Episode Transcript
[00:00:00] Speaker A: Back by popular demand. Ryan Copperthorn with Cows in Control joins us this week to talk all things cattle markets. We also have Tyler Yaremchuk with the Nation Network. He'll get us caught up on the NHL playoffs and of course the Maple Leafs getting that number one pick overall. And we're going to do a little bit of tractor math. Tractor cab math for you. It is that time of year. You're busy. You're going back and forth in the fields. Episode 121 coming at you right now.
Hey folks, welcome to the what the Futures podcast, your quick guide to better farming decisions.
All right, folks, welcome into episode 121 of the what the Futures podcast, recorded each and every week in the UPL studio. I'm back from back from a little vacation. Nice. Nice to be back. Nice to get away. Nice to be back as well. I might save some stories for later on here in the over the next couple of weeks as you go back and forth in in the field there. Of course, UPL's got a pile of great products, one of those being Wave, which is a bio stimulant. We used Wave on our farm here in in 2025. Excited to use it again here in 2026.
Easy to use product, no mixing or water restrictions. And of course, trusted support from your UPL rep and your local retail network. Okay, you can stay up to date by subscribing if you want all things what the future, subscribe on our YouTube channel or wherever you get your favorite podcasts. You can also join the email list at ryandenee Ca if you want some tangible advice and a creative meme. Every Friday I send three or four over to our our marketing folks and they pick one and toss it in the email. They're a little spicy at times, not really fit for social media.
Also, big congratulations. We did wrap up our hat design contest and our winner from Smoky Lake, Alberta, we have eight year old Quinn Fletcher with a winning design.
That's off now for final editing and then we will share that back with Quinn and her family. The Fletchers. Well, they plant some fun crops, including potatoes on their farm. They've got canola, barley, cps, wheat in the mix, a beautiful potato setup there as well. So I'm sure Tyler is a very proud papa with Quinn. Taking taking the victory here. Of course you will be able to grab your hats from the UPL booth at Egg in Motion. That's the only spot that you can get them.
This initiative is in in part with the ccaw, the Canadian center for Agricultural well, being this is all, all the money that we raise here, all the, the donations and the donation from UPL are to support the Farmer Crisis Line. That's 1 866-Farms-01. Remember that. Put that in your phone. Share that with your friends and neighbors, especially during critical times like, like now some. Sometimes it doesn't hurt to have a resource to reach out to in moments of high stress. All right, now it was really cool this year. We had, oh man. What was the final count on designs? I don't know, maybe around 40, something like that. High 30s. We had four finalists. We had a finalist from Manitoba, we had one from Saskatchewan and we had two come in from Alberta. We put those to a vote and I don't know exactly what happened, why this took off, but we had thousands of votes. The winner, Quinn had over a thousand votes just for the winning hat. Came in around 55% of the votes, something like that. So a couple thousand votes coming in, which is just phenomenal. Yeah. We'll talk about more. We'll share the design with you guys here later on this summer. And it's a great hat. Quinn did a phenomenal job looking to hear about her inspiration and where she came up with the idea. So it's a fun hat. It's a light, light hat. Great color scheme and looking forward to seeing the final product. Yeah, final, final product there.
Now I'm going to scrap Positive moments for this week. The positive moment is let's get into it first and we'll come back at the end. But it's been a little bit of a tough or heavy couple of weeks here. It's hit home for me as a 40 year old dad with young kids. It's really hit home and it's been on my mind here a lot the last couple days. But I learned of a couple of what the futures are. Listeners, everyday folk, you know, like you listening today, tuned into the show regularly sent messages, you know, emails, talked, you know, strategy with these guys, you know, guys that, that are my age, in their, in their 40s, late 40s, like mid-40s, with families with kids, you know, with, with farm operations that at the beginning of May here have their world completely flipped upside down. It's devastating. It's devastating to hear this. I know happens and it, you know, it's part of life and maybe that's the positive moment is life itself. But it really, really hit me. I just want to offer condolences to, to the family and friends of, of those individuals. I don't know the. I Don't know the stories. I don't know what, what transpired.
It's, it's not what, it's not why I'm bringing it up. I, I interacted with these folks, with these guys, and it's just a sobering reminder on how precious, precious every single day is. I don't know if it's the, if it's the age the young families are wet, but it really, really hit home this week. And you know, we just offer from, from us here at the what the Futures podcast, just condolences and prayers to the, to the family and friends of those individuals. Yeah, I never met these guys in person, but I did get a chance to interact with them. It's just devastating news. So I know the communities will rally around these families. I know they will get support as they, as they move forward. But she's been on my mind a lot here the last couple days. And I also, I want to shout out some of our guys, couple of guys here just kind of going through it right now as well. You know, they're, they're out there battling Rick and Barry, a long time friends and, and clients that I've worked with for, for many, many years and, and just kind of going through it right now at a crucial and critical time of year when you're, when you're, you know, planting crops. You know, guys, you know, you got this, you're, you're doing great. You've got wonderful friends and family and neighbors supporting you as well through, through your, through your journey here of, you know, recovery as you go. So anyway, just a shout out to, to Rick and Barry as well here.
Just kind of going, going through it right now with, with some stuff that you just don't want, you just don't want to be going through that in life. And, and they are at a critical time of year. Our, our farm families, you know, again, the, the resilience of farmers and farm communities just continues to, to stand out at, at key times and critical times. And you know, even right now we've got our farmers problem solving, lending, labor, equipment strategy, you know, how to help through natural disasters. We've got flooding in parts of the prairies, an absolute mess in, you know, in my local RM in Army St. Louis, it's just a mess right now. There's others as well going through it. And again, farmers out there with their equipment, their time, their labor, their strategy to help sort things through. And then of course, those that continue to deal with dryness and drought and fight fires, farmers are in rural Communities are often the first ones if, if not always the first one showing up and getting after it. So yeah, guys, I don't know, it's just, it's been on my mind, some of the stuff's been on my mind here all week. Again, just hats off to everybody that's that's going through it here. We do have, we've got a couple great guests.
