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!

SUMMARY

  • 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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