Episode Transcript
[00:00:00] Speaker A: Well, folks, we have us corn making a big impact here into southern Alberta, the southern prairies, Feedlot alley corn coming in in large waves. Once again, we've got reports of less cattle to be fed this summer. And that all boils down into a potential impact here in your at least your old crop barley markets. But that trend's changing. I've got David Lee with Marketplace Commodities. We're going to break it all down for you here in episode 76 of what the Futures Podcast. So let's get into it.
Hey, folks, welcome to the what the Futures Podcast, your quick guide to better farming decisions.
All right, folks, welcome into episode 76 of the what the Future. Cast, of course, recorded each and every week in the UPL studio. And while we're talking about upl, I'm going to just plug egg in motion here because I'm so excited we've been on things in the background. I'm going to be at the UPL booth both Tuesday and Wednesday, bright and early. That's right, Ed. If you're rolling into the show at 7:30 again like last year, I will be in the UPL booth, get my T shirts ready to sling out there. We've got a very cool T shirt design we just finalized here. We've got a couple other fun things that we're doing. And of course we're going to have our special edition hats. What? The futures hats. They're not going to last long. You're going to get those by donation. So come say hi. I know it's a couple months away yet, but I'm just jacked for it. We're going to get to David Lee from Marketplace Commodities here in just a moment. He's been a busy guy here lately, but finally got connected this week on the show. And we're going to talk about some of the watch outs here. For those of you holding back some old crop feed grains, there's a couple things that are a little bit, you know, a little bit. Well, I just say you want to be cautious around it. I know prairie dryness is definitely increasing intention and awareness and tension there. But it's something that you want to want to check out because there's a couple of things here that are, I want to say, wow, fact factors, but almost like, yeah, we got to know this stuff because it could have a big impact on price direction. Now this has been a fun week recording. I split it up over two days this week. And so on the one day the Canola market is still hanging in quite well, making a new High and then pulling off those highs. And then this morning I go to finish up recording and Canola is currently down 17 a ton. All right. And I read last night, you know, rvo giveth and it taketh away. So what that basically means. And of course, who knows by the time you listen to this darn thing. But there's potentially, you know, we went up because Bean Oil was cruising, lots of things happening, tight supply for canola, Prairie dryness, that's all contributing. But you know, we had some update that, you know, Canadian Canola would qualify for the tax credit for the, in the US biofuel policy. 45z. Everything was kind of brought to light here again this week. And Susan Stroud sent me a note and said, hey, you know, check this out for Canola. Kind of like a fist pump on, on a bit of a rally here. And we saw that and now we have this pullback of 17 bucks a ton. Now, you know, I, I sit here and from a cautious perspective, you know, if you got a little bit of old crop left to sell, you know, you, it's over $700 on futures here. If you don't want to ride this, whatever this low is going to be, could be short lived, who knows. But it's, it's, you know, certainly something where, you know, you could look at making that sale and then just moving your risk over to that maybe a call option premium instead. You know, maybe you sit there and say, hey, Prairie dryness is a concern in my backyard. Long range forecast is something I'm not appreciating right now. It's, it looks a little bit challenging from a dryness perspective. I still want to be bullish. You can you just move over a percentage of that risk instead of the whole thing, buy that call option and you know, participate in, in that side market goes up, rallies that call, increases in value and that's where your upside comes from. If for some reason another story comes out or something compounds onto this negativity, well, you got it sold and you, you don't have to worry about it as much. All right, so something to think about here in this market. The other couple things here, the wheat market's a, you know, it's in the green here. As of recording, it's up a few pennies here and there. Kansas Wheat's trying to show something here. Minneapolis spring wheat up 3 cents as well. All I'm doing here is still trying to buy some time because if you, you know, if you're sitting here looking at the forecast and I I say it in the episode, but, you know, the weather now has, has entered, you know, my crop marketing plan.
And you know, maybe that sounds a little weird to say that out loud, but weather is always involved in the crop marketing plan. It, it usually provides opportunity. So I, of course, you know, partner on our farm for Weather's BAM WX and partner of the podcast. And you know, they always, you know, back in March and April they were, they just kept talking about the back half of May having precipitation events. And I know not all of you are receiving that. I know that even as of recording, there's quite a bit of action on the radar. But like Lethbridge to Prince Albert, there's a corridor there traveling to the northeast that again, as of recording wasn't getting in much of anything this morning. There is a dryness concern there and so there's precipitation events happening and that's fantastic to see. And we, you know, we cross our fingers for more, but the long range forecast is noteworthy. It is a forecast that brings in some heat and some dryness for June and weather, long term weather forecasting, long range forecasting, I don't put a lot of stock into that, but yet it is involved and included in, in the crop marketing plan. And you look at it and say, well, if this research is pointing to this, I need to acknowledge that and have that, you know, as part of my thought process here for, for crop marketing. Because if it comes to fruition where we do get a tough growing season with dry conditions, you look back and say, well, I saw that back in April or May and you know, I didn't do anything about it. So, so I sit here with the wheat market thinking we got to find some support, number one, we got to find a reason to rally, number two. And we're patiently waiting for that. Now I talk about, you know, whether entering my crop marketing plan and just to confirm here, just so you hear this from me, that that doesn't mean that I stop crop marketing. Okay? It's, it's entered the, the conversation, it's entered my, my process. But all it does for me is it just forces me and forces you as well, hopefully to go and, you know, break open that toolbox and just, yeah, get a sense on how you can, you know, grab some of what could be some high margin, higher margin opportunities, but also not expose yourself to, to buyouts or to painful conversations for exiting contracts. You can sit here and continue to market your crops, your hedgeable crops specifically, but just open up that toolbox to say, all right, you know, I see canola here is new crop. Canola is, let's say it's approaching 700 bucks a ton. I, you know, I can't afford to not do anything here. Well, instead of phoning a line company and making a contract, you might say, you know what, I'm, I'm going to just sell in my, in my futures account. I'm just going to sell some futures over there or, you know, I'm going to look at, you know, put option strategy or, or maybe I'm going to go look at one of these fancy strategies where, you know, I can build an average price between, you know, May 15 and September 15, like a contract like that, where it's selling a little bit every day. I believe that will be a bit more manageable from, from a contract perspective as well. So there's different things out there that you can look at. The other thing too here is I just saw, you know, for this week, a little bit of a spike in new crop flax prices. You know, a meaningful jump, like a couple dollars a bushel increase in new crop flax prices. A number that basically said, hey, you know, this, this is very, very strong profitability wise. And of course it has an act of God on it. So you take advantage of that price jump and still protect yourself with, with an act of God. And so some of the specialty crops as well. Before we get to David here, we'll get to him in just, just a second. I did want to highlight a couple things. We are seeing, you know, new crop, pea prices, yellow peas up, I would call it about 50 cents this week. We're seeing lots of nines as kind of the, the baseline, maybe high eights for southeast Saskatchewan, but, you know, a lot of nine in there now and higher for new crop yellow peas and then green peas. You know, they didn't fall off a cliff like maples, but now we're starting to see something in that, the mid 14 to 15 again on green peas. So maybe there's a little demand happening. A couple different bids out there coming in now. You know, I still think prairie dryness is something we need to keep an eye on. But as the lunchbox crew has reminded me a few times, they have not lost a crop in May, and I strongly believe that as well. It lost them in June before, in July and August, definitely, but in May we're not quite there and it is only May 15, folks. So there you go. Okay, let's get into it now with David Lee from Marketplace Commodities. I've also got Colin Cameron from Winfield United joining me this week on the show. And you know, stay tuned for eating your veggies. I've got a few things there. I've got some questions that came in that I want to shed some light on here as well this week. And then, of course, we'll wrap it up. We'll see if we can do something fun at the end of the episode here, maybe figure out a little prize pack for those dedicated listeners that hang out all the way the end. Of course, if you get a chance, subscribe on the YouTube channel. We got 300 and some subscribers now would like to get that number to 500 between now and the end of summer. So go and subscribe on YouTube. I certainly appreciate you doing that for me.
