Click here for this week’s J-MAS Marketing Plan Report.
Market Highlights – Canola continues to struggle, hugging a 3.5 year low but holding it on a day Beans had a visibly poor USDA report day. Bean Demand was rated up but the USDA offset this with higher imports – much of that from Canada. Truthday Tuesday should set the tone for the week and frame how this report was actually received with some upside bias potential still in play as price action was not all that bad. Durum remains quite even though Wheat got a solid shot in the arm by a surprisingly weak W.Wheat crop condition report today along with a drop in estimated year-end stocks. Lentil S&D for Greens is looking exactly as we thought it would but has yet to translate into price just as it has all year. We are getting so Bullish Green lentils that we don’t’ even want to be talking about it here.
Report Highlights
(Remember – These are Cost of Carry weighted prices. Actual contract prices were higher in all but “off-the-combine” delivered months. Our $9.93 liquidated Canola price was actually a $10.14 average price before factoring in the Cost of Carry – you will not find many consulting analysts printing their “Cost of Carry” valued sales averages.)
Canola – J-MAS remains 57% sold at an $11.19 sales average (Liquidation value of $9.93 – 43% of the Move to date. Analysts are 82% sold at a $10.47 sales average (Liquidation value of $10.07 – 46% of the Move). Customers are 66% sold at a $10.94 sales average (Liquidation value of $10.03 – 45% of the Move). Customers Liquidating with a $10.03 average are putting $179/acre in the coffers for 2013’s crop.
Durum – J-MAS remains 75% sold at a $7.00 sales average (Liquidation value of $6.49 – 53% of the Move to date. Analysts are 73% sold at a $6.77 sales average (Liquidation value of $6.29 – 47% of the Move). Customers are 65% sold at a $6.88 sales average (Liquidation value of $6.22 – 45% of the Move). Customers Liquidating with a $6.22 average are putting $171/acre in the coffers for 2013’s crop.
Gr. Lentil – J-MAS remains 15% sold at an 18.5c sales average (Liquidation value of 17.1c – 6% of the Move to date. Analysts are 67% sold at an 18.4c sales average (Liquidation value of 17.8c – 19% 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.
