On today’s RealAg LIVE! our host Kara Oosterhuis is joined by Brian Voth of IntelliFarm Inc. out of Manitoba. They talk about canola, soybeans, wheat, pulses, and even get a bit into currencies!
Don’t miss the LIVE! weekdays at 1 pm M/3 pm E on your favourite social media platform!
- Brian wears a snazzy RealAgriculture hat
- More importantly Brian is a motorcycle racer, he started in 2010, but has been riding motorcycles since he was a teenager
- Onto a different kind of racing: markets (Dad jokes for the win)
- StatsCan report came out yesterday. From a Canadian aspect, canola, 18.7 million tonne production, quite a bit lower than expected
- Questionable, the pace of canola delivery?
- Creative accounting, marketing for what we’re seeing right now
- What’s the recommendation for producers if they’re sitting on canola right now, should they sell? Depends
- Wider basis generally for December/January timeframe which will get more aggressive getting later into winter for canola
- Lots of demand from both crush and export side
- What are crush capacities like right now?
- Comparison between soybean crush numbers and canola crush numbers. Soybeans get crushed for meal which goes into feed rations… different purposes
- China, canola purchasing, don’t need meal because their hog herds have decreased, so they go for refined product instead
- “China’s going to buy what they need regardless of who they’re upset at politically”
- China will buy to rebuild stockpiles, even more unpredictable
- Trump>>>Biden? Biden’s taking a “America First” approach, which sounds rather Republican, Democrats will ride a bit of coattails
- South America buying U.S. soybeans? That’s a “once in a blue moon” occurrence
- Shifting into soybeans, acres have dropped in Western Canada, yields in Ontario are average to a little bit above average
- Canada’s not really a factor in the soybean market one way or another
- South America has been hot and dry, starting to get rain now
- Brazilian currency has collapsed, did they manipulate it? What will the real do compared to the U.S. dollar?
- Wheat markets, maybe an underlying negative tone compared to Russia and Ukraine
- “Wheat is basically the person that stands in the corner at a dance or a social (Manitoba fundraiser for a bride and groom, ya know) and watches everyone else have fun.”
- Canada’s in a bad spot when it comes to shipping grain out, mountains on one side and so much land mass, frozen seaways most of the time
- Russia’s export tariffs or bans trick everyone by calling them off after a week
- Everyone grows wheat, so it’s not subject to the same supply constraints as say canola or soybeans
- Feed grains? Barley had record production, as high as $6.00 feed barley in Southern Alberta. A lot less feed grain quality out there. What’s going on with corn prices also a factor
- Corn moving west from Man. again capping feed barley prices?
- Acres in 2021?
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