The demand was coming in. Ryan Copperthorn, Cows in Control. Can we get an update on cattle markets and, and we got him this week and then we've got Tyler to, to talk all things hockey and NHL from a crop marketing perspective before we get to get into it here with Cows and Control. As of recording, we had a pretty significant sell off, you know, another war related headline and by the time you listen to this, who knows, it may have fully recovered. And in fact the wheat markets, Canola's up three bucks a ton as of recording here on Wednesday night. And Kansas City weed after just a phenomenal recovery today, just an absolute exciting turnaround. Down hard early in the session and fought right back. It's currently down about 4 cents. I put like reminders out there and uh, just my, you know, bias, my opinion in these markets is yeah, you may want to, you may want to treat, you know, canola and soybeans a little differently than, than maybe your pulses and your specialty crops. I still think patience on your specialty crops is, is a good thing. They haven't rallied because of the war or not nearly as much. So you know, give them a little bit of patience on the wheat side. Chuck's going to get got into it in cup of coffee this week. If you want to hear his talk on seasonals and peaks and if they're coming shortly, you can check that out from Tuesday's recording on YouTube or your favorite podcast provider, maybe wheat markets. The seasonal patterns suggest that the highs are here or approaching or happening in the near term. And so you might want to be a bit more opportunistic on that one.
I still think there's some weather stuff going on. I think the Kansas Wheat tour next week can provide a bit of a bullish spark. Yeah, wheat I think still has some, some signs of life here. Canola, man, it's been super resilient. So do you want to treat it a bit more cautiously maybe, but yet when I think it's starting to fall apart, it's been very resilient. So, so that's a good thing. Now I will say though that if you take off and this is a big like, you know, this is kind of a crazy thing to do to take the war in the Middle east and just park it and say, don't think about that rate at this moment and look at some of the. Your market action. You've had a great Canola rally. You've had a phenomenal.
Well, not phenomenal. A good rally in wheat markets as well. Certainly better than what many were expecting. And so it's important to park some of the emotion and park some of the guessing and just lock in some profits. Right, Lock in some profits. We're going to talk about tractor cab math here and a little bit later on in this week's episode. You know, I. I was gone for a couple weeks. I browsed a bunch of specialty crop prices before hitting the record button. And I don't know if I'm missing something, guys. I, I certainly haven't seen much. Maybe a little pop in malt barley values. What did we see, like six and a half in malt barley in, in central Alberta. That, that's kind of noteworthy. Old crop flax prices climbing a little bit. What did I see, 18 and a half or something like that?
I don't know if that's really new, though. I don't know. Nothing really jumped off the page. So if I'm missing something, certainly let me know. All right. Okay, now let's get into it. Let's go over to Ryan Copperthorne with Cows and Control. And let's just get the latest and greatest here on cattle markets.
All right, folks, back by popular demand, Ryan Copperthorn with Cows in Control.
Ryan, how's. How's the week going?
[00:12:27] Speaker B: Well, it's a good day to be in the cattle business. It's been phenomenal pricing, so I guess there's no reason to talk to me if, if prices are good. But we're sitting here at all time
[00:12:38] Speaker A: highs right now, so all time highs are a good thing. Are you guys calving right now? Are you all done?
[00:12:43] Speaker B: Yeah, no, we're right in the middle of calving right now, and most people are. It's. It's been a pretty good season that way. We had a little bit of a storm move through, but nothing serious. So we've had pretty good good luck. And every one of those calves is going to be $4,000 this fall. So it's.
We got to make sure they all stay alive.
[00:13:01] Speaker A: Yep, 100%. 100%.
[00:13:04] Speaker B: That's not the only motivation, but of course it, it does inspire you.
[00:13:09] Speaker A: It. It's maybe not the, not the only motivation. But yet when it goes bad, it feels way worse at, at those values too. So. Yeah.
[00:13:17] Speaker B: Yeah, that's great.
[00:13:19] Speaker A: So, Ryan, I think I figured out this, where we're going in this cattle market. Okay, so just, just give me a second here. I'm just gonna, I'm gonna be a slightly long winded, which is, which is normal for me. But I'll try to say the story as fast as I can. I taught my kids a life lesson here on, on Saturday afternoon. So the, the, the life lesson being you don't go to a ufa location after 12 on a Saturday within about a 45 minute drive of the city. Because what you get is a very interesting and a time, a time delay, a waste of. Not a waste of time. But you're stuck there for a long time because the people ahead of you. This is what happened to us on Saturday. The folks ahead of me, there's two, two people working and two guys there. And the one guy's like, he's like, how many, how many fence posts in, in like a roll? Like 144. He's like, okay, I, I need a, a roll of fence posts. They're like, well, okay, what, which ones? What size? Like, what are you doing? And he's like, well, I'm building a pasture. Like, okay, so then. All right. Oh, I think I need wire. Oh, yeah, you need wire. Okay. What kind of wire? This guy's in front of us. My poor Finley's just, just waiting with me. We just need eight fence posts. I'm also an idiot in the store at that. I'm an idiot. I'll get to that in a second. Anyways, it takes like half an hour. He finally gets his order and he's like, okay, well when can you deliver it by?
Could you guys be here before, be at my place before five?
And she's like, I don't think we could be at your place for like two weeks. Like, let me check.
And he's like, well, that doesn't work. My cows are showing up on Tuesday.
And so anyways, she's like, well, yeah, we're. Our truck's booked. So then the guy beside he's tells a lady, yeah, I've got, I've got 10 heads showing up next week.
And she's like, okay, like, what kind, what kind of cattle did you get? And he's like, oh, I don't know. She's like, oh, okay, well, what did you pay for them? She's just making small talk. And he's like, I don't know, somewhere between 30 and, and 50 grand. She's like, you don't even know what you've paid for these things. You don't even know what, what they are. Anyways, the guy, we go outside, he's loading up his minivan with a big water trough on the roof of the van and then stacking the van full of stuff. And the conversation was incredible. But what I figured out, Ryan, is in a long winded way, these two guys, they're going to mess up our cattle market. They're the ones who are going to mess it up. These are the guys getting into cows and they're going to mess it up for us. What do you think of that?
[00:16:00] Speaker B: Well, I think there's some truth to that. I think we actually need, we need people to grow this herd whether they're ranchers or not ranchers. Because I'm afraid we're going to price ourselves out of the market if we don't get growing here. But you know, one of the problems I was thinking about, I was talking to a client and it's like these guys have made so much money on the calves and the backgrounders this year that they got a tax problem.
So they got a couple choices. They can either keep hanging on to these cattle longer, which is, you know, ultimately they got to sell them or else they could sell them, but then they got to turn around and buy something. And everything you buy now is overpriced and doesn't pencil. Like when you look at the forward returns, nothing's pension looking forward unless this market goes higher.
So.
