President of intelliFARM Inc., Brian Voth, says wheat will be one of the big stories of the 2017 market.

Voth says, the big rally seen during seeding and into early summer, and a loss of wheat acres in the U.S. over the last couple years, combined with the dry weather during seeding, lead to an explosive upside potential in the wheat market.

He says, lots of farms were able to sell some $7.00 to $9.00 spring wheat, but it came back down very quickly.

"And a lot of farms missed to opportunity because that $7.00, they say maybe I'll sell it at $7.50 or maybe I'll sell it at $8.00. And every time it gets there, they up that target again to another $0.25 or $0.50 until ultimately, you hit that high, and when you start coming down by $0.50 a day, well now you don't want a price because it dropped $0.50 a day, so surely tomorrow or next week it's going to come back."

Voth says, all of a sudden farmers were down two dollars a bushel and nothing had been sold.

Also, canola is true Canadian story when looking at the 2017 markets, Voth says.

"It's always a fun one to analyze. It's been a very consistently profitable for most farms across anywhere in Canada, and I think it will continue to do that."

Voth says, Canada is the biggest supplier of canola globally.

 

Send your news tips, story ideas and comments to [email protected]

More Ag News

Alberta Cattle Inspection Fee Increased

Alberta's cattle inspection fee will be increasing 25 cents to $1.50 per head. General Manager of Livestock Identification Services Ltd. (LIS), Shawn McLean, says the previous fee producers paid when…

Agriflash Headlines for September 18

The Feds Release List of Regions Eligible for Livestock Tax Deferral There are 21 regions in Alberta eligible for the livestock tax deferral provision for 2018. The Federal Government released the…

Alberta Farm Animal Care to Host Focus Groups Across the Province

Alberta Farm Animal Care is looking for members of the livestock industry to come out to their focus groups being held across the province. Executive Director at Alberta Farm Animal Care, Annemarie…

21 Alberta Regions Eligible for 2018 Livestock Tax Deferral

There are a total of 21 regions in Alberta where producers are eligible for the livestock tax deferral provision for 2018. The initial 2018 list of regions was released by the Federal Government on…

Poultry Technician Course Added to the Green Certificate Program

The Green Certificate Program is adding a new course. "Poultry Technician" joins the list of courses being offered such as beekeeper production technician, cow-calf beef production technician, equine…

Agriflash Headlines for September 17

Jason Kenney Leads Trade Mission to India United Conservative Party Leader, Jason Kenney, will be addressing market access on his six day trade mission to India. Kenney left to India on Sunday,…

Alberta Wheat Commission Looking for Farmers to Guide the Industry

The Alberta Wheat Commission is looking for farmers to guide the organization on behalf of wheat producers. They've opened nominations to fill a Director-at-Large position which represents all five…

Jason Kenney Leads Trade Mission to India

United Conservative Party Leader, Jason Kenney, is heading to India Sunday, September 16 for a six day trade mission. He'll be joined by the UCP Energy Critic, Prasad Panda, and Trade Critic, Devin…

Vintage Tractor Pull a Success!

There were about 30 vintage tractors competing at the High River Agriculture Society last Saturday, September 8. The Curator at the Call of the West Museum, Allan Millard, helped organize the fall…

Railways Outline Strategies During Grain Transportation Roundtable

The Federal Government’s Grain Transportation Roundtable on Wednesday in Saskatoon brought together railways, grain companies, and farm organizations. In the last few years, farmers have seen a real…

OkotoksOnline.com is Okotoks' only source for community news and information such as weather and classifieds.

Login