Prices 29/11/16
I just noticed my daily prices email I sent out yesterday came in at 1.33am to me. Seriously Telstra !!!!…….next thing they will be trading pulses. I sent that out around 3.30 – 4pm yesterday afternoon.
The weaker US dollar is not helping our cause at the moment. With corn and soft wheat futures falling in the US it will continue to put pressure on local feed grain values. Kansas wheat was firmer as was MGEX spring wheat futures confirming there is still healthy premiums for higher quality wheat regardless of what our local market would like you to believe.
Unusually strength in US soybean futures did not roll across into the Winnipeg canola market. ICE canola saw a little downside overnight with the nearby off C$3.30 / tonne by the close. In Paris, rapeseed was firmer on the nearby contract by one Euro. Not sure what happened to the old saying “where soybeans go, canola goes” this morning.
While in Canada the desi chickpea bid is pretty much unchanged at 31c/lb, this rolls out to just a little under where our current packer bids are. Kabuli out of Canada are around an equivalent price of about $1450 / tonne. Weekend weather in Manitoba was unseasonably warm and has allowed the last of the canola to come in. Progress across Saskatchewan was slower but had improved, the canola coming in is poor quality though and will need drying.