Or the third thing is you pay your taxes, you just sell them and pay your taxes. And nobody wants to do that. They don't, you know, for fundamental reasons they don't want to send their money to Ottawa. So yeah, ranchers end up having to, to sell these cattle and then overpay for cattle now, which I think is driving the prices higher because it's tax money. It's guys that are forced to buy something just to, to avoid paying tax. And that kind of seems to happen at the top of these markets like this.
[00:17:14] Speaker A: An interesting scenario like so let's talk about like where, you know, for someone who hasn't looked at the cattle market for a while like myself, like where are we at price wise here? Like you say, things are kind of cruising along, but are we feeder cattle? Are they doing something new? I didn't, honestly, I didn't even look before we hit record.
[00:17:33] Speaker B: Yeah, we're sitting at sitting at all time highs right now. If you look at the futures chart for feeder cattle, we've just been banging our heads at this high. We made an all time high back in October, then we had a 20% correction and then it came back and hit the all time highs. And it's been kind of like a game of whack a mole. Like it just every time they try to get over that high, you know, they get set, set down. But we're trading at extremely high levels right now. And as I said, when you, when you run the projections of feeding cattle or taking them to pastures or whatever, it's really hard to make them pencil. They're very expensive. But at the same time, if you're selling cattle, it's just a phenomenal market. Just absolutely phenomenal. And I've been looking at measured moves on those charts where if this thing breaks out, we're sitting here now with seven dollar calves. If this thing breaks out to where, where it goes for another run, I think we're looking at $8 calves if this thing can do it. So I'm telling producers right now to, to hedge right now because we are at all time highs and it hasn't broken out, but there's a pretty good chance that it might go another leg.
[00:18:42] Speaker A: So because you're at all time highs, you recommend the hedge or in reviewing those hedge strategies, but with the caveat there that this thing could rock and roll yet and see some significant gains yet.
It's a great spot to be in when you can hedge that and still be thrilled and happy when this thing keeps climbing. That's a good spot to be in.
[00:19:06] Speaker B: Yeah.
[00:19:07] Speaker A: Are there any like bearish fundamentals out there? Like my second point that I wanted to bring up was like, can the consumer out there, does the price of fuel, the price of, of energy going up? Like is there anything there that you could relate back towards? Catalyst say well, the consumer is spending more on at the fuel pump and you know, on their, their bills like that that may impact cattle prices in the future to the negative or is that not even really in the same conversation?
[00:19:40] Speaker B: Yeah, there's a lot of things that are bearish and it's kind of why I'm dubious why we're making all time highs here. Because yes, we're, there's a lot of demand which has been driving this thing and it's really the consumer that's been pulling it. It's not, you know, as far as supply, we have 9% more cattle on feed this year than we had last year in the U.S. they have, they're basically flat on the air, but they're bigger cattle too. So in terms of pounds of beef, we've actually got more cattle and more pounds of beef standing in feedlots right now than we did last year.
And so we're importing more, we're exporting less, we've got the same amount or more cattle. We're rebuilding the, the herd here in Canada. Starting to happen.
There's also the, like this, this gasoline price, you know, is going to start affecting consumers at some point, so we have to question that from the beef demand side. But so far people have kind of stuck their finger in their ears and are going with it. And you know, I, I think a lot of it's been driven by the closed border to Mexico because there's a million cattle that weren't, weren't brought into the US that, you know, at some point that's going to reopen, but we don't know. And then in Canada specifically, we're having a little battle with the government wants to make a free trade agreement with mercosur, which is a South American countries, and if we do a free trade deal with them, that could open up a bunch more beef supply from them into this country. And right now we're already importing, you know, 30% of what we, we eat in Canada is imports. And they're bringing in beef at, I think it's 63% cheaper than our, our beef is.
So if, if we allow that to continue with a free trade deal, that could definitely kind of flood our, our prices a little bit. So there's, those are things to, to hedge for. I don't think there. I wouldn't lose too much sleep, but, but get those things kind of locked up.
[00:21:44] Speaker A: What would be the benefits of that free trade agreement agreement or is.
Is.
Is. I guess that's outside of agriculture, probably.
[00:21:54] Speaker B: Yeah, I would be outside agriculture. I think on the beef side, they don't need our beef. They produce lots of beef down in South America. So yeah, it's all gain for them to just be able to get more beef into Canada at twice the price they get at home. So yeah, the industry is kind of saying, hey, you know, this is a bit of a protected industry. We got to be careful here.
[00:22:14] Speaker A: Okay, fair enough. We, what about if we look at the US there's talk this week of, of some investigation with the packers or price fixing or something. I, I don't know what it all, what it all meant, but is there anything on your radar when it comes to comes to that headline and that investigation or is it kind of smoke and mirrors? A little bit.
[00:22:37] Speaker B: It's smoke and mirrors. I mean, they, they always go after the packers when, you know, they, they routinely run after the packers because they're the kind of the bottleneck in the industry. And there's four packers that do 85% of the all the beef in, in America. So it is a monopoly type situation. They did a packer probe in during the Biden era and didn't really come out with anything. I think one of those packers got a slap on the wrist a few years ago and just did a payout. That's usually what ends up happening. It really makes good headlines for, for the president and, and the government to look like they're doing something because they get a lot of flack from producers about collusion and price fixing and all that stuff for these big packers. But I think we need to be very careful because we're sitting there with packers that aren't making money or you know, it's. They've kind of been on either side of making money for the last few months and we're already seeing packer strikes and packers shutting down.
What killed our bull market in 2015 was when packers started going dark when they said, you know what, we've had enough. And we had a couple big packing plants shut down. And it just killed the demand side of things because they're the ultimate buyers of our cattle. So we have to be careful we don't go. Go to war with them to the point where packers start closing doors, because that could, could be hard on our cattle prices right now.
[00:23:59] Speaker A: Okay, all right, fair enough.
[00:24:00] Speaker B: No sympathy for them because they don't. They deserve a little flack. But, but all the same, you know, you go to war against your main buyer, that's.
That's risky. It can be risky.
[00:24:12] Speaker A: Yeah. Yeah, definitely. Definitely. Okay, so in the past we've talked about.
So obviously you can, if you have a brokerage account open, you know, you can hedge your, your cattle that way. But is there any other ways right now that you could protect against fall prices or are any tools available at this time or is there nothing quite out there? I think we, we chatted Alberta specifically last time. Yeah.
[00:24:38] Speaker B: Well, I mean, the number one thing you could be doing right now is doing a forward sale.
