What the Futures!

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: ryan@whatthefuturespodcast.ca 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/

BAM Weather meteorologist Brett Waltz joins Ryan Denis to break down the latest Prairie weather outlook and explain why one of the strongest El Niño events on record could shape crop conditions across Western Canada and the U.S. Will July bring the heat everyone fears? Is drought still a risk? And what does the “horseshoe weather pattern” mean for spraying, crop development, and yield potential? Brett shares his outlook for June, July, August, and even early harvest season. Links & Resources Links mentioned: What the Futures Podcast:https://www.whatthefuturespodcast.ca/ Ryan Denis:https://www.ryandenis.ca/ Ryan’s email list:https://www.ryandenis.ca/subscribe Strategy Room:https://www.ryandenis.ca/strategy-room Lunch Box Crew:https://www.ryandenis.ca/lunch-box-crew Crop Marketing Made Cool Conference:https://www.ryandenis.ca/2026-conference UPL Wave Biostimulant:https://www.uplcorp.com/ca/product-details/wave-biostimulant BAM Weather:https://bamwx.com/ Bret Walts:https://x.com/BretWaltsWx Bret Walts LinkedIn:https://www.linkedin.com/in/bretwaltswx Futures text updates / questions for Ryan:ryan@whatthefuturespodcast.ca #Weather #Farming #Agriculture #Canola #Wheat #ElNino #PrairieWeather #CropMarketing #WhatTheFutures

Canola futures are green, but prairie basis is still ugly. In today’s Cuppa Coffee, Ryan Denis breaks down canola, wheat, urea, UAN, crude oil, crop conditions, and crop marketing strategy with Evan Boyle from Simple Hedge. Canola was trading around $763/tonne, crude oil was under $78/barrel, urea was around $800/tonne, and wheat markets were trying to find support. Ryan and Evan discuss whether farmers should sell wheat rallies, whether canola basis is lagging futures, whether puts still make sense, and why relief rallies may be the marketing opportunity farmers cannot afford to ignore. Guest:Evan Boyle, Simple Hedge Thank you to our sponsorhttps://land4rent.com Subscribe for more Western Canadian grain market updates, canola futures, wheat markets, fertilizer pricing, basis conversations, and practical crop marketing strategy. #Canola #GrainMarkets #CropMarketing

Canola hit $802, pulled back near $774, and now farmers are asking the big question: did canola already hit its seasonal high, or is this just a relief rally? In this episode of Cuppa Coffee from What the Futures, Ryan Denis is joined by Farmer Nathan to talk through the live grain market moves, canola pricing, wheat basis, diesel price discovery, prairie moisture, unseeded acres, hedging resources, and how farmers can make profitable sales without freezing up emotionally. Nathan breaks down how he approached $800 canola, why he still made earlier sales at profitable levels, and how he thinks about futures-only sales, pullbacks, and using calls to stay in the game. Ryan also shares what farmers are asking about diesel under $1/L, Fuel Nexus, old crop wheat opportunities, feed barley, and why this is a moment to focus on today’s decisions instead of regretting past sales. Sponsored by Land for Rent: https://landforrent.com Land for Rent:https://www.landforrent.comFuel Nexus:https://www.fuelnexus.ca/Previous episode with Susan Stroud:https://open.spotify.com/show/3xz7OvO7P0WDW8mAx25L1yPrevious episode with Laura Lee / Lorelei Gress from Fuel Nexus:https://open.spotify.com/show/3xz7OvO7P0WDW8mAx25L1yWhat the Futures Podcast:https://www.whatthefuturespodcast.caWhat the Futures on Spotify:https://open.spotify.com/show/3xz7OvO7P0WDW8mAx25L1yWhat the Futures on Apple Podcasts:https://www.podcasts.apple.com/ca/podcast/what-the-futures/id1715185428What the Futures on Instagram:https://www.instagram.com/whatthefuturespod/What the Futures on X:https://x.com/wtfuturespodRyan Denis:https://www.ryandenis.caEmail Ryan:ryan@whatthefuturespodcast.ca

