One of the positive things about the Western Canadian grain market right now is demand, particularly on the Pulse sector.
Errol Anderson, President of ProMarket Communications expects to see more demand for pulses, especially red lentils, with interest coming out of India.
He notes the flax market right now is also fairly solid.
"We're seeing these flax prices, you know, staying up and the new crop bids are in that $12-13 or $13 or higher per bushel range. These are some pretty solid gains."
Anderson says there are a lot more COVID impacted industries that are far more hurt than Agriculture, we've got some good demand sectors ahead.
He says he's mildly bullish going into the fall market and when looking at Canola market he feels we are at the top of the trading market.
"Canola will be sensitive to the Canadian dollar. The Canadian Dollar did rise significantly we went from around 72 cents right up to 75 cents recently. It did top out here on the Thursday market with crude oil suddenly plunging about 10%. So we're following the direction of crude oil."
The wheat markets, he says, are somewhat range-bound overall.
The barley market for this crop year we believe in Southern Alberta for this year has probably topped out but overall the export demand for this year may come from China where they're making beer with our feed barley.
Meantime, the Livestock Markets are very volatile, there's still a lot of animals that have to go through the system but packers are coming up to capacity.
Meat prices to consumers are expected to drop off since wholesale meat cut-outs are really in a dive right now, which is good news as we need to move this product, but we're going into the summer doldrums. Click here to see more...