Market Report: September 25, 2024

As we move deeper into fall, market conditions continue to fluctuate across the Prairies, reflecting the ongoing uncertainties in both local and global markets. Here’s what we’re seeing this week:

Canadian Rail Union Update 
The Canadian rail unions have been in an intense back-and-forth regarding a new back-to-work order, which had been expected to stabilize the movement of grain. However, the strike on Thursday disrupted the progress, causing many buyers to pull back their bids or cancel orders altogether. The uncertainty surrounding logistics is making it challenging for farmers and traders alike, with delivery delays looming large.

Global Trade Tensions
Adding to the pressure, the announcement of new tariffs on Canadian canola has raised concerns in the market. While China, a major buyer of Canadian canola, has few alternative sources for supply, there is still a degree of worry about the longer-term impacts on pricing. Thus far, we haven’t seen any major market shocks from the news, but it’s something we are closely monitoring.

Pea Markets
Yellow and green pea prices remain under pressure with ample supplies and the harvest nearing completion in many areas. Delivered prices for green peas across Alberta are averaging around $13.00/bu, while yellow peas are trending between $10.00 and $10.50/bu. Despite decent yields, the ongoing logistical issues and softer demand are creating downward pressure on bids.

Barley
Barley prices remain relatively stable this week, though we’re seeing a stronger demand in select areas like Prince Albert and North Battleford in Saskatchewan. This is primarily due to livestock feed buyers preparing for the winter season, which could create some upward movement in prices in the weeks ahead.

Overall, no significant price swings compared to last week, but the logistics challenges and global trade dynamics are worth watching closely. As harvest wraps up in many areas, buyers are proceeding cautiously, and sellers may need to manage expectations accordingly.

As always, feel free to reach out if you have any questions or need to discuss current bids and market trends.

Because Farming Is Forever,
Carmen