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Galahad, Alberta | The problem is that it is the US wheat prices that are through the roof, while the Canadian prices are slightly up. There isn't enough memory on this site to explain how screwed our market system is with the CWB, US market prices, the new selling options the CWB is trying to set up and change the rules on every year, the Alberta provincial government trying to remove export barley from under the CWB's monopoly, the price of oil, the dollar exchange, US subsidies, Canadian subsidies, I could go on and on.
This is the current situation. Spring wheat has gone up about 75% since last year, compared to canola doubling in the last 18 months or so. Thus, I think that Canada will be pretty yellow this June. On Feb 25, the CWB will open a whole bunch of different programs for farmers to sell wheat through, which are tied to Minneapolis exchange prices. What these prices are after the CWB takes their basis off, will greatly determine where canola needs to be at to buy acres. The same goes for barley. If the border gets opened, and Canadian barley can be directly shipping south, canola will have to adjust the new barley price.
I am following my rotation.
Rosco
What is your spring wheat and barley spot price where you normally deliver? What price can you lock in for? | |
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Canola Futures ???
