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Market Notes – some upward movement the last few days in many grains – especially our core 3 grains. Gear up for a sales recommendation in Canola and Lentil as early as this week. Some limited movement on Lentils that we are going to continue to watch, but we are moving towards a point where we simply have to get some more coverage on a price that is still profitable. Otherwise, begin to plan for some carried grain into 2015. There are some solid opportunities in doing so – and the market is likely to force many of you into that situation whether you want to or not.
Report Notes
Canola Highlights – J-MAS remains 57% sold at an $11.19 sales average (Liquidation value of $10.05 – 44% of the Move to date. Analysts are 78% sold at a $10.55 sales average (Liquidation value of $10.11 – 46% of the Move). Customers are 65% sold at a $10.97 sales average (Liquidation value of $10.11 – 46% of the Move). Customers Liquidating with a $10.11 average are putting $183/acre in the coffers for 2013’s crop.
Durum Highlights – J-MAS remains 75% sold at a $7.00 sales average (Liquidation value of $6.46 – 52% of the Move to date. Analysts are 58% sold at a $7.19 sales average (Liquidation value of $6.22 – 45% of the Move). Customers are 64% sold at a $6.92 sales average (Liquidation value of $6.18 – 44% of the Move). Customers Liquidating with a $6.18 average are putting $169/acre in the coffers for 2013’s crop.
Gr. Lentil Highlights – J-MAS remains 15% sold at an 18.5c sales average (Liquidation value of 17.1c – 6% of the Move to date. Analysts are 47% sold at an 18.9c sales average (Liquidation value of 17.8c – 17% of the Move). Customers are 32% sold at a 19.7c sales average (Liquidation value of 17.7c – 16% of the Move). Customers Liquidating with a 17.7c average are putting $83/acre in the coffers for 2013’s crop.