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Sunday Morning Thoughts

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    Sunday Morning Thoughts

    Each week different issues catch my eye, last week it was the extreme cold and how wind and solar are almost non existent during certain patterns of weather in Alberta.

    This week the wheat market certainly caught my eye. Last week I could sell #2 11 protein CPS wheat at my local Paterson elevator for $6.45 a bushel April-June delivery, this week by Friday that price was down to $6.09, kind of a shitty week in my books. I had expected a positive bounce from the U.S. deal with China, it appears that it was more hype than reality. So it appears to me that in the markers that affect me directly wheat has softened, as has canola but feed barley appears to be holding steady. What is in store for the coming week any thoughts?

    The Conservative leadership race also caught my eye. Pierre Poilievre, Rona Ambrose and Jean Charest all announced they weren't running. For people like myself that loath Justin Trudeau and for that matter Canada's eastern-centric politics I didn't feel this was a positive developement. The race will now generate less interest and I am not so sure Peter MacKay is what the Conservative party needs. Definitely not a plus for Alberta in my opinion.

    The other story I have been watching is the young man in Newfoundland Joshua Wall who got lost during the wild snowstorm on the 17. Unfortunately this story does not have a happy ending as his body was found yesterday, a very sad ending.

    Anyway it is a beautiful morning in Alberta off too feed the cows, enjoy your day.

    #2
    I'm of the impression that the price of exportable grains dropping has more to do with the Coronavirus scare and associated sell off in every other market than the trade deal and buy the rumour sell the fact.

    If a large portion of the world ends up in quarantine of some types, it will have a drastic effect on the demand for commodities of all sorts. Which justifies a risk off mentality for traders and investors until more is known.

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      #3
      We saw the opposite local prices bounced over7.00 for HRS. The corona virus may cause an overall short term dump in the world economy.

      Comment


        #4
        Finished feeding early here today and off to help my brother’s in-laws wean and haul calves to town. Beautiful day up here too.


        The pairs got moved into the last quarter of corn yesterday which makes things nicer for a while. Sold our yearlings last week and the prices were a nickel off of last year which is ok .......... I guess. Feed grains have been creeping up which is good since I haven’t sold anything ............ except what has become cow chow.

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