Market Report – December 28/17
Winter wheat is rallying based on the current cold weather over much of the growing region in the U.S. with this cold weather and lack of insulating snow over much of the wheat there is a fear that a lot of it won’t survive. Analysts that are optimistic with the price outlook for both corn and soybeans are pointing out that the U.S. currently has a price advantage on the corn and soybean exports versus Brazil and Argentina.
The Canadian dollar is currently at $0.793 cents/US$.
The barrel is at $59.64 this week.
North Gower Grains bidding $177/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 $186/te. 2018 Hard Red Winter wheat is bid at $193/te.
Soybeans delivered to North Gower Grains are bid in at $423/tonne. 2018 harvest soybeans delivered at harvest are at $429/te.
Current bid for 2017 canola delivered to Hamilton is $501/te.
Hard to believe since there is snow on the ground but 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.