All right, folks, I've got David Lee with Marketplace Commodities joining me once again here on the what the Futures podcast. David, it's, it's been a minute man, but how you doing over there?
[00:10:23] Speaker B: Oh, thanks, Ryan. Doing well over here in, in Lethbridge, you know, just rolling along, getting into, getting into spring now, which is nice and I guess. What are we midway through spring now? Little, little more than.
[00:10:36] Speaker A: Yeah. So pretty much. Yeah.
[00:10:38] Speaker B: I can't remember what crop week it is so far here, but we're moving along.
[00:10:44] Speaker A: Yeah. Don't ask me. All I know is that planting is going quite well for many and it's not that it's wrapping up, but it's getting close to wrapping up here. Yeah. Yeah. Yeah.
[00:10:56] Speaker B: Down here in our area, a lot of guys are, are wrapped up now like anyone in the south, out on the reserve all the way over into the east grassy lake, those areas and quite north. Yeah, a lot of guys are pretty wrapped up and irrigating in May.
[00:11:12] Speaker A: So is that probably not what you'd like to see? Right. You probably don't see much of that in May. Is, is this a bit of a little abnormal then?
[00:11:22] Speaker B: May 4th we hit 30 degrees, saw a 30 degrees register on my car dial. It said 27 on the news forecast. And yeah, no, that's quite unusual. And, and it's not just been one day either. It's been quite, you know, it has affected the emerging winter wheat. It's been fairly stunted. The lawns are even really having they've had up till this week they had trouble turning green. Now they're green. This week we have had spotty rain.
Some areas have got nothing. Some areas have got about 2, 10.
Some have got, some have got a quarter inch. The most I've heard is a half inch so far now, I don't know if you can see out the window behind me here, but we do have rain clouds today here. It looks to me like probably maybe 50, 60% chance right now. And interestingly, the 50, 60% chance means that they take an area and that if you take a spot in that area, it means there's a 50 or 60% chance it'll get hit in that area. So when you look out. Yeah, I would say it's maybe 50, 50, 60%.
[00:12:35] Speaker A: It's supposed to build, but I haven't looked at the radar this afternoon. But I'm just looking at the last seven days precip and basically it looks like Calgary north of you there. Calgary, Just south of Calgary got a little more action. Yeah. But I don't know what town that would be. I don't know if it'll.
[00:12:54] Speaker B: Yeah, you get down through Vulcan in there.
They were the ones that probably had a little closer to a half inch. So.
[00:13:01] Speaker A: Yeah. And then there's a, there's a corridor that travels north east.
[00:13:06] Speaker B: Yeah.
[00:13:07] Speaker A: Which also goes and loops in my farm as well, all the way south of Prince Albert and all within that corridor on this last event, you know, Saskatoon would be in there.
[00:13:19] Speaker B: Yeah.
[00:13:20] Speaker A: You've got. Eston's in there. You know, Swift would be in here as well. But there's a whole huge area there that just hasn't seen much this, this week we had that, you know, Edmonton. And then west of Edmonton, the trees are getting lots of rain. Not, Not. Okay. There's. There's farmland over there as well. I know if Dan's listening to the podcast west of Edmonton, he farms over there. Don't get me wrong. All right. And the trees got a bunch of moisture. And then around here to the north.
[00:13:47] Speaker B: Yeah.
[00:13:47] Speaker A: East of me as well. I call it like, you know, vermilion area. So anyway, well, I, you know, I'm not a weather guy, but the, the long range forecast has. All I'll say right now is that it. It's starting to have an influence on my crop marketing plan. Oh, okay. And in the sense that I look at the long range and I'm just noticing, you know, very warm and dry for a very large area. And it's just not saying that's what's going to happen, but it just, it's starting to be. It's involved in the crop marketing plan now a little bit. Instead of sort of maybe a deferred delivery contract for fall, I'm now, you know, maybe I'll do a put option instead or something. Or if I know is what's the act of God looking like over there or.
[00:14:32] Speaker B: Yeah.
[00:14:33] Speaker A: Do I have to phone the people over at a guy three on forward protect? Like, I'm just. It's all, it's all evolving.
[00:14:38] Speaker B: All right. Yeah. It's not like you to get nervous, Ryan, so.
[00:14:42] Speaker A: Well, I'm not. Well, I don't know if I'm nervous yet, but it's just, It's. It's there. All right.
[00:14:48] Speaker B: It's there. Yeah. It's.
[00:14:49] Speaker A: Yeah.
[00:14:50] Speaker B: No one wants to talk about it, but it's there. So.
[00:14:53] Speaker A: Yeah. Yeah, I'm, I'm an optimist, David, so I will remain optimistic. I know you are on precipitation, but. Yeah, yeah. So last time you were on the show, it was like tariffs weren't really impacting many.
It might be in the last summer, the time before that. But you were doing a deal, a Durham deal at the time.
Kind of went up in smoke here because of tariff stuff. Where, where does that sit today? How is the tariff situation impacting grain movement?
[00:15:22] Speaker B: It's a good question. Like, honestly, it's a. It's a strange world that we're living in right now.