Like these calves are seven bucks right now selling. You can forward sell your calves for seven bucks in the fall, which is like a phenomenal record level price.
Can prices go to $8.
Yeah, you would miss out on that if you sold them for seven. But I don't think you'd lose too much sleep. I think, you know, the kids would still get Christmas gifts at $7 caps. That's probably, you know, one of the best recommendations. But the other one is the livestock price insurance. You know, we're locking in.
It's trailing the current prices by a fair margin, so people don't really like it. You're locking in with insurance somewhere between 6 and 650 a price pound for calves. It's not 7, but it's a floor price, right? Yeah, it, it gets you a good floor price from which historically is just monumental. To, to be able to sell calves for six and a half bucks is, is pretty phenomenal.
So I, you know, I, those are the two that I would recommend the most. And then of course, you can look at things like options and futures and such, too, but.
[00:25:45] Speaker A: Yeah. Cool.
Anything else that we're, that we didn't cover yet. Ryan, anything else on your mind with, with the cattle market?
[00:25:56] Speaker B: Well, I think, you know, I talked about ranchers having these tax problems and overspending a little bit right now on cattle. And you just want to be a little careful. If this is the top, like, if this thing doesn't break out, you're going to want to get some coverage on. So, you know, don't go crazy buying these bred cattle or pears at ridiculous levels because, you know, a 15 or 20% pullback on animals that are 5,000 bucks, it's, it's a lot of money. It's a thousand bucks ahead on a $5,000 animal if we get a 20% pullback. So you need to be prepared for those kind of hits if they come. I'm starting to think the way the market's acting that we're probably going to have an okay summer, but just be on guard because we are flirting with very dangerous levels here. So risk management's important for some reason.
[00:26:45] Speaker A: We don't live there forever. Right. We want to live at those high prices forever, but we, we don't. At some point, something happens that changes the direction of this market and you sit back and say, why, why wasn't I on this? Why wasn't I looking at this a little harder when prices were higher? So.
[00:27:00] Speaker B: Yeah, and I wanted to compliment you too. You had a, A while ago, you had a podcast with, with the guys talking about growing forages and cover crops. And, you know, I think that's, that's one way that this industry can grow is if a lot of your farmer clients can start getting into that growing some cover crops and forages and putting cattle into rotations. I, you know, we're very land constrained in our business. It's going to take farmland to grow this herd a little bit. So I was pleased to see you guys talking about that.
[00:27:32] Speaker A: Well, it's new, new to me. I'm wearing my Brett Young hat, one of my Brett Young hats today. But they've got some great varieties and great, great products and I actually just kind of opened my eyes to some seed production, forage seed production as well, which, you know, the returns look very, very strong and yeah, just, just trying to think of different ways especially when farming is, I don't know if it's ever been riskier than, than where it's at now and just trying to diversify as best we can. So you've got a little, a little meeting coming up here in June. Do you want to give us some information on that? Maybe the date where you're hosting this workshop and some of the content that you're going to cover?
[00:28:13] Speaker B: Yeah, it's on June 18th. We rented a hall in Madden which is just north of Calgary, north of Cochrane.
We're going to be hosting. I've got Brenna Grant from Canfax and Brian Perriat from More than just Feeds and they are both analysts that, comparable analysts that do the similar work to me. And they look at a lot of data but they also, they explore cost of production and benchmarking but they also do market analysis. And I thought, you know, this is a perfect time to talk about that because I think we're at the top of the market cycle. And so at some point we have to expect the next five or six years are going to be, you know, probably a little tougher or maybe lower prices. And it's going to come down to who can manage their costs the best, who can protect their prices the best and who can play these markets the best. And so these guys are real experts and I wanted to get them all in the same room and, and just kind of banter back and forth about how the top third operators operate and also, you know, where's this market going? How do you protect yourself, that type of thing. So it'll be a really good day for, for cattle producers, I think to, to have some Q and A and to get some insights on markets and such. So I will be posting on social media and on our website, Cows and control dot com. Yeah, hopefully we can get lots of people out. We're looking forward to it.
[00:29:42] Speaker A: Awesome. So that's June 18th in Madden Alberta. Is it? I said it correctly?
[00:29:47] Speaker B: Yeah.
[00:29:48] Speaker A: And Madden hall and it sounds like a well rounded group of speakers there. So I'm really hoping that I can make it out because I need to learn a little bit more on managing risk on the cattle side of the business. So I think for myself there'd be a lot of. I'd be taking a lot of notes that day, Ryan. So yeah, I'll make sure to go to the website cows in control and get my spot.
All right, man, well, I appreciate your time. You know what, there's lots going on so let's try to get together again in the next, you know, three to four weeks, you know, maybe prior to, to your, to your event there as well and just, just see where we're at. Did we make a, a new high? Have we pulled back and just make sure that that guys are kind of dialed in on, on their marketing heading into summer.
[00:30:40] Speaker B: No, that sounds good.
[00:30:41] Speaker A: Awesome, buddy. Good luck with the rest of calving. I don't know if I'm supposed to like, maybe knock on wood. I have a good wood table here, so I'll knock on wood for you and, and fingers crossed that yeah. That you have a good rest of the run there.
[00:30:54] Speaker B: Yeah. Well, thank you. Yeah.
[00:30:56] Speaker A: All right, take care.
Well, you heard it there, folks. June 18th, mad in Alberta. You can go and check out some of the great work and great, great lineup of speakers. I gotta go to that. Always great to have Ryan on the show and we're gonna do that again here in short order. Every time I talk to him it's like, oh, we made a new high and so on and so forth. But I know at some point we will wonder and think about what we could have done when these things markets do pull back. All right, I wanna give a shout out to show sponsor John Deere. Of course, our farm.
Even though we're delayed planting, we are feeling quite organized here. We've got John Deere operations center locked and loaded. Of course it's a place that helps you manage your critical farm operations. You can plan work to reduce errors and gain efficiencies, monitor job quality and productivity in near real time.
And that's important for us this year. We've got a late start on the Denis farm here for 2026 and it is, it is May 6th. I talked to the farm today.
We had a risk management type meeting and you know, we want to be optimistic but you know we're going to be at least a week late. I think that's best case scenario. We're probably 10 days behind, behind maybe two weeks. Fingers crossed though. We just want some, some fixed roads. We need fixed roads. We have washouts all around us. We need fixed roads to, to really get excited about going. And my dad sent me pictures tonight with the snow continuing to linger in the background. So John Deere operations center though is going to keep us efficient and help us maximize our time in the 2026 growing season. All right, before we get to Tyler your Emchuk, I want to highlight here. If you're going down the field, if you have time, I know some of you have like the dry erase markers and you will write this on, on the whiteboard or on the window. Just doing the math on what these prices, what this looks like for you and your farm compared to your budget, compared to where we started.
