We can feel the grain industry holding its breath.
A unique mix of environmental and geopolitical events this year has led to an industry-wide standoff as everyone waits to see how the commodity markets will respond.
See what our President has to say about it in Mervs Thoughts on Grain Marketing: November 2023.
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 Crops Market Outlook
Large Green Lentils
Large Green Lentils remain in a strong uptrend above the 2021 highs.
Small Green Lentils
Small Greens remain in a strong uptrend above the 2021 highs.
Medium Green Lentils
Medium Green Lentils remain in an uptrend but are finding resistance from the 60 cents level.
Red Lentils
Red Lentils have given back some gains, but the longer time horizon uptrend remains.
Yellow Peas
Yellow peas are consolidating sideways while the buyers and sellers fight to control the trend.
Green Peas
Green peas have returned to a critical level, signaling a time to be cautious.
Canary seed
Canary seed is off the 2023 highs but remains in an uptrend.
Kabuli Chickpeas
Kabuli chickpeas have given back some gains after finding sellers.
Yellow Mustard
Yellow mustard is beginning to form a base as the buyers and sellers fight to control the trend. More time is needed to see who wins the battle.
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.
Grain Market Outlook
Feed Barley - Southern Alberta
Canada Western Red Spring Wheat
The CWRS wheat price downtrend remains intact, although it recently slowed down.
Canada Prairie Spring Red Wheat
The CPSR Wheat price downtrend remains strong.
Canada Western Amber Durum
Durum is showing signs of bullishness, but more time is required to determine the direction of the primary trend.
Oats
One month ago, the Oat chart was bullish. Not so much, this month
Oilseed Market Outlook
Canola
The Canola price decline over the past two years has been painful. We continue to look for signs the downtrend is nearing exhaustion. Perhaps we are close.
Flax The Flax price has completed a round trip that began in 2020. We anticipate it to consolidate sideways until the bulls or the bears gain control of the trend.
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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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