There’s been a lot of action in the commodity markets lately, some of which has led to some stellar pricing opportunities for farmers. There are some global pressures and buying patterns emerging that could put a squeeze on some prices, however, all while farmers are finalizing acreage plans for 2021.
To talk about wheat, canola, durum, lentils, and peas, Robyn Chapman of Viterra Canada joins Kara Oosterhuis for today’s RealAg LIVE!
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- Markets regulation and watching social media, impacts?
- Canola markets?
- Great Chinese grain robbery, African Swine Fever has wiped out their hog herd, so that wiped out demand
- Barley, soy meal, feed wheat, canola, China’s been taking a lot of grains
- Crushers, if they can’t source canola, would they turn to another commodity? Not every plant can switch between soybeans and canola
- Winter wheat’s been driving most of the wheat markets up, volatility and opportunity
- Durum acres are going up in Canada and the U.S., demand’s been strong
- Barley? Sell early, because of one-destination (China) risk
- Is the malt market going to be squished because of the high feed price? To keep it they’ll have to pay up for it.
- Back to canola for a bit, what’s the latest with old crop, new crop?
- Brazil/Argentina drought, finally getting rain around harvest, what kind of impacts would that have on markets now?
- Wheat tariffs imposed by Russia? Might have to go elsewhere, middle east or China.
- “Global wheat is big production, big value, but it has been shrinking in some classes”
- Pulses! Container shortage? Is it still a concern?
- Positive lentil outlook. Carryout from last year and tightness of supply. There are always tariffs that could come on and change that
- Why is the green pea price so much lower than yellows? Feed market, yellows being bought by China. “Have we ever in our history seen green vs yellow as we have today?”
- Access to market tells Chapman that yellows will have a bigger market
- At what point does the rally in corn turn to a positive when it comes to price appreciation in wheat? Corn will drive all cereal markets up but it depends what they’re making with the corn
- What’s the biggest thing Chapman’s looking out for in 2021? Geopolitics, volatility, and COVID, and the funds