Grain Prices....

[farmaholic]

Wheat no longer boring, up 49 cents since Oct 31!

When I look at the MGEX March daily chart....wow...Last July!!!! We are a long way away from that and wonder how much of that high the market can regain? I don't know if there's any reason for it to try? Px will likely be the driver but I sure.don't like the premium and discount structure....eight cents per tenth discount and only four (cents?)per tenth premium. If px is in such demand and there isn't much around....the schedule is backwards in my opinion. But we all know the answer as to why it is the way it is. AND why are the Cos almost all the same? I guess its up to you to negotiate something better...ha ha ha.

Canola has been working hard since the beginning of Oct but never had the dramatic high spring wht did in July

[farming101]

Jan soybeans went up through 10.065 resistance and now in full retreat

[farming101]

Jan soybeans have fallen to a price that could turn out to be overhead resistance for the next while.

Canola will be following soy complex down tomorrow I would think. There was a big draw on commercial stocks in the week ending Nov 5, but would expect a stock build in the week ending Nov 12.

MW had a poor day but no damage done

[dave4441]

Thanks for the update Mallee

I wonder why the Aus growers would increase Pulse acres with prices dropping and massive stocks on the prairies(canada). When and they will, move into the market place prices will drop further. The Canadian quality is top notch. I would expect pricing in both countries to drop further, and movement slow. The “Russian” entry into pulses might further keep prices low if the big exporters in that country convince the farms to grow large acreage again - only to sell at even lower prices = lower Canadian and Aus prices

Because their days to maturity is way longer then ours with the crop going into partial dormancy and then back to vegetative and reproductive. What i am saying is Australia seeded long before the picture became clear and before the serious oversupply situation within India.

What i don't understand is their production potential this year. Official number is 540,000 MT of lentils. What is the future number as it will either help or hurt long term. They have been dropping their asking prices in last week so would seem lentil crop is in ok shape