So, for example, like, right at the moment, I can, I can actually ship grain to the US tariff free. But like wheat and barley coming back are tariffed into Canada and then corn coming up is not tariffed. So. And that's caused us a little bit of trouble with this with the Canadian dollar. With the Canadian dollar high and corn having dropped back to the low values, I'm again seeing a lot of corn trading here in Lethbridge, which.
That along with.
I know it's not a popular thing to say, but the May long weekend usually denotes the high in the market.
[00:16:12] Speaker A: Right.
[00:16:12] Speaker B: So your main long weekend is usually, I mean, you get into these droughts and over the last few years it has stayed a little higher. But usually after your May long weekend, the market tends to drop into new crop. And we're kind of seeing that right now. Like, we saw barley maybe hit a high of 320.
Today. It's probably 310 to 315 for like, for nearby. If you go out to July or August, it's probably more like 300 to 305. And so it's just kind of. It's just kind of come over the hump a little bit. And I think that that corn market has something to do with that.
[00:16:49] Speaker A: Are we talking like volume? Like, are we talking like there's action there or it's just the odd.
[00:16:55] Speaker B: No, it's, it's quite a bit of volume and it's, it's into new crop as well. Like it's trading about $290 a ton fob. So that lands into feedlots at around 300. So you compare barley at 310, 315. You know, you're quite a bit over on, on the barley here.
So now new crop barley has, has kind of tapered down and it's more now around 2 9285, 290 today. I think I can pay like a 287 or 288 delivered Lethbridge today is kind of the thing for like Oknov.
I did a little there yesterday, so.
[00:17:35] Speaker A: Yeah. Yeah. And of course prices are subject to change by the time.
[00:17:39] Speaker B: Yeah. Back to the tariff thing that you were asking about. So it's, it's a strange thing. You would have almost thought, well, why, why didn't they tariff the corn from coming in here? Right. Because that would actually have a bit of in it. So the, the way Canada has their tariff structured, you know, we've, we've, we've almost become the aggressor in the tariff war here in Canada. From that standpoint, it's a, it's a strange turn of events really.
[00:18:04] Speaker A: Yeah.
[00:18:04] Speaker B: But yet we're letting through the corn, which hurts our, in my opinion, hurts our farmer so. Well, yeah, I don't understand that.
[00:18:12] Speaker A: Yeah, well, the east has not paid much attention to the farmers in the west here.
[00:18:17] Speaker B: Late least. No.
Well, yeah, there you go.
[00:18:20] Speaker A: Yeah. So corn's coming up and that's gonna, that's having an impact value slipping a little bit. And I'll just highlight here against the topic nobody wants to talk about, but against dry conditions.
Like.
[00:18:32] Speaker B: Against dry conditions. Yeah.
[00:18:34] Speaker A: Right. Like, you know, usually that'll. If it's going to support the market past the May long weekend, it's because of dryness usually. So.
[00:18:42] Speaker B: And against, and against a low barley carryout. I can't, I can't remember the numbers when I went over them, but we, you know, we're at a really low barley carryout as well too. So. Yeah, it's, it's, it's not something for me where the numbers really add up for what we're seeing exactly. Except for that corn still able to make its way in here at cheaper value. So.
[00:19:05] Speaker A: Yeah. Okay.
[00:19:06] Speaker B: You're looking for the culprit. That's the culprit. I think so.
[00:19:10] Speaker A: Anything else? Volume, kind of moving between the, across the borders. Right. Now.
[00:19:17] Speaker B: Not a lot.
Like I say, it's very difficult. Like, you know, I can't bring barley even that's been purchased up here. The companies down there are kind of aware of it. So you can't bring anything up here. There are some small amounts that are going south. Like, like we mentioned my Durham trade. I have done a little bit more Durham to go down there, but I have to kind of do it with a clause that if there is a tariff put on, essentially the contract becomes null and void on both sides.
[00:19:48] Speaker A: Right.
[00:19:48] Speaker B: And there's some end users down there that will do that. There's some that won't. They, they, you know, they can't run a business that way. So. Yeah, but I think on the other hand, it's, it's a little tricky to, to just find Durham just anywhere. Right. So yeah, so some of them, they take the risk and will sometimes pound quite a bit down there while we can. And then the tariff thing comes up, everyone's on the edge of their seat. Like back on April 4, everyone was like, oh boy, here we go again. And then they paused it. So it's definitely affected trade. Like just the threat of the tariff affects the trade regardless if there's one in place or not.
[00:20:29] Speaker A: I heard in other industries too, where they'd see not grain, but things stockpile at the border and then pause or an exemption or whatever, everything would go across real quick and then you'd see it build up again as tensions were climbing. So, yeah, not, not efficient way. That costs money doing things like that cost money. So.
[00:20:49] Speaker B: Yeah, it really does.
[00:20:50] Speaker A: Yeah. All right, so we've had a heck of a week on the farm here, getting things sorted out with a troublesome machine. And, you know, I know that, you know, going through the buying process of a piece of equipment, you know, parts and service, it's top of mind. And you realize that if you don't think about that during the process, you realize that, you know, shortly after. And so this, this week for us was a perfect, you know, kind of example of that. And I'm not trying to throw shade at anybody this week, but you know, where we bought our piece of equipment, a brand new piece of equipment, a seating tool, that dealership, they didn't prioritize, they must not sell many of them because they don't prioritize their tech department, their team, their technicians, the service people, the parts people to go to that training and get up to speed on, on how to problem solve problem, you know, shoot and, and fix this stuff. So we had A machine that, you know, is basically in its second crop. You always have that first year where you get through, you know, learning the machine, getting the kinks out. Everybody talks about it. When you buy something new, you get that figured out and it takes a season to do that. And, and this year we, we ran into even more problems, even more challenges I should say, and reached out to many different resources to try to get a solution, a very solution. Something that resulted in, you know, the machine being down multiple days when you string it all together. Machine that would work for, you know, an hour and then not work after that resulted in a, you know, an eight hour journey to southern Saskatchewan. Trying to troubleshoot some monitors, you know, took someone a whole day to go through that. And you know, even in that process, guys, even in that process, you know, I remember from that long ago, but texting my brother's one who did the drive, you know, he's the one who's also getting home at one or two o' clock in the morning from that. So he's on the road, tired. It's already a big stretch. You know, it's a big event planting your crop and I just think about, you know, fatigue and what can happen in those situations. And anyways, after all this, our JD Tech, our John Deere technicians, they came out not their tool to fix, not their machine to problem solve, but they came out and basically they stayed and got it figured out, came out to the farm multiple times and you know, they didn't kind of, they didn't quit until we were able to get going and get that machine going. It wasn't on them. Right. You know, we have a great relationship with our dealership. We, if anyone knows our farm, we, we run very green. You know, we're a very strong John Deere operation and you know, I just think back though to the whole transaction and, and how parts and service play such a key part. And here once again, our service department doing a bang up job out of our local dealership, John Deere dealership, to get us up and running, when to be honest, it wasn't really on them. They're part of it. Our, you know, our John Deere tractor, they were out there seeing, is there something there? It was nothing to do with that, but they were there just trying to do their part and got us going again. So took a bit of that stress off the farm and such an important, important part of, of the transactions out there. So big shout out to those guys and a big shout out to our John Deere support team.
