WEEKLY BID PRICES
The production numbers are down from the last report. A word of caution…the estimated yield of 1300 lbs per acre is very generous so expect production to be down even more than this report. With the late crop, the pounding rains and lack of sunshine, it is unlikely those yields will be achieved. The Mexico resolution is still not completed although progress has been made, albeit slowly. It seems now that the larger Mexican importers can import the goods as long as they commit to cleaning the product. Demand has been steady, with US and Europe buying. We feel strongly that once Mexico resolves itself, this market will break above the 20 cent level to the grower.
Flax and Canola
Since the last report, the price of flax and canola his risen only slightly. However, that was to be expected, since it move up so dramatically before. Much like canary, flax yields will suffer. If you look at the Stats Can report above, you will see how much the production has dropped. And again, very generous yield numbers in our opinion. Ownership in flax is a good idea, there appears to be very little downside. Canola production is not down as much as flax and is harvested earlier, so the impact is not as significant as it is/will be with flax.
The maple crop in France is reportedly better than last year, so this will take Europe out of the equation until the French maples are consumed. Yellow and green peas keep moving up very slowly, but up nonetheless. Some good reports of high yields up in the NW corner of Saskatchewan were reported today
Should you need any further information, please let me know
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Kevin Dick (President)
AC Trading Ltd.
1600 Two Mile Rd
Winnipeg, MB R2N 4K1
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