Grain markets are moving fast on June 2. Brian Comeault is filling in on Cuppa Coffee while Ryan is away, and John DePape joins the show to break down wheat basis, canola near $780, diesel price discovery, unseeded acres, and what Western Canadian farmers should be watching next. In this live grain market update, Brian covers canola futures, wheat pressure, soybeans, bean oil, crude oil, the Canadian dollar, Prairie rain delays, and diesel quotes that are getting farmers’ attention. Then John DePape explains why basis may matter more than many farmers think, why local bid competition can create major price differences, and why separating futures and basis decisions can be a powerful crop marketing strategy. Sponsored by Land for Rent / Land4Rent: https://land4rent.com/ Links mentioned:The Trading Floor: https://thetradingfloor.circle.so/c/start-hereLand for Rent sponsor link mentioned in the episode: https://landforrent.comPossible active sponsor site to verify: https://land4rent.comStrategy Room registration: Link mentioned as being on What the Futures socials. Watch on YouTube Follow What the Futures:Instagram: https://www.instagram.com/whatthefuturespod/X: https://x.com/wtfuturespodWebsite: https://whatthefuturespodcast.ca Email Ryan:ryan@whatthefuturespodcast.ca #GrainMarkets #Canola #WheatBasis

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 shock00:48 Canola hedge target near $76001:26 Wheat rally + hedge strategy02:18 Barley, oats + diesel update04:18 Weather risk, war headlines + late seeding07:43 Quinton from JGL joins09:45 Marketing decisions + seasonal highs15:18 Options, downside protection + crop uncertainty

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-biostimulantWhat 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 Deerehttps://operationscenter.deere.com/ UPL https://www.uplcorp.com/ BrettYounghttps://brettyoung.ca/ #FertilizerMarket #GrainMarkets #WhatTheFutures

Ryan Denis is joined by Allison Thompson of The Money Farm to break down the latest USDA WASDE report expectations, wheat market rally potential, 2012-style drought comparisons, and the biggest crop marketing strategies farmers need right now. From wheat, corn, soybeans, barley hedging strategies, and weather risk, this episode covers critical insights for producers navigating volatile grain markets in 2026. Topics Covered: - USDA WASDE new crop outlook- Wheat rally opportunities- US drought map vs 2012- Spring wheat & winter wheat risks- Barley downside protection- Corn and soybean options strategies- Farmer crop marketing plans Guest:Allison Thomson – The Money Farm Sponsored by:UPL – Wave Biostimulant & Telaron Fungicide Timestamps:00:00 Market headlines + sponsor 03:20 Allison Thomson joins 05:20 Winter wheat crop concerns 07:40 Drought map analysis + 2012 comparison 11:00 Crop hedging strategies 13:00 Feed barley downside protection 17:30 Have farmers missed the wheat rally? 19:40 USDA WASDE preview 22:40 Final farmer marketing strategy

The host recaps morning market moves (canola steady; wheat, soybeans, and corn lower; bean oil strong; CAD ~73.5; WTI down) and urges diesel price discovery due to wide quote variance, then welcomes Chuck Penner of Left Field Commodities to discuss what’s driving markets, seasonal patterns, and crop marketing timing. Penner says many crops are still following seasonals despite record production, warning wheat/canola and other major crops often top within the next few weeks and tend to weaken into summer, so growers shouldn’t assume rallies will continue. They review USDA crop progress and ratings, prairie seeding disruptions from excess moisture, shifting Western Canadian seeding intentions, risks in barley tied to Chinese demand, and red lentil seasonals alongside El Niño considerations in India. Penner notes post-harvest rallies often peak around November and directs viewers to leftfieldcr.com for a 30-day trial. 00:00 Market Week Kickoff 00:44 Morning Futures Snapshot 01:35 Diesel Price Discovery 01:59 Viewer Questions Preview 02:38 Headlines War and Crops 03:13 USDA Crop Progress Breakdown 04:31 Prairie Planting and Fertilizer 05:19 Chuck Joins and Seasonals 06:13 Seasonal Peaks and Timing 08:05 Supercycle Talk and Wheat Bull Case 10:25 Barley Demand Risks 11:45 Seeding Intentions Shifting 12:53 Prairie Conditions and Delays 14:14 New Crop Selling Strategy 17:47 Wheat Selling Window 19:49 Lentils Seasonals and El Nino 22:23 Wrap Up and Next Episode