Okay, so let's switch gears now to cattle. You know, you're in Feedlot Alley there. You're, you're in the, in the action talking to lots of these big cattle operations down there. What's, what's going on on the cattle side?
[00:24:24] Speaker B: It's, it's pretty big news actually. Like there were a lot of cattle that Shipp replaced some. But we're, we're seeing numbers. And the guys that I'm talking to are talking about quite a cattle shortage starting probably late June, July and August and then, and then hopefully start bringing them back in September. So again I, I would say that we're looking at from a demand side, a little bit of cooling there happening as well. Yeah, yeah, it could be fairly significant.
I'm hearing it more than I've heard in other years. So.
[00:25:02] Speaker A: So a case of, you know, where there's, there's smoke, there's fire type thing or you know, you're.
[00:25:10] Speaker B: Yeah, it's. No, the numbers are in. Like they're already in now.
Like they're just not. They're, they're. Once they start shipping this, these ones out here, they're, it's going to be a, it's going to be a smaller amount over the summer here for sure. So that doesn't necessarily mean price goes down. I don't want to confuse those two things because, you know, if you have a low carry out on barley, you have a low amount of cattle in. It all comes down to supply and demand. So I'm, I'm not not forecasting anything with that. So.
[00:25:44] Speaker A: Well, I think, you know, what we talked about so far, I, I think the concerns that stand out to me are, are corn coming north as, as one on the negative side on the bearish side of price. But then also, you know, the dryness on the bullish side, the dryness on, you know, how does it look in, in two weeks time when we, you know, move the calendar to June 1st? Man. Like the grass, it needs, it needs something here too. Like it's, you're talking about irrigating in May. Nobody likes having to feed. It doesn't make sense to be feeding during this time as well. So. No, but we'll get, we'll be optimistic.
Okay. So I want to turn to something that's been a little bit more of a pleasant surpr surprise here the last number of weeks. And maybe the, we're starting to lose a bit of the shine on this market as well. But in one sense, you know, the gradable number one wheat Hard red spring wheat. You know, the sad thing is that feed values are in many areas the leading, the leading price getter.
And so to me that was in some cases a pleasant surprise to get some offers as high as they were. But I also know that when that happens, it doesn't last very long because there's just that much more available. So supply, if that's the case. So where are we at right now on. On the. The feed wheat market?
Is it to start to lose a bit of that shine? It.
[00:27:09] Speaker B: It is a little bit like. And you're right, even to start the week here, I was desperately looking for feed weed. It's. It's kind of gotten a bit more coverage this week, I would say.
[00:27:21] Speaker A: Yep.
[00:27:21] Speaker B: You know, I was probably seeing it trade anywhere from maybe 320, 330 a ton, just depending where. Where a guy was. Maybe you know, possibly been a little higher today. It's probably more like a 3 14, 315 lethbridge. These are per ton. I'm not sure what that is per bushel. But you know, more up in your area, I would say like the soft wheats and wheats up there into Lloyd and those places off farm, you're probably looking at maybe around $8, $815 a bushel, something like that picked up right now. So they're, they're pretty decent values as well.
[00:27:58] Speaker A: Yeah.
[00:27:59] Speaker B: But yeah, it's been quite the theme where I'll admit that it's hung on longer than I thought when I first saw the feed market trading at par with the milling market. That's usually a real big sign to, to sell that. Like as a grain company we, we sell that quite heavily.
[00:28:16] Speaker A: Yeah.
[00:28:17] Speaker B: But we, I mean we like to see a little bit of buying happen before we, before we get going too much on it.
[00:28:24] Speaker A: Yeah.
[00:28:24] Speaker B: And we just really didn't see a lot of it. Like even at this point I'm. I'm probably more even, but maybe even still a little net short compared to where I, where I like to be at this point. I would, I would like to see the coverage a little better. So.
[00:28:38] Speaker A: Yeah.
As people wrap up planting and spring work though, then the phone usually starts to ring too, especially if there's moisture events. Right. So you might just.
[00:28:47] Speaker B: That's right.
[00:28:48] Speaker A: Which. Right on the custom.
[00:28:48] Speaker B: Which we're starting. Yeah. Which we're getting to that point now. That's. That's right.
[00:28:53] Speaker A: Yeah. Because.
[00:28:53] Speaker B: Yeah, that's a great point. Actually.
[00:28:55] Speaker A: The next phone call is ABC line company is going to call you up whatever one and Be like, hey, we got a pile of volume here to move for you. Oh yeah, you know that, that phone call is not that far away either.
[00:29:08] Speaker B: Yeah, yeah, yeah. There's just so much more, like in terms of volume grown on the prairies, there's just so much more we wheat than barley. Right. So if that wheat can start making its way into the feed market. The feed market, probably it can't stay high for, for very long. Like it's eventually going to get saturated unless there's some world event that again pops the export price of wheat back up. But if guys have to move wheat and you've only got the feed market, it doesn't take very long for that wheat, you know, to overtake the market really.
[00:29:43] Speaker A: So, yeah, usually it's kind of short and short and sweet when it happens because some of these wheat deals too that occur at this time of year are, you know, to see an old crop wheat deal from a farm to a buyer of 800 tons, a thousand tons, 2,000 tons like that I can happen. Whereas, you know, I don't know, the barley, it seems to be three or four or six loads type thing. So.
[00:30:06] Speaker B: Yeah, exactly.
Just kind of your last, last, last couple loads in the bin.
[00:30:12] Speaker A: Yep, yep. All right. Did you get any indication here from your discussion with, with the industry and with farmers, like, you know, seeding plans, like, did anything kind of surprise you at all when it, when it kind of shook out or was it standard?
[00:30:28] Speaker B: Yeah, from, from what I've heard so far, there was initially going to be more barley going in when Canola took that huge, that huge jump off the cliff.
But now with canola having really rallied back up here quite strongly. I mean, it's had the odd down day here, but compared to the amount of updates it's had, a lot of guys were able to switch back in and, and go back into their canola and it's continued to just go here too. So.
[00:30:57] Speaker A: Yep.
