Did You Miss the Wheat Rally? WASDE & Drought Watch

Specialty Crops Update with Chuck Penner (Peas, Lentils, Durum) + Canola Near New Highs

Episode 124 of the What the Futures Podcast features Chuck Penner of LeftField Commodity Research answering grower questions on peas, lentils, durum, canola, wheat, and feed barley. Penner breaks down Prairie weather extremes, pea demand from China and India, durum pressure from weaker North African demand, lentil uncertainty tied to Canada, Australia, and India, and canola’s rally into new highs. The episode also covers old crop wheat specials, rising feed barley values, improving canola basis, and the importance of staying ready to execute marketing plans. 00:00 Episode kickoff 00:43 Sponsor message 01:29 Markets and canola highs 03:07 Song of the week 04:27 Seeding challenges and farm morale 08:22 Hedging and farm updates 10:38 Chuck Penner joins 16:59 Green and yellow peas 25:01 Durum outlook 31:17 Lentil market update 37:09 Canola momentum 42:19 Canola rally strategy 45:49 Wheat specials 46:42 Feed barley pricing 47:34 Basis watchlist 49:03 Farm update and sponsor 50:31 Eating your veggies 52:20 Conference and text updates 53:19 Final wrap

Should Farmers Hedge Canola at $760?

Canola prices, wheat hedging, late seeding risk, feed barley, oats, diesel, and weather market pressure are all on the table in this Tuesday Cuppa Coffee livestream from What the Future’s Podcast. Ryan is joined by Quinton from JGL to talk through what farmers across the Prairies are watching right now, including canola hedge targets, wheat basis, seasonal market pressure, late planting concerns, export strength, and why weather may matter more than war headlines for grain and oilseed markets this week. Sponsored by UPL. ⏰ Timestamps 00:00 UPL Wave + fertilizer shock 00:48 Canola hedge target near $760 01:26 Wheat rally + hedge strategy 02:18 Barley, oats + diesel update 04:18 Weather risk, war headlines + late seeding 07:43 Quinton from JGL joins 09:45 Marketing decisions + seasonal highs 15:18 Options, downside protection + crop uncertainty

Delayed Seeding: Canola Rally or Trap?

Delayed seeding in Western Canada, canola prices near recent highs, spring wheat drought risk, barley bids, and 2026 crop marketing strategy are all on the table in this episode of What the Futures Podcast. Ryan Denis is joined by Brian Comeault of Ireland Comeault Lafoy / Canadian Ag Markets to break down what Prairie seeding delays could mean for canola, why canola puts may be worth a look, how U.S. wheat conditions could shape spring wheat, and what farmers should be watching before the next major market move. Guest: Brian Comeault, Canadian Ag Markets / Ireland Comeault Lafoy Links mentioned: Ryan’s email list: https://www.ryandenis.ca What the Futures Podcast: https://www.whatthefuturespodcast.ca Canadian Ag Markets YouTube: https://www.youtube.com/@CanadianAgMarkets Ireland Comeault Lafoy: https://www.irelandcomeaultlafoy.com [https://www.irelandcomeaultlafoy.com] Canadian Ag Markets trial/subscription info: https://buy.stripe.com/bJe28r0A9cLg81r8ni6Vq05 Harvest Profit: https://www.harvestprofit.com John Deere Operations Center: https://www.deere.ca/en/technology-products/precision-ag-technology/operations-center/ UPL WAVE Biostimulant: https://www.uplcorp.com/ca/product-details/wave-biostimulant Email Ryan for futures updates: ryan@whatthefuturespodcast.ca Timestamps: 00:00 Seeding delays, canola, and wheat market setup 00:44 UPL WAVE and sponsor intro 01:30 Fertilizer market episode mention 02:20 Ryan’s seeding update and safety reminder 07:40 Brian Comeault joins 08:08 Prairie seeding delays and canola impact 10:14 Three drivers behind canola strength 14:33 2022 planting-delay comparison 17:06 Marketing differently in 2026 18:16 Canola risk tools and put options 25:12 U.S. wheat conditions and Kansas wheat tour 27:01 Spring wheat, drought risk, and 2017 comparison 31:16 Barley bids and export strength 32:22 Acreage shifts from delayed seeding 38:38 Ryan’s market update 40:40 Eating Your Veggies: targets, yield checks, puts 43:09 Planting playlist and final CTA #Canola #CropMarketing #WheatMarkets

