WINNIPEG – If you’re looking to sell some of your oats, now is the time to do it, according to Ed Baldwin, manager advisory services and grain marketing for AgChieve Grain Marketing Experts in Winnipeg, Man.
“We contacted our clients and said ‘hey, if you got oats you want to sell, price them today,'” said Baldwin in an interview on Jan. 15.
Cash prices in Manitoba are as high as C$4 per bushel and up to $3.50 per bushel in Saskatchewan and Alberta, according to Baldwin.
Read Also
Field-by-field mapping could improve yield, productivity predictions
University of Saskatchewan researchers are using field border mapping to collect data on field variability, including problematic weeds, and to predict things like yields.
He added that a pullback to C$3.50 per bushel, such as for Manitoba oats, is more likely than the price pushing towards C$5 per bushel.
“These are good levels. We’re chartists. We’re looking at the chart (and) we are getting what we consider a reversing signal – this market wants to pull back,” Baldwin commented.
He explained there are several reasons pointing towards a pullback.
“Looking at today’s market reaction, I would place it on a general weakness in the marketplace. A lot of nervousness about United States/China trade,” he said, adding the Chinese economy isn’t looking so good at this time.
Baldwin also cited the growing tensions between Canada and China, the political volatility in the U.S. and, simply, the time of year.
“It’s the traditional winter doldrums, where the markets are idle. They’re looking for some kind of spark,” Baldwin commented.
He said by the end of winter the market, including oats, could reassert itself then as Western Canadian producers get ready for spring seeding.