[00:30:58] Speaker B: I think from what I've heard, most guys are about even with their crop rotation, there might be slightly more barley that went in just because guys couldn't switch out of it it at that point. But I think the rotation is going to be, from what I've heard, guys are sticking with a pretty regular rotation again here, one that they've seen the last few years in the face of a bit of dryness, you know, quite a bit of wheat, quite a bit of canola, some barley, you know, up north, a bit more oats and that sort of thing. Yeah, I, I haven't heard any Major, major shifts this year myself on that. So.
[00:31:32] Speaker A: Yeah, I think once you kind of get a rotation, most farmers I chat with it like it's still make some little tweaks here and there and it does add up when a bunch of people do some of this stuff. But yeah, yeah, we'll see. I think a little less peas. I think that'll be a. Yeah, that comes.
[00:31:49] Speaker B: That is true. Little less peas. Yeah. And probably I don't know what you were seeing, but I was hearing a little more, a little more barley go in instead of the peas. So.
[00:31:57] Speaker A: Well, and you know, like new crop barley and new crop wheat values in my region. Barley is the one that's paying the bills sales here. Like it's actually at a profitable position. Whereas wheat has not found any stability here since you know, we had a run up in February, we had a little run up in March and, and that's. That's it. Right. So.
[00:32:20] Speaker B: Right.
[00:32:20] Speaker A: You know the, okay. You scan new crop wheat values across the prairies and it's a tough look. It's a tough look.
[00:32:27] Speaker B: Okay. Interesting. Interesting. But yeah, you're right, you're right with those peas. There's a few guys that got out of the peas right before that tariff. A few of the large companies that I, I, that I kind of talk with and they're looking like geniuses like that. They had some insider information and they certainly claim that they didn't, but.
[00:32:45] Speaker A: Yeah, I'm sure they didn't. Yeah, yeah.
Read the tea leaves correctly.
[00:32:49] Speaker B: Yeah.
[00:32:50] Speaker A: Okay man. Well, we covered a lot, a lot here today.
I appreciate your time as, as always. Anything else, Any other topic that we haven't, haven't touched on?
[00:33:00] Speaker B: Yeah, I just say keep an eye on those new crop values if, if you're looking for some barley to, to book in. I, I like you. I, I do think it's probably not a bad idea to have a little barley booked in. I certainly, you know, you can't really do act of God on feed barley, but. So you want to be cautious. Maybe, you know, I always say maybe like 20 max if you're gonna do some. But I think that's something to look at for sure. You know, it's always nice to, nice to lock in a bit of a profit if you can.
Yeah, yeah, that canola. I, yeah, it might even have a little bit more legs in it. I think just with, with where things are at it when something does the opposite of what you think when all of a sudden they tariff it and you think it's going to and it kind of drops, but then it does the opposite. It's like, okay, well, they, they tend to keep going for some reason.
[00:33:48] Speaker A: So, yeah, we had, we had a bunch of scary, scary things like in a row that could have really crushed this market for us for the foreseeable future. And, you know, one by one, each of those story lines has gone away or improved, dissipated. Yeah. And you know that I always, I preach, I preach patience. I preach, you know, don't make big decisions around those big negative events. Not saying that I, you know, told everyone to magically own canola at 600. Well, you know, it made its way to 720. I wish I would have been able to do that, too. But.
But, yeah, it's. It's nice. And, you know, I think that the weather is going to play a part here, at least in the short term. I. My forecast, knock on wood, is not terrible the next couple of weeks, but weather is a part of this, too now.
Tight, tight ending stocks for canola, that's a part of this.
And people were planting less until proven otherwise, which will be at the end of June. So, you know, we got, we got a little Runway here, and we'll see. I know I'm going to spend. I've been spending a lot of time just looking at alternative risk management strategies. How do I, you know, If I like $700 November canola futures, we're not there quite yet as of recording. But if I like that number, how can I protect that without exposing myself to a big buyout? So.
Yeah. So anyways, good stuff, David. I appreciate your time and.
[00:35:17] Speaker B: Yeah, likewise, Ryan.
[00:35:18] Speaker A: Look forward to our next conversation. You bet.
[00:35:21] Speaker B: Me too. All right, we'll. We'll catch you then.
[00:35:23] Speaker A: You bet.
All right, folks, for eating your veggies this week, let's keep it a little bit simple here. You're likely towards the tail end of planting or you're in the back, back half of planting. It's getting to that point. Right. Which means that you've been putting in the, you know, working the long hours, keeping everything going, the stress levels up a little bit. The forecast has been a little tense as well. So that, that's all part of this. So let's, let's try to keep it simple. You know, number one, focus up. You're at the task at hand, and try to take a little rest here and there when you can. All right? Just try to take that little rest. Okay, so number one, I want to go into new crop yellow peas. I'd like to go on a Fishing expedition with you and basically go and start to dangle out those, those new crop yellow pea targets. We've seen a little bit of strength in yellow peas this week. Week, you know, we have nine bucks north up in the peace region here we've seen about a 50 cent gain. We're going to be a good nine and a half in some areas. Now let's just go fishing a little bit. Let's go and put something a little higher than that and see what can get filled here on a percentage. You know, I, I think p acres are on the decline this year. I see the Canadian dollar pulling back here as well. So that's supportive. But let's go and dangle something. Maybe it's 25, 50 cents above posted bids, but let's go and dangle a little something out there on, on those yellow peas. Of course, green pe lengthening. Let's keep an eye on that. And maple peas will be the last one to the party, but they'll make the biggest jump when they do come in. All right, so that's kind of number one. Number two, you got to tidy up old crop here, okay? You got to tidy up old crop. If you don't tidy up old crop here, you're basically positioning yourself for the weather for this rest of this spring and summer. But if and when. It's more when than if. But rain events in late May, early June, when those start to starts that when that stuff starts to happen, when it actually physically happens, the market's already peeled back and some of the charts are showing. You know, if you look at maybe the, the feed barley values, if you look at maybe oats even here, looks like they may have topped out a little bit wheat. You know, there's been some dandy specials. Feed wheat markets have been super strong. You gotta tidy up old crop here. And if you can tidy it up during this really busy part of the spring, more often than not, that pays dividends. We've like, we've got some great offers on wheat basis levels, you know, hitting near or at their high of the year. Just getting that secure and tidying up that old crop Marketing right now is very, very important. Okay, so take a little bit of time to get that done and then last one for this week, you know, honestly continuing to figure out your dance partner for fall of 2026. Okay. So just figuring out who out there is ready to contract on on wheat and canola and some of these other crops and just seeing what the prices are, seeing what's out there. I'm not saying you got to jump, jump for it. I did a little bit of new crop Canola for fall of 26. I'm gonna do a little bit more here shortly, I would think, just building that average up. But just figure out who your dance partner is, because when the market turns, it's too late.
