We are excited to participate again this year in the Movember movement, supporting men's health. We will donate $50 on behalf of anyone that grows a stache or beard during the month of November. Picture must be sent in by Dec 15 (via social media or email) You can also participate by donating directly to the cause (link below)
Friday, November 26, 2022, 7:35 a.m. – The markets were closed yesterday for the American Thanksgiving Holiday. Wednesday was a negative day for our markets. Harvest corn closed down 3/4, harvest soybeans closed down 6 1/2, spot winter wheat closed down 19 1/4 and spot spring wheat closed down 1 1/2. Oil closed up $0.11 on Wednesday at $78.39 per barrel. It is down hard this morning with it now valued at $73.57 per barrel. Our dollar had a high yesterday of $0.790 US and then weakened in the overnight trading. This morning it is currently valued at $0.783 US. New Covid news erupted yesterday and overnight. A variant has been identified in South Africa that has caused world stock markets to pull back. There is much concern how this new variant will affect international travel and of course economic activity. This has brought the price of oil down hard which has also weakened our Canadian Dollar. We can only wait and see how our commodity markets will react to the new variant being identified. Prices on the Chinese exchange were mixed for an initial reaction to the news. Lower oil prices are a negative for ethanol and biodiesel prices which is a negative for corn and soybean prices. Once again we are reminded how outside factors can affect our markets. This is a great time to get looking at next year’s prices and how they compare to your cost of production. With much uncertainty for fertilizer prices it still can be the right time to get something booked in the market. Take some risk off the table. Give us a call to discuss your specific farm marketing decisions anytime. Friday’s thought: Wrong is wrong even if everyone is doing it. Right is right even if no one is doing it.
Please call Geoffrey Guy at 613-880-2707 or Delores Foster at 613-880-7458, or Bob Orr at 613-720-1271 if you would like prices for crop you have stored on your farm. Prices quoted herein are for product at our elevator.
If you would like to receive our daily email (which is sent out at 8:00 a.m.) with our prices and the market commentary please call the office 613-489-0956
