Market Comments

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Market Conditions - May 2024

BenchmarkConnect assists our customers with buying and selling of commodities in Western Canada. Let’s give you some insight information to assist with your marketing needs. Uncontrollable factors such as supply, demand, inflation, weather, political unrest, foreign events, new technologies, and even rumors can influence the price of a commodity

BenchmarkConnect is here to help you with your marketing solutions. We are a company you can depend on and trust. We want to extend the best customer service to our new and existing customers.

What we are seeing today:

Market Conditions – May 2024

BenchmarkConnect assists our customers with buying and selling of commodities in Western Canada. Let us give you some insight information to assist with your marketing needs. Uncontrollable factors such as supply, demand, inflation, weather, political unrest, foreign events, new technologies, and even rumors can influence the price of a commodity. 

BenchmarkConnect is here to help you with your marketing solutions. We are a company you can depend on and trust. We want to extend the best customer service to our new and existing customers.

WHAT WE ARE SEEING TODAY:

Wheat –Seen steady rise in price. Weather concerns in the US and political issues overseas. With all the current events, fund money is covering their short-bought positions. Seeing good values for May, as we head into summer. We see Canadian Export values weaken.

 

Barley –Market remined flat through April. Seeing good export values through May, export values dropping through summer months. Domestic users are well covered for May-June, limited time left to market old barley crops. Starting to see the value between corn and barley widen.

 

Corn –Futures were flat through April recent weather and export concerns have driven futures higher. Corn becoming less lucrative in diets compared to barley.

 

Peas/Faba’s –Like previous months still little demand in the feed market.

 

Soybean Meal –Has been on a steady incline through April caused by meal futures, currency, and a firming basis due to seasonal plant maintenance. Ensure good coverage through May-June over rumors of rail strike.

 

Canola Meal –Seen the lows in past months, steady incline following Soybean meal pricing. Encouraging customers to take early delivery as many plants plan maintenance shutdowns end of May to early June.

 

Corn/Wheat DDG –Values have softened significantly through April, following normal seasonal trends. Watch pricing on these commodities they price well into diets through the summer.

 

Fibre’s /Soyhulls, Millrun, malt sprouts–All continue to drop in value reflecting the limited demand as we head into summer. Reach out for pricing and information as buying opportunities will arise.

Please contact anyone of our traders for any questions! Additionally, you can signup to BenchmarkConnect online for further information and quote

Please contact anyone of our traders for any questions! Additionally, you can signup to BenchmarkConnect online for further information and quotes.

Disclaimer: The above comments and conclusion are based on a market opinion and is not a guarantee for buying or selling commodities.  

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