By the time you find out who to do something with and to execute, you're chasing it and it's not going to feel very good. So go out there, take control, and, hey, find that partner and then toss that target out. You know, even if you're like, Ryan, I don't want to sell anything for next year. I want the market to go up another dollar. Fine, go throw the target out there. Throw it out for a few weeks and see what happens. And you'll. It'll feel pretty good when you get filled. All right. All right. That's it for eating your veggies for this week.
All right, folks, positive moments of the week. I got a couple here. I'm recording this segment Thursday morning. So my Edmonton Oilers have advanced to the conference finals. So I, I gotta toss that in there because I was. I didn't think we were getting this far, far this year, but the team is sure put it together. So I'm going to put my Edmonton Oilers in there as well for my first positive moment and then my last one here, my little shadow at home, my little guy, Finley, we had a moment here this week now where he wants to do Finn's, you know, at 28 months old, I believe something close to that, to two and a bit, two and a quarter. He's my little shadow and now he wants to do whatever I do, he also wants to do. And so if I'm, if we're up outside doing something, if we're working on a project and I had to pause this week and just realize that he, you know, if I, you know, take a hammer and hit a nail, he needs his hammer and he's going to hit his nail. And that was the kind of the first, the first moment that I realized that here this week was that he was trying to do all the things I was doing. So that, that is. If you, if you experience that, that's a special feeling as well. So, yeah, so those are my positive moments of the week. Of course, a happy belated Mother's Day to everybody we had for my wife, Mother's Day is not, not one day. I can't say we try to do it every day because that's not, that's not what Happens. But we. We had a weekend every day. We did something special for Chantel and we had a really nice Mother's Day as well. I went out for Mother's Day brunch and. And heck, we've even had a little bit of rain here lately as well. So that's it for positive moments for this week.
All right, folks, I've got Colin Cameron here with Winfield United joining me on the what the Futures podcast. Actually making your podcast debut. Colin, how's it going this week?
[00:40:31] Speaker C: That's going good. We got some. Got the crop in. Started raining right after, so couldn't ask for better timing.
[00:40:38] Speaker A: Yep, perfect. You may be my closest guest here. Right. We don't live that far apart.
[00:40:44] Speaker C: I was looking at the map we were talking earlier, and I think we're only.
I don't know, for 15 minutes apart at most.
[00:40:50] Speaker A: Probably. Yeah, I'd have to do a quick think, but I'm pretty sure your closest podcast guest so far.
All right, so like, what did you see out in the field when you were planting crops? Like, did anything kind of surprise you out there or what'd you notice?
[00:41:04] Speaker C: I think it's pretty widespread. We were going a lot around a lot of potholes, but it was still pretty dry in the mid slopes and hilltops. So, yeah, last year's dry weather's starting to catch up with us a little bit. Some areas not quite as much snow as normal too, and left pretty early. So, yeah, we have some dry conditions out there in general. I think a lot of areas are earlier than normal, it seems like, as well.
[00:41:29] Speaker A: So are you one of those farms that's going to go back and like fill in those potholes after if they're dry? Like go and put something in there? Do you just kind of leave it?
[00:41:37] Speaker C: I leave it. Once the girl's parked, it's parked. Unless. Okay, frost or something. But yeah, no, I don't.
[00:41:44] Speaker A: Hey, knock on wood. This week's snow event for southern Manitoba. Yeah, knock on wood.
[00:41:50] Speaker C: I see that.
[00:41:51] Speaker A: What about crop mix? Did you guys do anything different this year or do you kind of stick to the regulars?
[00:41:57] Speaker C: No, regular stuff, so can eat canola and wheat. We used to have some peas. We're taking a break from those just because our rotation on them has been pretty tight. We've been growing peas since, man, probably the late 80s, to be honest. And it's just.
[00:42:13] Speaker A: Yep.
[00:42:13] Speaker C: You know, the yields weren't. Aren't there where they should be? So taking a little bit of break, maybe get them back in eventually and just extend that Rotation.
[00:42:22] Speaker A: Yeah, we're at like a 10 year rotation now on peas on our farm. Like, it's. It's brutal. Yeah, absolutely brutal on those ones, but.
All right, so you work for Winfield United. What is your title, your role, what do you spend your day doing?
[00:42:36] Speaker C: I. My official title, I guess, is the market development manager for Northern Alberta. So my territory would be basically all of Alberta outside of the southern part. So outside of the, you know, the brown soil zone, so crossfield or car stairs, I guess, north all the way through the Crete in the north, so quite extensive fairways.
[00:43:00] Speaker A: North. Yeah.
[00:43:00] Speaker C: Yeah. And east. East of the Alberta Saskatchewan border mostly, too. So big swath of the or most of the black, dark brown and gray soils zones in Alberta.
[00:43:11] Speaker A: Fair enough.
[00:43:12] Speaker C: Yeah. So my job description, I guess, with Winfield United is to look after the proprietary brands. If people aren't familiar with what Windfield United does. We are a distribution company for independent retailers. But on top of that, we also have a proprietary portfolio. So that would include the Crop Plan C brand we have.
We also have some prop protection, an adjuvant portfolio, as well as some micronutrients. So anything you see, I guess that says buy Winfield United would fall to me to kind of manage the sales, the technical part, as well as education and just creating demand for those.
For those products.
[00:43:56] Speaker A: All right, fair enough. And like, if you're to, you know, throw out some of the. The names that farmers would recognize here on. On the podcast, like what kind of stands out as some of those. Those top products for you, I would.
[00:44:10] Speaker C: Say a lot of people are probably familiar with our interlock drifting product adjuvant.
More and more we've added to that portfolio as well. So people are familiar a lot more with Master Lock and now Strike Lock as well. I would say those are probably what most people are familiar with, more so than even the cropland brand at the moment.
[00:44:32] Speaker A: Yeah, so it's always windy in the spring, but the spring. Spring's been a challenge out there. So I don't know if you have a fix for that yet, but when you get to those big wins, when you get those figured out for us, let us know. All right.
[00:44:45] Speaker C: Yeah, we do well in a breeze, but not the wind we've had.
[00:44:50] Speaker A: Oh, man.
[00:44:51] Speaker C: This spring so far. No, it's been pretty bad.