Like I'm talking big, just big whole numbers. Like if you could be there and say, you know, you know, I'm going to grow a thousand acres of, of wheat. I thought that was going to generate me somewhere in the, in the neighborhood of 475 bucks an acre or $450 an acre. 450 grand, you know, a thousand acres of canola. You know, I was thinking that maybe if the, the stars aligned or I've used crop insurance numbers, you know, I was going to pull off 700 grand or something like that, 1.15 million bucks on my 2,000 acre farm. Like just kind of writing that out and then beside that, you know, and you probably have three or four different crops. Your acres are likely higher than that as well. So it's going to be a bigger number at the end of the day. But you start to look at what is happening in your local area with, with price. Like if I thought that, you know, I was going to be staring down, you know, $450 an acre, you know, I have a chance here to, to, to sell at, you know, 850 or price that that is, you know, what would we call that? You know, higher than budgeted and also like much higher than crop insurance values. Higher than, than budgeted. And then what does that look like on your farm? You know, like what does that look like?
What could you do with that money? Could you sit there and break even? Could you go and reinvest in farmland or in equipment or put some money aside for your rainy day fund?
We have an opportunity here in front of us to protect higher values. We have an opportunity to secure stronger margins than what we were thinking. Even with the high fertilizer, it's still better than what many were thinking. And so what does that do as a whole number on your farm? What does, you know, if you were budgeting $14 canola and you're staring down $16 canola, what does that extra 80, 90, $100 an acre do for you?
You know, an extra 100 grand on my thousand acre farm in Canola, an extra, you know, maybe 30 grand, 35 grand, 40 grand in wheat. What could you do with that extra 140, 150 grand. Right. And so just trying to pencil it out and I would do like three scenarios. What happens at my budgeted number, what happens at today's prices and then what happens, you know, if I make an ultimate goal, an ultimate plan, what could that do? Because what happens like what happens if canola goes to $800 a ton or if wheat futures go from 7:40 to 8 bucks or 850?
You know, having that number staring at you on the, on the window may remove some of that emotion and you may just be like, I'm going to pull the trigger on some of this stuff. I'm going to sell some of this stuff and take this extra margin that I wasn't expecting and, and lock it in.
The other thing I want to highlight, this was a great discussion I had with Tyler over at, at rbc, the Simpson Caputo Group there. But he said, you know what, Ryan? You know, I can't believe that I can lock in a floor price on Canola. I can take a 750 strike, you know, 30 some bucks a ton for the option and secure 710, 720. I can secure even with the cost of the option higher than what I was budgeting or what farms were budgeting for this crop. Even with the cost of the option included as a cost on that, which it can be. I can secure that, I can secure that. I didn't even think I would be able to sell anything at that price, never mind also cover the option, right. And so we've been doing quite a bit of that this week of just, you know, grabbing these $30 a ton kind of puts, November puts and just kind of protecting $16 canola, something like that, I guess the price of the options in there, so we call it 1525, 1550, whatever it is, something like that. But just protecting against these worst case scenarios. I'm also gotta include a basis in there, right? So it's 16, 10 minus some type of basis off that. So you know, you're protecting whatever 15ish dollar canola, like your option? I won't get into all that today. Anyways, I think it's a cool scenario, and I think subtractor cab math would certainly help. Let's get into it here with Tyler from the Nation Network, and then we'll come back with eating your veggies and my song of the week from the what? The Futures playlist on YouTube. Music.
All right, folks. Tyler, your rev Chuck joining me from the Nation Network and Oilers Nation every day. Tyler, how. How you doing, man? Like, the letdown after last week. Like, how are you coping? Do you have coping mechanisms that you're. You're using? How's it going?
[00:38:36] Speaker C: I go golfing a lot, and you knew that. I just. I golf a couple times a week, and it's easy to take my mind off the hockey thing. But honestly, like, when the Oilers lost, as frustrating as it was, I kind of sat there and was just like, it was very easy to see that it wasn't their year. So, like, you know, when you watch them lose in Game 6 of the Cup Final, Game 7 of the Cup Final, like, those ones are the heartbreakers that kind of sit with you. They still sit with me today, and it's like, damn, they missed some really good opportunities around one loss in a year. And in a series where you could just tell they were beat to shit and didn't have it, that, yeah, I just kind of shrugged him. I'm like, hey, that's life. You're not going to go to the Cup Final every year.
[00:39:12] Speaker A: It's not great for me to say this out loud, but that was kind of my mentality all year with the team, too, is like, didn't really have high expectations, so the letdown wasn't.
Wasn't as great. But I. I have been reflecting on, you know, being at a game 7 in the past where they won, you know, against the Kings or going to the NHL Finals. And, like, I've been, like, reflecting on that and just how special those moments actually are, because when you don't get them, yeah, that's how I've been kind of coping, honestly.
[00:39:41] Speaker C: I love that you said that, because that night when the Oilers lost, when I was sitting with my wife, I was like, man, I had to wait. I'm 28 years old. I had to wait my whole life to see the Blue Jays in a World Series. I had to wait my whole. Well, I was 8 years old when they went in 06, and then there was 20 years until they went back. It's like, man, I feel like The Oilers fans definitely got a little spoiled the last couple of years. Back to back trips to the Cup Final, like, that just doesn't happen. That might be like a once in a lifetime kind of run where you go on back to back runs like that. So I don't know. Super lucky that the last few years went the way they were. And again, hopefully a little rest and reset for this team and honestly for management and even I think the players like a little kick in the ass of like, hey, it's really hard to do this. Like, you can't just kick your feet up and say, I will be back next year. I think that could do them some good.
[00:40:27] Speaker A: Yeah. And who knows, with. With a bit of cap space and time, you know, you just cross your fingers and hope that there can be a little tinkering done here. If you, if you could only make one move, Tyler, this year with this team, you only could do one, one significant move, what. What would it be?
Oh, man.
