Reminder About Soybean Drying Charges

GUELPH, ON (November 2, 2016) – Soybean producers are reminded about the need to confirm drying charges which are now calculated under the Agreement for Marketing the Ontario Soybean Crop made under the Farm Products Marketing Act (O.Reg 485/09).

Soybean drying charges are no longer tied to the price of soybeans. Cleaning and handling charges, as well as soybean drying charges/moisture discounts, are agreed upon by the dealer and the producer through competitive market forces, similar to the corn and wheat markets.

Producers should confirm all terms and conditions with their buyer before making their deliveries.

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Weekly Commentary

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Grain Market Commentary for March 7, 2018

Wednesday, March 07, 2018

Commodity Period Price Weekly Movement
Corn CBOT May 3.87 ↑ 13 cents
Soybeans CBOT May 10.65 ↑ 10 cents
Wheat CBOT May 4.97  02 cents
Wheat Minn. May 6.20 02 cents
Wheat Kansas May 5.34  12 cents
Chicago Oats May 2.64  06 cents
Canadian $ March 0.7731 ↓ 0.65 points

Cash Grain prices as of the close, March 7, are as follows: SWW @ $238.66 ($6.50/bu), HRW @ $233.91/MT ($6.37/bu), HRS @ $248.62/MT ($6.77/bu), SRW @ $231.54/MT ($6.30/bu).

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Market Trends

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Market Trends Report for March-April 2018

Monday, March 12, 2018

March is often a time in the grain markets where we can see movement in the production area of South America, which can be impacted by weather events. The big US crop has long been put away and is slowly moving out to end-users across the greater hinterland. Problems in Argentina with severe drought conditions have dominated the landscape over the last 30 days as prices have gone up to become much more volatile based on this weather market. Increasingly so, farmers need to watch the weather maps of South America to get clues of production conditions in the southern hemisphere.

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The USDA is starting in on their projection season. On February 22nd during their Outlook forum predictions for 2018 corn and soybean acres came in equally at 90 million acres. So let the games begin. An even bigger USDA report will come March 29th when the USDA releases its prospective plantings report. Markets will be focused on that day to see if there are any surprises.

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