Episode 118 of the What the Futures Podcast features meteorologist Bret Walts (BAM Weather) discussing the developing strong-to-potential “Super El Niño,” its definition, and likely impacts on U.S. and Canadian moisture patterns, including continued Kansas winter wheat dryness with a possible pattern change toward more rain later in April/May and a warmer, generally favorable late-April/May outlook for Saskatchewan and Alberta planting. Ryan also shares crop market notes, highlighting wheat strength tied to Kansas dryness, caution on barley and canola, and the importance of being comfortable with hedge and sales positions. The episode then turns to diesel with Lorelei Gress (Fuel Nexus), covering the temporary federal excise tax suspension (April 20–Sept. 7), how Fuel Nexus’ pre-purchase program and delivery works, pricing transparency, and an additional short-term discount promotion. 00:00 Episode Preview 04:37 Positive Moments And Vacation 08:30 Wheat And Canola Markets 11:45 Weather Talk With Bret 17:17 Prairie Spring Outlook 24:07 Weather Wrap And Marketing 27:05 Fuel Guest Introduction 30:12 What Fuel Nexus Does 39:06 Pre Purchase Discounts 46:00 Fuel Myths Busted 50:46 Locked In Price Promise 58:11 Eating Your Veggies 01:02:37 Final Wrap Up

In episode 117 of the What the Futures Podcast (recorded April 8), Ryan covers a sharp midweek market drop and questions whether a Middle East ceasefire will matter for crop prices, noting markets were already cracking. He compares pre-war and current futures levels, with canola holding gains best while corn and soybeans have erased them, and suggests selling and re-owning risk on paper versus trusting a lasting ceasefire. Ryan updates his crop rankings after raising his fertilizer budget about $40/acre, yet makes minimal price assumption changes (max 3%), with canola still top for margin on his farm, maple peas and flax next, and many cereals and pulses underwater. He discusses 2026 marketing “baskets” (patience, opportunistic, forgiving), shares strategy reminders to review recent hedges and sales, and outlines a detailed farmer meeting agenda covering wins/losses, contracts, hedges, market outlook, cash flow, workflow, future crop plans, and inputs. 00:00 Markets Tank This Week 00:28 Podcast Intro 04:08 Don’t React On Down Days 05:37 Tooth Fairy Break 13:14 Crop Rankings And Fertilizer 24:00 Hat Design Contest 30:48 Meeting Agenda Basics 38:43 Inputs Fuel Logistics 42:02 Wrap Up Veggies Checklist 44:57 Final Sign Off

In episode 116 of What The Futures, Ryan welcomes Allison Thompson of The Money Farm for her debut to break down USDA acreage expectations, market volatility and technical levels in wheat, and what early fertilizer bookings and rotation decisions may mean for corn, soybeans, and expanding crops like canola and sunflowers, including a canola acreage jump to 2.685 million. Ryan also answers Cuppa Coffee questions on canola carry and thin liquidity, payback on on-farm fertilizer and fuel storage, the Lunchbox Crew community, and diesel hedging via heating oil or crude. James Mitchell of Crop Management Network then focuses on domestic Western Canada fertilizer, warning of spring allocation, plant turnarounds, tight urea/phosphate, potential multi-day delays, and considerations like UAN availability and summer fill risks amid global supply constraints and export restrictions. 00:00 Show Preview 04:54 Positive Moments Update 08:24 Cuppa Coffee Q And A 09:16 Canola Carry And Spreads 11:08 Fertilizer And Fuel Storage 17:05 Lunchbox Crew Explained 19:37 Hedging Diesel Costs 21:44 Allison Joins The Pod 21:56 Market Technicals And Pullbacks 25:29 USDA Acreage Report Breakdown 38:39 Eating Your Veggies Tips 42:50 Fertilizer Supply Reality 45:05 Allocation and Bottlenecks 46:44 Plant Outages and Turnarounds 53:56 Summer Fill Global Risks 01:01:58 Final Advice and Sign Off

In episode 115 of the What The Futures Podcast, Ryan is joined by Mark and Kent from BrettYoung to discuss forage crops, including seed availability, planning timelines, and BrettYoung’s forage establishment guarantee, which offers 100% seed replacement for orders placed before April 1 in the event of natural disasters. They cover common establishment risks such as frost, wind erosion, and increasing gopher damage, and stress the importance of early planning, proper seeding depth, moisture, seed-to-soil contact, and scouting. The conversation also includes cover crop guidance (notably oats and low cereal seeding rates), fertility timing for different nutrients, and herbicide options for early weed control. They highlight BrettYoung’s forage guide and online selector tools, discuss custom versus stock blends, and note that forage seed supply varies annually by weather and production regions. 00:00 Show kickoff and agenda 00:38 Market recap and geopolitics 01:35 Farm talk and episode setup 03:01 Forage guarantee deadline 05:27 Meet Kent and Mark 06:52 Seed availability and planning 10:42 Choosing varieties and blends 13:16 Establishment and agronomy tips 19:48 Forage Guide and favorites 24:08 Plots and seed supply realities 26:50 Forages as rotation crop 29:04 Wrap up and marketing outlook