June 2018 Flax Prices Recap

In the month of June, flax prices were up by 4%. While that doesn’t seem like much, we did see some $13 CAD and $11.50 USD / bushel trades happen on the FarmLead Marketplace. 

Some strong demand from the likes of America and China were mainly the drivers of the increase in flax prices, but this has been a slow moving trend since basically this time a year ago.

Flax-prices-recap

For our GrainCents readers, we’re watching a variety of factors that might affect flax prices: 3 are bearish, 1 is bullish, and 1 is noise. Put another way, there are not a ton of factors that are driving the market right now, but driving they are.

We continue to be cognizant of what’s going on in places like the Black Sea, where production and export competition. Finally, we’ve been watching the driving forces for flax prices and if there is more of a bearish tone to the market, that’s a time to pull the trigger. So far in 2018, GrainCents readers have nailed the highs of the flax market for both old and new crop. 

That being said, this past month, for GrainCents readers, we delved deeper into the main topics of acreage and inventories, namely,

 – StatsCan’s estimates for 2018/2019 flax acres

 – The USDA’s estimates for 2018/2019 flax acres

Heading into the second half of the year, buyers and sellers of grain need actionable insight to make sense of ongoing trade tensions, supply and demand factors, and market behavior.

We’re expect to see some choppy swings in flax prices over the next few summer months, especially with ongoing trade war talk, and you owe it to yourself to stay on top of the markets.

That’s why we’re offering a free three-week trial to GrainCents, our exclusive sales recommendation service that holds a 93% success rate on getting farmers the best price possible.

Sign up right here for your risk-free trial.

About the Author
Brennan Turner

Brennan Turner is the CEO of FarmLead.com, North America’s Grain Marketplace. He holds a degree in economics from Yale University and spent time on Wall Street in commodity trade and analysis before starting FarmLead. In 2017, Brennan was named to Fast Company’s List of Most Creative People in Business and, in 2018, a Henry Crown Fellow. He is originally from Foam Lake, Saskatchewan where his family started farming the land nearly 100 years ago (and still do to this day!). Brennan's unique grain markets analysis can be found in everything from small-town print newspapers to large media outlets such as Bloomberg and Reuters.

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