Fertilizer Market Warning 2027: Trouble Is Building

Fertilizer prices, phosphate supply, and 2027 crop planning are already becoming major questions for farmers. In this Tuesday Cuppa Coffee livestream from What the Future’s Podcast, Ryan Denis is joined by Josh Linville of StoneX to break down the fertilizer market, including phosphate, potash, urea, China, the Strait of Hormuz, and whether farmers should lock in fall fertilizer or keep waiting. Josh explains why North America made it through spring 2026 better than some feared, why global fertilizer supplies are still tight, and what could cause phosphate prices to finally break lower. Ryan also covers canola, wheat, soybeans, oats, Prairie seeding delays, U.S. planting progress, and why farmers may need to “play financial defense” while markets are offering stronger pricing opportunities. Links mentioned: UPL WAVE Biostimulant: https://www.uplcorp.com/ca/product-details/wave-biostimulant What the Future’s Podcast: https://www.youtube.com/@whatthefutures/videos ⏰ Timestamps 00:00 Intro + markets update 01:20 Prairie planting delays discussion 03:00 US crop conditions + wheat concerns 04:20 Josh Linville joins the show 05:10 Why fertilizer shortages haven’t happened yet 07:00 Are fertilizer fears overblown? 08:40 Australia fertilizer concerns explained 10:15 Super El Niño debate 11:05 Current state of fertilizer markets 13:10 Why phosphate prices remain high 15:10 China + Strait of Hormuz risks 16:20 Why farmers are sitting on their hands 17:10 White House fertilizer announcements 18:40 “I wanna be boring again” moment 19:20 Will planting delays rally grain markets? 20:00 Ryan’s grain marketing advice for farmers #FertilizerMarket #GrainMarkets #WhatTheFutures Listen to the show on the go. https://open.spotify.com/show/3xz7OvO7P0WDW8mAx25L1y?si=bd51356530834599 https://podcasts.apple.com/ca/podcast/what-the-futures/id1715185428 ‍ Follow on Instagram and X for more market insights. https://www.instagram.com/whatthefuturespod/ https://x.com/wtfuturespod Email Ryan: ryan@whatthefuturespodcast.ca What the Futures Podcast Website: https://www. whatthefuturespodcast.ca Thanks to our Sponsors John Deere https://operationscenter.deere.com/ UPL https://www.uplcorp.com/ BrettYoung https://brettyoung.ca/ #FertilizerMarket #GrainMarkets #WhatTheFutures

Protecting the LAST 70% & Why our Merchant Friends LOVE rallies!

In Episode 122 of the What the Futures podcast, Ryan reviews a volatile week in prairie crop markets after a USDA-driven spike and explains how grain companies often widen or protect basis during rallies, creating large price discrepancies between nearby elevators. He urges farmers to focus on execution during seeding-season market spikes, emphasizing that rallies can materially improve farm profitability and should be evaluated and protected. Using real examples (e.g., Killam vs. Daysland, Alberta; Aberdeen vs. Melfort, Saskatchewan), he compares wheat bids and breaks down futures, currency, and basis to show differences of roughly 50+ cents per bushel. Ryan discusses strategies to manage the remaining unsold crop without high buyout risk, including put options, structured floors with upside, and averaging-type contracts, and encourages active price discovery across buyers. 00:00 USDA Spike Setup 01:30 Short Sweet Focus 02:39 Merchandisers Love Rallies 04:16 This Week Market Recap 05:40 Profitability Wake Up Call 15:47 Execution After Spikes 17:53 How Farms Sell Rallies 21:43 Act Of God Reality 22:29 Protect The Remaining 70 25:02 Elevator Price Math 31:16 Risk Tools And Options 35:54 Eating Your Veggies