[00:44:53] Speaker A: Okay, cool. So, you know, welcome, Winfield, to the. To the podcast here for sure. We're gonna do a little bit of a journey here on our farm with some cropland canola seed here in 2025. I'm excited to get this Project underway. And not that it's been easy here, Colin, like we're having on the farm. We have old reliable, we have two drills, we have old reliable and then we have a new drill. 20, 23, new build. And the darn thing's just been just a piece of work all spring long. So we're, you know, we're, we're getting close to planting some canola here, but we've been a little bit delayed with, with the slowdown. But this, this is the week, this is when it's going to happen on our farm just south of Prince Albert Sask. So I'm excited to get this kicked off. Now we're going to plant a variety. I'm not sure if you named this yourself or how this process works, but I think it's a CP25 L3C is what I want to say. Am I saying that properly? And did you name this thing?
[00:45:53] Speaker C: Yeah, that's correct.
Our naming is pretty easy. CP obviously stands for crop plan. 25 is the year of the hybrid registration. So you can, can know how old or how long it's been on the market. L designates a Glaus tolerant system. And then the next number would be our maturity. We rate ours from one to five, so three being a mid season and then the C, obviously we designate our traits as well. So this one would have a clubroot package.
Actually a very good one at that.
You may see some of our cropland varieties out there with a P instead. For shadow. We typically have clubroot and shatter traits and we just pick one to designate it. You won't see a PC or a CP or anything like that.
[00:46:42] Speaker A: Oh, okay.
[00:46:43] Speaker C: So yeah, we're. I think it's kind of straight cutting is kind of industry standard now for genetics. So it's not like we need. Okay, fair enough. So much anymore. But the clubroot part of it is obviously being in central Alberta where we are, is such a big thing for us so that we put that on the bag.
[00:47:00] Speaker A: Yep. Yeah, definitely. So 25, this is a new variety then for this year. You know, I guess what kind of stands out for you when you. When you think of this one?
[00:47:09] Speaker C: Yeah. So I guess to just mention another crop plant variety that we got registered last year in the CP. 24L 3C did very well for us and so we just wanted to continue the momentum and select another one to register for this year. There wasn't really any supply, I'd say for sale at the retail level. We had a bunch of stuff demo out and Put in plots such as you guys are doing on your farm to take a good look at it. But we were pretty, pretty confident where it's coming from that it would be a good performer as well. So we selected that, got it registered this winter and then, yeah, we've got some. I don't know how many bags would be spread out across Western Canada on plots and stuff, but a good portion of it and then, then coming into the fall, retailers will be able to order and farmers will be able to purchase it. So I kind of mentioned before, it's got a great club root package mid maturity, so fits in a lot of western Canada without being too late or even too early.
Yep, it's got pretty good early season vigor, strong performance, stands well, straight cut ratings great too. So pretty good overall variety checks all around. Checks the checks the boxes for most of us. Yeah.
[00:48:25] Speaker A: Yeah. Nice.
Well, we're gonna, we're gonna get that seed in the ground here over the next next few days. I was looking for an update on the farm this morning, but it's at the point where I don't even ask how, how the day is going anymore. I just say like, send me an emoji on where we're at today. So it's bugging them a little too much at times.
So I, I gotta ask, ask. So we got the, the details on this variety, but Winfield. Has Winfield been involved with, with this, you know, canola seed brand? Have you guys had this around for like many years now or how new is this to Western Canada?
[00:49:04] Speaker C: Yeah. So as far as canola seed would go in Western Canada, our first hybrid would have been 2019.
So not old school, but, you know, certainly been around for a while.
And that's in Western Canada. We've had a lot of cropland corn and beans and stuff in eastern Canada for quite a while.
[00:49:24] Speaker A: Yep.
[00:49:24] Speaker C: And then, yeah, just getting the canola. We've really started picking up steam in the last few years, getting some really good hybrids, expanding that portfolio too. I think when I started three and a half years ago, we had, we had maybe two, three varieties. So yeah, you know, double that portfolio. So certainly in the last couple of years and our seed production is really starting to follow that as well. So yeah, we're hitting the ground running a lot more people familiar with the cropland brand and know what it is now when they see it, not, not kind of taken aback when they see a brand new sign on the road in the, in the summer.
[00:50:01] Speaker A: Yeah, for sure. Okay, Colin, so you obviously you're farming as well, we got the canola market here trading, you know, Nov. Canola over 690 right now. I think for myself we're going to do a little bit of contracting here, get a little bit of this cropland sold at some of these strong values. Values that many were not anticipating just weeks ago. You got any, any insight on how your crop marketing's going this year? Anything kind of catching your eye in canola or wheat?
[00:50:32] Speaker C: Yeah, I think obviously I'm much happier with where canola levels are today versus when those tariffs went on in March and. And elevator stopped. Stopped even talking about canola. You can look back at my Twitter though. I was pretty confident that we'd get it figured out and we have. So that's good.
[00:50:51] Speaker A: Yeah.
[00:50:52] Speaker C: As far as my, you know, my new crop marketing, I usually I am in a pretty dry part of the world so I do not like to do contracts too early, but I will take protection, you know, whether it's puts usually pretty early around this time of year.
And so we'll be looking to do some of that, put a level in at least so we can sleep better at night. But yeah, I'm actually holding pretty tight. I don't. I used to do a lot of forward contracting and dodge some bullets here and there and then start using the options market more because I don't have to deliver anything and pay any fee. Well, short. Right. So it's. Yeah, it's worked well for us, I should say. This past year we did have a pretty low yielding crop, half of. Half of average, I'd say. I didn't have contracts that I had to worry about and we had some pretty good protection on canola and wheat I think early too.
And it paid off. You know, we kind of smoothed it out through that January time frame until she started coming back. So I think we did pretty well given the circumstances. I. I guess so.
[00:52:00] Speaker A: Yeah. Good stuff. And I would say if there's one thing we're doing a lot of talking about right now in the background is option strategies and. And puts and owning some price protection during the spring traditionally. Pretty good idea. Yeah, we often find some highs there. So appreciate you sharing that. Colin. Thanks for jumping on the what the Futures podcast here, making Winfield's debut and I look forward to tracking this journey here of our.
Well, where'd that fancy variety name go on me here? CP25. I don't know where my paper went. You're gonna have to finish it for me.
[00:52:34] Speaker C: CP25L 3C. Yeah, I'm looking, looking forward to it, yeah, we got lots out there and having, having it on your farm is going to be a pretty good thing for us too, I think.
