Soggy conditions have slowed harvest progress in much of Western Canada, as untimely showers have hampered crop quality and left combines standing still (or stuck). And the days when harvest equipment has been rolling have not been easy in many areas.
It’s a similar story in the futures markets, as bearish supplies are making it tough for sustained rallies, especially for wheat and corn.
“We’re looking at a year where we’re going to grind through with big supplies overhanging,” says Jon Driedger of FarmLink Marketing Solutions. “In the case of wheat, maybe there’s a quality story that could play out to a certain extent…but in general from a world perspective, we have enormous stocks.”
We chatted about progress and yields, canola demand, basis levels and more, as the harvest of 2016 grinds on:
Did you know RealAg has a free Futures App for iOS? Download it here.