It's been another interesting year in the oilseed markets.
Chuck Penner of Leftfield Commodity Research gave an update on the situation at oilseed producer meetings across Saskatchewan this month.
He said there are still a lot of unknowns, even at this time of year, and the late harvest was a factor.
"Caused all kind of problems, of course, trying to figure out how much quantity we have available. Also with the quality, this year the quality is so different from than the norm, it's causing all kinds of problems with finding enough supplies of good quality crops to move into export markets. For the most part, demand is good we are just not sure we can service that demand with the qualities we have," he said.
He also advises farmers marketing their crops to not base their decisions on the past.
"It's impossible to predict with any kind of certainty what's going to be happening. You can deal with the thing in front of you and developing weather situations. I would really encourage them to market based on new crop bins that are in front of them now and make decisions based on that. Don't make them based on where prices were at last year because that can actually blind you a little bit as to what is happening this year and maybe next year," Penner said.
Penner was one of the guest speakers at oilseed producer meetings hosted by the Ministry of Agriculture and other industry groups this month.