[00:40:47] Speaker C: I mean, the one significant move. Like, it sounds low hanging fruit, but like, if you could go get a truly elite goalie, that would be great. And that would give them like, you look at Carolina getting a 956 from Frank Freddie Anderson, and you look around the league at these teams who get these strong goalie performances and it's like, yeah, they can kind of like sleepwalk their way through a round the way Carolina might sleepwalk their way through two rounds because they're just good structured at 5 on 5 and they have a goalie who's going to stop all the shots he's supposed to. So, like, I want to sit here and say goalie, but I also know, like, there's only five or six really high end goalies in the NHL. I don't know how realistic it is to go get one of them. Although Anderson is a free agent, but he's 36 years old and he battles injuries and all of that stuff. So I don't know if goalie is going to happen in Edmonton. As much as everybody wants it to and recognizes it as a need, I just think it's way easier said than done in today's NHL. So I'll go ahead and say a legit top six winger. I think Ryan Newton Hopkins, as much as we all love him, he's not a guy who can produce next to Connor McDavid anymore. I don't know if Kasperi Kapanen is coming back. Even if he does, I don't think I want him playing in my top six all year. He's more of like a moonlight guy who can come in and out. So you can go add one more 25 plus goal, 30 plus goal scorer who's in his 20s who you can staple next to one of Connor McDavid or Leon Dry Settle. Because a big part of this is proving to Connor and Leon that this team can contend for like not just next year, but the next three to five seasons. Okay, well, three years from now, Ryan Nugent Hopkins is going to be 35, 36 years old. So is Zach Hyman. Like you're not always going to be able to lean on those two. So I think the Podkolzen's help, the Savoys help. If you can add one more guy in his mid to late twenties who Conor and Leon can look at and go, oh, that guy's going to help us for the next four or five years, I think that would go a long ways.
[00:42:40] Speaker A: Mine is, is, is like, like team defense. Right. And so if you move Nugent Hopkins down the lineup, he's a super smart player, super responsible player, like your team defense improves as well. I don't think like going and getting a stud defenseman is, is the play, but just figuring out the defensive piece to the team just a. We can score, right? We can score just a little bit more of that, buy in on, on defense. So.
[00:43:03] Speaker C: Well, I think just to add to that, I think changing the coach would probably help a little bit in that regard and could maybe wake everyone up a little bit.
[00:43:10] Speaker B: Yeah.
[00:43:11] Speaker A: If you don't like. I understand the money involved here with, with Knobloch, but if you don't change the coach, I'm a little bit confused on what that message is. The players seemed a little bit frustrated throughout the year and even a little bit last year as well. Like when you're winning, a lot of stuff just kind of goes away. But yeah, and I like, I like Knobloch. I like his, his roots, where he's from and all that good stuff. He's a great guy. But I just, especially if there's a couple quality candidates out there and you're a team and win now mode, I don't, I don't know. It's okay to be ruthless, I guess, is what I'm trying to say.
[00:43:44] Speaker C: So I think it is too. And Knobloch has, you know, his extension hasn't even kicked in yet. He's got a three year, I think it's $3 million a year extension, but I think they're only going to do it to your point, if there's a quality candidate. Bruce Cassidy's out there. He's once a Stanley cup before. And I think the sell to Daryl Cates is, hey, I know it sucks you're going to pay Chris Knobloch, you know, $9 million over the next three years to not coach your hockey team because all those deals are fully guaranteed. But if you're bringing in a quality coach like Cassidy and you go, hey, we think this could result in us going on a deep run next year. Well, Daryl Cates is going to make back that money in half a playoff round if you go to another conference final. Right? So I think the sell is pretty easy. But I agree it's got to be a quality candidate. I'm not throwing out Chris Knobloch to go with another first timer or anything like that.
[00:44:28] Speaker A: So I've got a funny story for you. So I saw you a couple weeks ago at the, at the nation playoff draft. So of course your, your co host on on your everyday show ailers everyday show. He was on our, on our draft team. We, we paid big money to have Liam on our, our draft team. He was a great resource. But when you see him next, just ask him about our goalie pick because we picked like a third string goalie for Carolina. I, I don't know if we thought we were just masterminding this whole draft by like, you know, trying to like summon. I had never heard of Boosie ever in my entire life. And then someone throws the stats in front of the table and they're like, look at this guy. He got 30 wins. He's the starting goalie for the Carolina Hurricanes. I don't even know if he's putting pads on at night at these games. But that is our starting goalie man. Not Freddy Anderson who we got the backups, backup and I think Brandon Busey or something like that.
[00:45:20] Speaker C: Brandon Bussey, he was like the story of the NHL in the first half of the season because he came from nowhere. All of Carolina's goalies got hurt and this busy guy steps up and is like a 920 save percentage. He was unbelievable all year. But I will say, I mean Liam, God love him, I don't think he watches a lot outside of Edmonton. The first thing I did when I sat down with the table that bid for me is I was like, look at every team. If they have a two goalie system, don't touch them. Like you just can't run the risk of that being a zero. And Carolina like again, if Ottawa would have lit up Freddie Anderson once Brandon Bussey would have gotten the next start. Like, they were fully committed to doing a two goalie system. But you look at the Canes, they've played six playoff games. They've allowed like four or five on five goals. Like, they have no reason to switch their goal, you know.
[00:46:06] Speaker B: No, no, not at all.
[00:46:08] Speaker A: We're in the middle of the pack. And just so listeners know, there's eight. There was eight teams picking. There was a lot of goalies that we could have selected. So, anyway. All right, man, I do need to, I'm not, I, I, I don't want to offend you here. I'm, I'm gonna, I'm gonna do a stat correction for you on your show yesterday on, on Oilers Nation Radio. I caught it last night, and I don't want to be the fact checker guy, because if people fact check my show, I'm in trouble. All right, So I, but you guys were going over the last 10 Oilers to play in the World World cup, right?
[00:46:38] Speaker C: World Hockey Championships.
[00:46:39] Speaker A: World Hockey Championships. And Nick Schultz's name came up, and he wasn't part of the selection or anything like that, but somebody said on, on the crew there that, oh, yeah, he's from Minnesota. You guys are trying to find Canadian players for our, you know, Prairie listeners. Just to confirm here, Nick Schultz is from Strasbourg, Saskatchewan, a population of about 700 people. And he did spend his, you know, majority of his career in Minnesota, but he was also the captain of my beloved Prince Albert Raiders as I was growing up as a kid as well. So I had, I just had to throw it out there. Tyler. Nick Schultz is from Saskatchewan, and a couple of his brothers played pearl hockey as well. Not to that level. And then his cousin Jesse played a short cup of coffee in the, in the show as well.
