You can probably still get $13.50 per bushel for flax delivered to Manitoba plants and elevators, but not for long. Asian demand is sated. There are 100,000 metric tons of flax sitting at port positions in China and two vessels en route. Assume that Chinese demand, for the moment at least, is dead.
WINNIPEG, Manitoba — The cash canary market is slow and quiet. It hit as high as 25.5 cents per pound over the winter, dropped as low as 23 cents and now trades around 24 cents. We should have run out of canary, according to official statistics, but processors still report calls from out of the blue from farmers with volumes of canary for sale. Exports over two years from August 2013 to July 2015 will be about 334,000 metric tons.
If you’re a lentil grower, you’ve just had the best marketing winter of your career.
You probably had an OK yield but, with all the rain at harvest, you probably harvested your worst-quality crop. Here’s where everything worked. Demand has been red-hot, including for product that, in another year, might have been destined for the feed market.
Soybeans in Manitoba are flat, trading about where they were in January.
Buyers price off Chicago Board of Trade futures, and they had a minor run in February so there were slightly better prices available for a while. Delmar International Inc. is paying 30 cents over May, putting it at $10.10 the morning of March 24, while elevators are about $9.80 per bushel.
Canary continues the slow methodical pattern of trade it has had all winter. We’ve been on the verge of running out since 2011, according to the supply and demand tables, but somehow enough supplies keep coming to town to meet demand.
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