Late Day Financials: Toronto TSX 16,867 -31   Dow Jones 26,987 +52   U.S. $ 98.62 +.16 Energies and Metals:  Bitcoin Dec 10,115 -315   Crude Oil Dec 58.33 +.49   Gold Dec 1,531.70 +16.40 Cash Market Snapshot: Spot Cdn 75.41 up.09   Dec Cdn 75.49 up.10   Mar Cdn 75.55 up.09 Weekly Cattle Market Update: The fed cattle market has stabilized after seeing 2019 lows tested on finished ten (10) days ago. In Alberta, fed steers did bottom out averaging $1.36 ½ /lb over the last few days. But carcass weights are still creeping higher The Cdn Cattle of Feed report (recently released) was viewed as bullish on aggressive marketings. U.S. cash cattle also saw a slight past recovery in the past few days. CDN FAT CATTLE MARKET MAY BE NEARING SEASONAL BOTTOM. But pork cutout prices remain in-decline and the cow market appears still under pressure dipping to lows not seen since early summer. D1/D2 bids now average 86 cents/lb, off another penny for the week. COW PRICES NOW IN-DECLINE. Cow price weakness expected into October. This week . . . feeder bids expected fully steady, fed cattle stdy and cow and butcher bull bids lower. Minneapolis Spring Wheat Surge: Quality concerns (wet weather) in northern U.S. hard red spring wheat continues to provide a boost to spring wheat futures. December MWE has now broken above $5.30/bu resistance with $5.60/bu now seen as heavy resistance. This is good news for western Cdn high- quality, high protein wheat heading into fall. QUALITY MILLING WHEAT BIDS TURN UP. For growers wishing to re-open and replace cash spring wheat sales, March Minneapolis spring wheat $5.50 at-the-money call may trade around 20 cents/bu. Top-end 1CWRS 13.5% wheat bids could angle into a $6.50 to $7/bu delivered range into mid fall. The Bull Market Called ‘Canary Seed’: If you have sound-quality canary seed stored in the back-40, buyer demand is expected to be solid this fall/winter. Both new crop and stored canary bids are heard 26 to 26 ½ cents/lb ($13 - $13.25/bu) for fall farm pickup. Growers, we believe given tightening supplies, cash canary prices could surge higher yet. The question is; how much old canary seed is still stored in Saskatchewan bins and may be flushed out this crop year? Yellow Peas Undervalued: Growers . . . the Cdn yellow pea cash market is seasonally quite undervalued on harvest selling pressure and quiet China / India buying demand. YELLOW PEA CASH BIDS NOW QUITE UNDERVALUED. #2 yellow bids continue to hover around $5.50/bu. Once international buying demand reappears, #2 yellow bids will jump $1/bu or more . . . quickly. This is your storage signal. Errol

Rain Delays: Spring Wheat Up... China Trade: Soybeans Surge... Cows Seasonally Off… Rain slowing harvest in the northern U.S. plains over the weekend plus President Trump talking-up a China trade deal had soybeans and Minneapolis spring wheat off-to-the-races this morning . . . . November soybeans briefly poked above $8.99/bu, up more than 15 cents/bu early. Minneapolis wheat surged with the December contract up 15 cents testing a high of $5.39/bu. Corn was more-or-less pulled by the ears on soy/MWE gains. “China booked 10 loads of (U.S.) soybeans for December shipment. This is good news, but well below expectations” commented a CME trader. Canola simply drafted higher pulled by soybean gains . . . . November canola tested an early morning high of $452.80/MT. The cattle board flared at the opening bell . . . . Buying was supported by Friday’s bullish Cattle on Feed feedlot placement data. August placements of 92% of a year ago were 2.5% below trade expectations. December live cattle spurted above $108/cwt, briefly ‘limit up’ mid-morning. November feeder cattle grazed $140/cwt, up nearly $3/cwt. “Today’s cattle futures support came directly from the COF report. Cash cattle bids were quiet today and wholesale beef prices were actually a little softer” commented a Colorado analyst.  And financial markets were generally a quiet affair with the exception of strong gold price gains . . . . Gold futures bolted nearly $20 per oz higher mid-day on Mid-east oil tension concerns.