[00:47:22] Speaker C: So, you know, there you go. You know who we can bury with this one? It was Liam who said he's from Minnesota, so we can.
[00:47:27] Speaker A: There we go. All right. There we go. Awesome.
All right, man. Wrapping up the NHL playoffs here. Are you surprised by anything right now? Like, obviously, Montreal knocks off Tampa, the Oilers are out, but with the last eight teams, like, is there anything you're looking at here saying, oh, wow, there's something special brewing.
[00:47:45] Speaker C: That Montreal Buffalo series is going to be awesome. And, like, just those two arenas are so much fun to watch, like, even on tv, like, getting the vibe of the arena is electric. And the fact that one of them is going to be going to the conference finals this year and I think is insane. Another thing to watch, Carolina, they're up to nothing on Philly. Their series started before Montreal, Tampa Bay, the first round series ended. So if Carolina sweeps Philadelphia, that series could end on Saturday the 8th or Saturday the 9th, whatever it is. And Montreal, Buffalo, if it goes seven games, it's not going to end until the 20th, which means two days after, that's the 22nd, maybe even the 23rd. There's a world where Carolina sweeps Philadelphia, which is looking very likely. And, and they have like two weeks off in the middle of the playoffs, which is absolutely insane. But Carolina seems to be waltzing their way to a conference final. And I think everyone's going to be probably rooting for one of Montreal or Buffalo just because for those two fan bases, it would be so electric.
But yeah, that's the one that stands out. Like, honestly, the rest of the second round series, Colorado's kind of giving it to Minnesota right now. I'd love to see Minnesota respond when it goes back to their home ice. Vegas, Anaheim doesn't do a ton for me. I really think Vegas is going to kind of flex their veteran muscles there. Carolina, like I said, is sleepwalking their way through this thing. But Montreal and Buffalo, that's the one that's going to go seven for me.
[00:49:02] Speaker A: Yeah, and whoever comes out of that just has that momentum and that excitement in those arenas as well. Like, like Carolina is going to have a shock when they roll into some of those, those stadiums, so.
All right, man, that's great stuff. Okay, so switching out of, out of the playoffs here. We have a NHL draft coming up in, I don't know, a couple months, I guess, maybe less than that. But what the heck happened last night with the first pick?
[00:49:29] Speaker C: I love it. I love chaos in the draft lottery. Like one, I think these insane results and Toronto wins it with a. What was it, 6.5% chance to. To go first of all. Eight and a half. Oh yeah. Eight and a half percent chance of picking first overall and they win it, which is 3% less than the Oilers had when they won the lottery for, for Connor McDavid. But they go from fifth to first. The crazy part about this is Toronto traded their first round pick last year to the Boston Bruins and they top five protected it. So there was a chance going into the lottery. I think there was like a 28% chance that they stayed in the top five and like a 72% chance and it would be that they fell and would have had to forfeit their pick. It is insane that they went from potentially having to forfeit their pick to Boston to picking first overall.
I think it's great. I think Gavin McKenna in Toronto is going to be like, really exciting. I like when the hot big name prospects go to these big markets. So as much as I'm not a Leafs fan or a Toronto guy outside of, again, my Blue Jays, I think this is cool and good for the NHL. San Jose slides up seven spots from ninth to second overall. So the rich get richer there. Not only you have Celebrini and Smith and Dickinson and all these guys, they've picked Misa, they picked second overall last year. They're going to get another high end forward added into that mix in San Jose, which is maybe not good news if you're a team like the Oilers, who's aging a bit in the Pacific Division, and this Sharks team is just going to be a wagon. So I do think, and I have a call in in an hour with our daily Face off draft analyst Stephen Ellis. But I think the falloff in this draft, it's kind of like, hey, 1, 2, 3 and 4, really good. Then there's a bit of a fall and then we get to 5, 6, 7, 8, and there's another gap there. So, I mean, I guess you could say maybe a loser of this draft lottery is Calgary, who goes from four to six and it's like you might miss on like the real elite pieces in this draft by falling to four to six. But for Toronto, they've missed the playoffs twice, I think, in the last 11 years and they've won the draft lottery both times. Insane.
[00:51:25] Speaker A: Wow. Wow. That's nuts. Wow. And with everything going on in Toronto this week, the dumpster fire that was there earlier, was that, what, Monday or like Monday? This is quite the turnaround for them. Is Gavin McKenna, is he still like the number one? Like bonafide, like, that's the guy.
[00:51:43] Speaker C: I think the gaps closed a little bit. Ivar Stemberg is a Swedish kid who's probably going to go second overall, but there's a lot of people who are looking at him going, hey, he might actually be the best player in this draft. So again, I think there's like kind of a motion 1, 2, 3 and 4 where it's like, yeah, these are all really, really quality young players, but I just think there's no way Toronto passes up on a high end offensive winger like Gavin McKenna. Especially when you hear all the reports and they came out this week of like, hey, if the Leafs don't do something in the next, you know, two months, Auston Matthews could very easily raise his hand and say, I didn't sign up for a rebuild. Like, get me out of here. The fact that you could now have McKenna and you can go to Auston Matthews and say, look, here is your winger for the next decade. I think that does a lot for that organization.
[00:52:26] Speaker A: Yeah, yeah, you bet. I'm excited for Leafs fans as well, and I know the ones listening will be are certainly excited for the draft here. Blue Jays wise, the team's picked it up a little bit lately. I know. I think they lost last night. But trending in the right direction, I
[00:52:41] Speaker C: mean, it's honestly kind of funny. The. The American League as a whole is almost a little bit like the Pacific Division in. In the NHL. You look right now, there are one, two, three of the 15 teams in the American League are above.500. The leader of the AL Central is 18 and 19 this year. So, like, it's disappointing. The Jays are 16 and 20. They're nine games back of the Yankees already. Like, you know, winning a second straight division was always going to be a tough task with how competitive the AL east is. But the saving grace for the Blue Jays is going to be the fact that they're one game back of a wild card spot. Even though they're 16 and 20 in four games under.500, they're pacing right around where they were last year. Then they turned on the jets in the summer. So I'm not overly concerned. They've been incredibly banged up. George Springer, their leadoff guy, he's missed I think about a month or three weeks of the season now with a fractured toe. Alejandro Kirk, consistent bat, their number one catcher, he's missed now over a month with a broken finger. You haven't really seen Treus Savage. He's pitched now twice this year, but he was out for the first bit. Shane Bieber's out. Addison Barger, power bat, young guy who we were hoping would take a step into being a star this year. He's been out because he rolled both his ankles on the same play.
