Fertilizer Dropped. Is $800 Canola Still Alive?

Fertilizer prices have finally come down, but the farm decisions are not getting any easier. In this Cuppa Coffee livestream from What the Futures Podcast, Sarah Cochet fills in for Ryan Denis and talks with Josh Uhrich of Bunge about urea prices, flooded acres, canola contracts, $800 canola, grain marketing decisions, weather risk, and prairie elevator competition. They cover whether farmers should be looking at summer fill urea, what flooded acres mean for canola contract risk, what it would take for canola to push back toward $800, and why grain marketing decisions need to be made farm by farm. Guest: Sarah Cochet, Trigger Grain Marketing Josh Uhrich, Bunge Links mentioned: Ryan’s fertilizer episode with Josh Linville: https://youtu.be/XkkvZ4aDMP4?si=0DR7tStAmIR9AelV ‍ Follow on Instagram and X for more market insights. https://www.instagram.com/whatthefuturespod/https://www.x.com/wtfuturespod Email Ryan: [email protected] What the Futures Podcast Website: https://www.whatthefuturespodcast.ca Thanks to our Sponsors John Deerehttps://www.operationscenter.deere.com/ UPL https://www.uplcorp.com/ BrettYounghttps://www.brettyoung.ca/ Chapters (00:00:00) - Sarah Cochet fills in for Ryan(00:00:31) - Market snapshot: canola, wheat, corn, soybeans and crude(00:01:15) - Crop ratings, winter wheat harvest and global weather risk(00:02:02) - Josh Uhrich joins the show(00:03:27) - Bunge’s Unity location and Northwest Terminal update(00:04:04) - Flooded and unseeded acres across the Prairies(00:05:58) - Rain, heat and what crops need next(00:06:44) - Should farmers buy out canola contracts?(00:08:38) - Urea prices dropped. Is it time to buy?(00:10:25) - Making fertilizer decisions farm by farm(00:10:53) - Is $800 canola still possible?(00:12:13) - What it would take to push canola higher(00:13:29) - Weather risk, Europe heat and Canadian production risk(00:14:48) - Specialty canola contracts and target pricing(00:15:34) - Why farmers should understand contract options(00:16:10) - Bunge locations and customized contract tools(00:16:58) - Cargill, P&H and Grains Connect location sales