 2017 fall canola delivered to Hamilton is $528/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!