Well “How is harvest going?” has never been a question that I have been so reluctant to ask. On our own farm it has been an epic struggle against tough Flax straw that is taller and thicker than ever before. If there is a silver lining it may be that the net yield is still very respectable. I know of many guys who have had similar struggles with Durum after the disaster that October was. There too yields are awesome, and in some cases quality held surprisingly well. Northern areas were certainly not spared the stress, there is plenty of tough Canola (tough grain, not just Canola) in storage now, and in places harvest work still to be done, but at least most of it has made it out of the field.
While we have had these struggles on the farm markets have been merciful. Most grains bottomed and came back as harvest issues persisted. In some cases harvest losses and quality downgrades will be enough to sustain current levels or possibly strengthen further. I think that Flax has some potential upside, Lentils are no where near as heavily supplied as anticipated pre-harvest, and really good 3 CWADs and better should remain in high demand. Canola harvest losses stabilized the balance sheet some. But outside of enormous storage losses I think we have enough to supply a strong Export and Crush program without getting tight enough for concern. Spring Wheat, Barley and Oat markets remain nearly unchanged and are likely to stay in relatively tight sideways price patterns. Yellow Peas is the one S & D which I have the most concern for, but even there bids have come through seasonal weakness and rebounded.
Grinding through and updating all balance sheets and getting detailed analysis out over the next 2 weeks is a high priority. Usually I would like to have completed this by now, but harvest unknowns made early analytics void of merit anyway so I have delayed. In the mean time I have had a few productive post harvest planning sessions with those who were able to finish before October weather set in. I spent most of those wet miserable weeks dealing with execution of contracts where qualities and quantities did not match up, and we did execute some new sales in Durum and Canola over the past month.
As you finish your harvest and take some well deserved R&R please let me know that you are done. I would like to get to everyone to have a good thorough sit down meeting. Post harvest strategy update meetings are one of the most important grain marketing meetings of the year.