Glacier FarmMedia COVID-19 & the Farm

Experts

 

The Good, Bad & Ugly

The Good, Bad & Ugly

The Good: Barley exports were supposed to go away quietly into the night as the crop year winds down. Barley exports over the past month have actually gained some momentum with the most recent week (week 36) hitting 153,300 tonnes of exports. This brings the crop year total to 2.796 million tonnes which is more than 600,000 tonnes higher than the entire 2019-20 crop year. Exports are likely to remain strong in the coming weeks as 193,000 tonnes of barley is stuffed away in Vancouver and Prince Rupert for export. This means that bulk barley exports will be over three million tonnes for the 2020-21 crop year. Needless to say, barley stocks are going to be extremely tight in the summer months in Western Canada.

The Bad: Spring wheat futures finished up two to three cents per bushel, but the spread to winter wheat futures has deteriorated since last Friday. The September Minneapolis- Kansas City spread dropped to 56 cents per bushel today. The spring snowstorm in the Northern Plains is part of the reason that spring wheat has lost ground to winter wheat futures. USDA reported net spring wheat cancellations of 27,626 tonnes in the week ending on April 8th. Remember that the U.S. wheat crop year ends on May 31st, which is the reason that some sales are being transferred from old to new crop positions.

The Ugly: April showers are supposed to bring May flowers in Europe during most years. The flowers are likely to be delayed in most countries of Europe this year as what was an early spring has quickly turned back into late winter. Overnight low temperatures are expected to dip close to the freezing mark across most of France, Germany, the Low Countries and Poland. Temperatures are expected to warm gradually on the weekend, but values will remain well below normal for at least the next week. Crops have experienced some burn back from the frost which is of concern for the winter canola crop.