Production pays the bills, marketing makes the money.
Online auctions present a unique opportunity to expand your grain marketing strategy. The MGX platform offers access to a wider range of local buyers and the chance to determine the value of your product precisely when you're ready to sell. Traditionally, the Prairie grain trade has been influenced by buyers and limited to CGC quality standards. However, through expanded sample analysis and the power of online auctions, farmers can establish their desired selling price and leverage the unique quality features of their inventory within the open market.
We hope you take the opportunity to add MGX to your marketing mix this year and we look forward to improving price discovery and profitability for all our customers.
Best of luck in your fall marketing endeavors.
Cheers,
President
This market update was provided by Klarenbach Research.
Klarenbach Research provides independent technical analysis of the grain, oilseed and special crops markets. To subscribe to the Klarenbach Grain Report or the Klarenbach Special Crops Report visit Klarenbach.ca.
Pulse & Special Crop Market Outlook
Large Green Lentils
Large Green Lentils remain in a strong uptrend while they test the 2021 highs.
Small Green Lentils
Like LGL, Small Greens remain in an uptrend while testing the 2021 highs.
Medium Green Lentils
The Medium Green Lentils are also testing the 2021 highs while remaining in an uptrend.
Red Lentils
The Red Lentil chart is not as strong as the greens but is back in an uptrend. An overhead supply of sellers needs to be exhausted before higher prices.
Yellow Peas
The long-term Yellow Pea chart continues to trade with an upward channel while buyers and sellers fight to control the trend in a shorter timeframe.
Green Peas
Green pea prices remain strong, testing the all-time highs.
Canary Seed
Canary seed is in an uptrend and beginning to move sideways, digesting the recent gains.
Kabuli Chickpeas
Kabuli chickpeas are trading near the high prices experienced since the fall of 2021. More time is needed to determine if this is the end of the move or consolidation before another leg higher.
Mustard Market Outlook
Yellow Mustard
Yellow mustard is beginning to form a base as the buyers and sellers fight to control the trend.
Brown Mustard
Brown mustard is off its lows, but it is too early to call this an uptrend.
Oriental Mustard
Oriental Mustard is similar to Brown Mustard, requiring more time to determine the longer-term trend.
What markets are you most interested in?
Pulses & Special Crops
Cereals
Oilseeds
Cereal Market Outlook
Canada Western Red Spring Wheat
The CWRS wheat price continues to trade in a downtrend on the longer-term timeframe, suggesting lower prices. It is too early to get excited about price rallies.
Canada Prairie Spring Red Wheat
CPSR Wheat price downtrend remains strong, telling us not to trust rallies. We don’t trust rallies in downtrends.
Canada Western Amber Durum
The fall rally has CWAD in a bullish trend, counter to the other wheats. Will this divergence continue? Will CWAD lead the other wheats higher, or will this rally be short-lived?
Oats
Like Durum, the oat chart is much stronger than the other wheats. What do Oats know? Oats are showing signs of weakness, so they may not know much. Time will tell.
Oilseed Market Outlook
Canola
The Canola price has been quick and harsh, with the downtrend remaining intact. It is too early to trust rallies
Flax
The Flax price has completed a round trip that began in 2020. It was quite a ride.
Ready to start marketing your 2023 crop?
See what price you can discover through the power of an online auction. Register today for a free account at MyGrainExchange.com
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Nothing written, expressed, or implied here should be looked at as investment advice or an admonition to buy, sell, or trade any security or financial instrument. As always, do your own due diligence.
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