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Tidbits, Insurance Hedging, Rain Days Update 9/17/23


Chris farms near Andrew, in Central Alberta, Canada northeast of Edmonton. He reported Friday morning:

"Good morning, Roger, We finished our spring wheat harvest last night. I figure we averaged about 92 bushels an acre."

Hard Red Spring Wheat harvest is nearly complete and this year’s crop currently grades at U.S. No. 1 Northern Spring Wheat. Northern Durum is more than 75% harvested and it is grading as U.S. No. 1 Hard Amber Durum.

Black Sea grain market guru, Andrey Sizov, said his estimate for wheat production was going to be reduced after a disappointing spring wheat harvest. Kazakhstan dropped their wheat production due to sprouted and droughted wheat right adjacent to Russia’s spring wheat area.

Baker Hughes reported the USA had 611 gas and oil rigs drilling this past week, up 9 from the previous week and down 122 from a year ago. Canada had 190 rigs drilling, 8 more than the previous week and 2 fewer than a year ago.

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