Tuesday February 23, 2021

• Bean market forging new highs for 2021 crop this morning with cash prices in Ontario reaching $15.00/bu – this is the highest opportunity farmers have had to pre-sell their beans since 2012 / 2008 
  • I am not saying this is definitely the top of the market and sell 100% of your beans for next year 
  • BUT I am saying that this is an opportunity we don’t get often and a time to ask yourself if you can afford not to sell at least some $15.00 beans
• Bean story: supplied remain delayed from South America and every day they delay North American crop gets tighter and tighter 
  • Brazilian harvest at its slowest pace in the last 10 years 
  • Reportedly yields have also disappointed thus far – however it is far too early to tell if this is an indication on their entire cro por only a small region
• Beans and corn are fighting for prospective acres for 2021 – neither of them willing to allow the other to step in front – leaving us with some extremely attractive pricing opportunities