Market Report – December 7/17
Stats Canada released a production report yesterday that negatively affected our markets as they found about 3 million tonnes of production in the Hard Red Spring Wheat which bushed prices lower. This was unexpected due to the dry conditions that the west had faced during the growing period. A new record for production of soybeans was met this year with over 7 million acres harvested, with 3.1 million of those acres being in Ontario.
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 $0.782 cents/US$.
The barrel is at $56.28 this week.
North Gower Grains bidding $178/te for this year’s crop corn. Harvest 2018 is bid at $183/te.
Palmerston Grain is bidding Hard Red Winter Wheat 2017 crop delivered to their elevator at $174/te. 2018 Hard Red Winter wheat is bid at $189/te.
Soybeans delivered to North Gower Grains are bid in at $431/tonne. 2018 harvest soybeans delivered at harvest are at $436/te.
Current bid for 2017 fall canola delivered to Hamilton is $520/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!