Everything's just kind of been biting them in the ass injury wise. But they're starting to get healthy. Springer's back. His. Savage is back. I think Barger could be back this weekend. So once they get Kirk back, I kind of look for this team to start going on a bit of a run.
[00:54:04] Speaker A: Yeah, you never know, right? When the injuries smarten up, they have a great lineup, so they just have to put it together and they have lots of time yet. So good stuff.
[00:54:11] Speaker C: It's baseball. Yeah, we're like, if you did. Where we are right now, they're 36 games into the season.
That's the equivalent of being at like the 19 game mark of an NHL season or like the three game mark of an NFL season. Like, they have so much time.
[00:54:23] Speaker A: Yeah, you bet. Did you guys do a trip, a Blue Jays trip last year?
[00:54:27] Speaker C: I might have been like three or four years ago, and that was a long time ago, but it was a lot of fun. It was where they renovated the stadium, actually.
[00:54:34] Speaker A: Okay. Yeah, well, you could tell the brass you have more time this, this spring and summer, so you can. They can work on something there. But yeah, man, travel is not cheap. That's for sure. But. All right, man, well, thanks for joining and sticking around a little longer here for this one. Appreciate all your insights and we'll check in one more time before we let you go for the summer.
[00:54:54] Speaker C: All right, Sounds good to you?
[00:54:58] Speaker A: Oh, well, those Toronto Maple Leafs with that number one pick. There we go. Leafs fans rejoice now. All right, folks, for eating your veggies here for episode one 21.
Number one, I like. I like tractor cab math. I really do. You know, maybe I think just trying to write more numbers down, taking some of the emotion out of the decisions. I really like that right now. It may seem very, very simple.
It may seem kind of silly, but yeah, I like doing that. All right, so for eating your veggies, I like that. Writing that down.
Number two, again, this is probably area specific, but just having. I'd call it a risk meeting.
But, you know, even if you don't want to consider or you don't have to consider growing conditions, maybe your growing conditions are phenomenal, it could still be a risk meeting about, okay, this is where prices are at now. This is where our margins are. Revenue, you know, this is what it looks like. How are we comfortable with this? How are we comfortable with this? Price risk. You could have a price risk meeting. We had a risk meeting on our farm, just reviewing acres that may not be planted. Crop rotation. We had to have a discussion about insurance. Crop insurance. Just reached out to our partners there just to check in on some dates and deadlines and a few key things. Wanted to make sure that we weren't caught offside. We also brought in our retail partners and just went over some logistics. Our farm is basically kind of on an island right now. And so main farmyard with your fertilizer storage, liquid fertilizer storage, all in one spot with roads washed out all around you.
Just trying to figure out, okay, how can we get seeding here. And, and we're waiting for roads to get fixed. The water has to stop or slow down significantly for them to fix the roads. That ain't happening anytime soon. And so just trying to, to figure that out. We talked about reducing acres, reducing yield a little bit because we're getting pushed back in our ideal seeding window, planting window, and so pulled yield back just a little bit here as well. Nothing crazy, but just acknowledging that hey, we are moving some acres into less ideal timing and, and also crop mix as well. Just making tweaks. If this gets pushed into June, how far into June, what are we doing differently? All right, so that was our risk meeting here this week. So that's number two for eating your veggies. Number three, execution practice. I wrote gaming it, mathing it out, but kind of pretend on what you would do. Go through the examples on what you will do here. If the market goes up from now or if it goes down from now, what are you going to do? What strategies can you practice? I don't know if you have time here, maybe use the other window in the tractor cabinet and write out your examples on if this market goes up. This is how I'm securing this price. Or if I think this market is going down, this is how I'm going to, you know, participate in risk management. Just like practicing practice makes perfect. You might not be actually executing the strategy of the put option or the call option or the whatever. Add your favorite strategy into the mix, but just kind of practice them as well. All right. And then in the crop marketing handbook, if we want some bonus ones for this week, checking prices for the fall of 2027, you could check them. Maybe there's something to do that they're on wheat, but canola's. You'll see it. Review targets against your margin goals. We talked about that this episode. Yeah. Planting progress. Review your yield goals versus actual, actual conditions. Some of you aren't in that spot quite yet. So yeah, that's. That's it out of the the handbook. All right, all right, so here we go. We're getting close to the end. What the futures playlist. So I've been doing this for. I think there's maybe a 2020 on YouTube. Music. Definitely a 2021. But you can go and find my spring, my planting playlists. They should all be different, I would think. I didn't really look, but I make a new one every year. There's probably five or six of them. So this is Plant 26. So what the future's plant hashtag Plant 26, my song of the week. You should start every morning with this one while you're planting crops. Joker and the Thief by Wolf Mother. That is a banger. That'll get you woken up for a full day of planting crops. All right, now there is some explicit music on this list, so just be aware if you've got kids. And there is a motivational speech in there as well for Monday, Monday mornings. All right, so check that out. All right guys, well, thanks again here getting the rust off. I. I do have, if you want to receive update for free, an update of the futures, Canola futures, wheat futures, bean oil, corn, soybeans, all of them. I send those out three times a day to the Lunchbox crew, but I've also secured that for what the futures listeners. If you want to receive this, I think it's two updates a day actually, but where the markets are trading, once in the morning and then once at the close.
Let me know. Ryanothefutures Podcast Ca you say, Ryan, I wanna be on that text list. It's easy to join. I'll send you the details on how to join that. I do have a limit, probably limited to 40 or 50 people, so we'll do first come, first serve. Yeah, if you're just looking for a futures update, I've got a few few extra spots I can, I can use up here and happy to get you set up. So it's yeah, canola, soybeans, wheats, three different, two different classes of wheat, corn, Canadian dollar, West Texas oil. It just says 9:00am Canola up three bucks a ton, trading at 7:52.
Yeah, nice and easy. All right folks, thanks for hanging out. Send in your thoughts, questions, comments or what you'd like to see on a future episode. If you found this one useful, tell a friend, a neighbor, that's how this thing grows. So I certainly appreciate you doing that.
Of course, prices, strategy, all that can change by the time you listen to the show.
So that's it. Have a great weekend. Stay safe out there. Planting crops and all the best here as we kick off.
Yeah, plant plant 26 for the what the futures podcast. My name is Ryan and I am out of here.