[00:52:44] Speaker A: Awesome, man. Thanks again. Have a great growing season and we'll, we'll touch base soon. All right. All right, folks, so I had a couple questions come in this week and even a one from the lunchbox crew here that I want to touch on as well. We are hoping to bring back the mailbag segment here for the spring and summer. So, you know, fire my way, Ryan, at what the futurespodcast ca. Like I said, I am not the smartest person out there, but I got a lot of friends in the industry and I'm happy to invite them to answer your tough questions. Now, I, I get questions from Dallas on the regular here, which I appreciate. So thanks, Dallas, for sending them in. But he basically said, hey, Ryan, how high is the Canola market going to go? Canola was touching 7, 7:30, I believe when he wrote that in. And you know, I thought that was a fun question. Now, I obviously don't know the answer to that, but part of my marketing plan is I've got Trent Klarenbach, who's great technical analyst here for the Prairies. And you know, Trent and I were chatting this week about a few different things. We were chatting about it and I think that technicals here, they're always involved, play a big part, but it provided some clarity for me on what he looking at. And, and I basically challenged him and said, well, okay, now, now that you see that the market pulls back, you know, where do we go from here? And you know, it's anyone's guess. I'm not going to put words in Trent's mouth here on the show this week. Things change in a hurry. But, you know, the, the important thing to note here is that the prices and this is going to sound like I'm dodging the question, but you know, the question comes in, how high is this going to go? The answer that I have for you is, you know, if you have old crop Canola, if you were a believer that this was happening the whole time, you know, maybe when Canola was down at 580, this doesn't feel as powerful as it should for you, but Canola traded to 735, down from 605 80. Like we're talking about what, $3 a bushel, $4 a bushel basis improved as well. For some of you, that might even be approaching close to $5 a bushel on the darkest day before the market went like, instead of asking that question. The response I have is, you know, why wouldn't you take advantage of, of this and instead just lower down your. Your percent of risk here by just saying, hey, I don't know where this is going to go, but I'm excited about where it's at today. I'm going to take this price and then look to maybe buy that little call option or something to try to figure out the absolute home run. Like right now, the pitch count is it three balls, two strikes, you know, the bases, maybe they're loaded here and you're sitting up at the plate. You've got some confidence, but you're going for your big swing here. You got a fastball coming down the middle. Are you going to connect or not? You can connect by, by making the sale and buying the call option. To me, that's, that's, that, that's a grand slam because you didn't sell it at 580 or 600. You let the market do its thing. But you could swing and miss here as well. It's that time of year. Right. And I guess there's two outs as well, let's say, because we're of the time of year. So it's a great question, but I just want to say, like, there's lots of factors at play here. We could see this market climate doesn't go up in a straight line. There's some very positive things on the, From a chart perspective of things look pretty good and healthy right now. And yeah, we'll see. But I don't know if you have to. I don't know if you are taking that big swing, Dallas. I actually can't say that for sure, but that's how I would answer the question, even though I'm kind of going around it for you. All right. I got a Lunchbox crew question that came in this morning or this week as well, and I just thought it would be kind of an interesting one to have a discussion around because the question came in like, you know, what percent sold do you expect to be by the time you get to new crop? Do you have a goal for percent priced heading into harvest? Canola specifically. And so I asked, you know, is that physically sold? And they said, yeah, physically sold by harvest. And so my answer here, it can change a little bit as the year progresses. I'm a bit more of an aggressive marketer, though, in the sense that I'm an active seller during the spring and summer and traditionally not every year, but traditionally a little less active of. In the. In the winter months and not for every crop. But if I look at wheat, I'm a, you know, a very active marketer, you know, during this time of year. Less active in the winter. Traditionally canola, that could be the same as well. So I think everybody here has a different. Will have a different answer. And some of the farms that I work with, folks like the farms I work with, one on one, they will enter harvest a combination of sold and hedged, you know, approaching 90 to 100%. The combine rolls and everything is, has no downside. There's maybe some upside potential, but there's no downside left. Again, that's a combination. But I, you know, I sit here and I like to be, I like to be about half sold heading into harvest. I like to actually be a touch better than that, depending on the year. And I, again, not everyone has to be that level. You all have your own comfort level. And even on this episode, you know, we, we talked about, with Colin from Winfield about how, you know, he is an area of, of continued dryness over multiple years and he's not selling any physical. He's. He's going to handle it in his futures account instead. And so, you know, I kind of think about it in the sense that, you know, what do I want to physically be sold and moving and I get about halfway and then I may be further hedged than that. But 50 to 60 is where I aim for heading into harvest. Now I sit here today and I'm around the high teens to low 20s, you know, yield, depending, obviously making a few moves here in this, in this rally right now, increasing that a little bit. But, you know, the market's going to dictate when I make those, the next sales. The weather's going to dictate a little bit on what happens as well. And I'm probably leaning here towards, well, not probably. I'm leaning towards, you know, more puts right now, more protection against lower prices. Taking advantage of the rally and not exposing myself to, to any, you know, potential buyouts or anything like that. Until the weather smartens up, then I may turn, you know, change that, but until it, it smartens up. So anyways, I thought that was a cool question to come in. I know it's different for everybody and it's part of your crop marketing plan, which again, you may have written down in your crop marketing handbook here or workbook, I should say. But yeah, it's, it's a fun exercise to, to think about for sure. Well, maybe fun wasn't the right way way to Say that. Okay, let's leave it at that for questions. I had one more but I'm going to save it here until next week. All right folks, thanks for hanging out here once again. I do want to update you guys on the hockey pools in the lunchbox crew hockey pool which the winner is getting dinner for 10 at Montana as we got access to a really cool Montana's restaurant experience there. So Richard is in the lead on that one. It's a bracket style pool. He's leading by one point after Edmonton advanced here to the conference finals. But oh, I was looking at the Jackets and yeah a few guys right behind him. I think Blaine's right back there. Justin's back there as well. It we'll see maybe a little shake up coming in in those standings. And then we have the what the Futures pool which is for two hockey tickets. We have Eric Wall in first place. We've got Cody in second and Brad in third. Again looking through the rosters here folks, there's a couple. I think there's gonna be a late charge here for the third round. We'll see but that's where we sit here of course. The winner getting two. Two tickets to an NHL game of their choice on that one. Here's my little game here for the end. So what you need to do, let's go with email right now. I think that's probably easier for everybody. So email Ryan what the futurespodcast ca There is one thing that changed this week in the studio. Studio. All right, take a look. If you're checking out the YouTube video, take a look on the video. Email me what that one change in the studio was. And I wonder if I should give one hint. I was gonna say it's not on the display wall behind me. That is the hint. That was a strong hint. Let me know what it is and I will put together. Got a little bit of what the future's underwear left. I've got some T shirts hanging out here and I should have hats shortly as well. I'll put together a little prize pack for you. You let me know what you the answer Ryan at what the futurespodcast ca now again it's not on the back wall. That is the hint for this week. All right folks, share the episode with a friend, neighbor, someone in the farming community. I certainly appreciate it. Hope you enjoyed this week's episode and I'll be back with a fun one here next week. So that's it for the what's Futures podcast. My name's Ryan and I'm out.
