Markets today ....

[farmaholic]

Sold green peas for $12 Feb 21/19.
Delivered April 24/19
Even tried to find them some more or gave them leads.
There were very little out there. Pipeline was probably empty.
Harvest has barely begun.
My peas are off.
They say no one wants them and buyers are sitting tight.
They think lots got planted, should be ample supply.
Best bids $8.00...."2/3" of their peak price?
And don't justify it as a good bid by telling me how bad yellow pea prices are!
Called someone who called me earlier(July 3/19) who said they were at $8.50 for fall.
Now $8.00? Next time they call I will want a buck a bushel more.
As my neighbour's peas lay in a swath potentially sprouting and sun bleaching anything on top of the swath or still standing.
ps....I don't HAVE to sell. I guess I need storage in case for a bumper crop to prevent fall gouging.

Hate tying up bins that aren't full.

Yup, nothing new.

[Bowerpower]

Old timer told me you should have enough storage for two crops. He may be right considering how long it might take for commodities to rebound. I wonder how many canola cash advances I need to cash flow that.

[farmaholic]

Old timer told me you should have enough storage for two crops. He may be right considering how long it might take for commodities to rebound. I wonder how many canola cash advances I need to cash flow that.

....then maybe GrainCos and buyers should have enough storage to take immediate delivery( or as soon as it's available for delivery) of everything they contracted, instead of storing it at our expense and risk on our farms when it was priced weeks or months in advance!

[Herc]

Fert going up, grain prices going down, and my patience wearing thin.....nobody to blame but myself, shoulda been a crooked politician.....

[farmaholic]

Fert going up, grain prices going down, and my patience wearing thin.....nobody to blame but myself, shoulda been a crooked politician.....

Speaking of fert, will anyone store all the fertilizer you bought up to 9 months in advance of when you need it?
The big push now is to buy and take delivery of fert in July/Aug/Sept.

So now you can tie up potential grain storage with "cheap"(cough-gag-puke) fert and take shit fall grain prices you don't have room to store

[farmaholic]

The hypocrisy, double standards and one-sidedness of this Industry is mind boggling.

[farmaholic]

But remember, no one wants the grain, BUT I bet they would buy every bushel of green peas @ $7.50 and every bushel of #1CWRS @ $5.75 I would sell them.....ON THEIR TERMS!!!!

[bigzee]

Speaking of fert, will anyone store all the fertilizer you bought up to 9 months in advance of when you need it?
The big push now is to buy and take delivery of fert in July/Aug/Sept.

So now you can tie up potential grain storage with "cheap"(cough-gag-puke) fert and take shit fall grain prices you don't have room to store

The big push not so long ago was to book your airdrill in July to guarantee you had by the following spring, wonder how many are doing that now???
Between 2 dealers I drive by think there was one pre bought in likely Feb.

[farmaholic]

Oh oh oh.....and don't forget to put in your grain price targets! So they can all hang there in LIMBO on the GrainCo tree of Target Prices....then they can pick all the low hanging fruit first before they have to reach for the higher hanging fruit ......and allow it up the golden bricked driveway before it passes through their pearly gates of acceptance and then "judged" on its merits and worthiness of their possession.

[furrowtickler]

Nothing new. Never any decent cash bids at harvest. Either presell or store it. And there was 7.40 new crop cwrs bids too at one point. Just saying
But yes prices are terrible. Hopefully the bottoms in.

Agree ,but last year we “pre sold” 2000 tn of wheat ,got 700tn in then it snowed ... for 3 weeks . We got taken to the cleaners by the time we harvested feed wheat ..... pre selling can be costly....
we did not do any this year partly because of that and because of the extremely dry conditions until July.
We usually pre sell 30-40% .
Looking back yup , should pre sold some , once bitten twice shy though.