What the Futures!

Hosted by Ryan Denis

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100

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Jun 2026

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About the show

Do you ever have a moment on the farm, where you look around and wonder what the ... is going on? Dive into the market factors impacting Western Canadian agriculture every week with Ryan Denis. With over a decade of experience advising farmers on crop and business decisions, Ryan will tackle the tough selling and buying decisions that each farm faces. This is the podcast for farmers in Western Canada!

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June 16, 202622 min

Canola Rally, Ugly Basis: Hedge or Wait?

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 Chapters (00:00:00) - Futures open: crude, canola, wheat, soybeans(00:00:53) - Wheat demand and prairie grain prices(00:01:16) - Urea near $800/tonne(00:01:44) - UAN premium vs urea(00:02:31) - U.S. crop conditions improve(00:03:33) - Crude, urea and market headlines(00:04:32) - Evan Boyle from Simple Hedge joins(00:05:21) - Simple Hedge app and farmer education(00:06:31) - Simple Hedge weekly market recap(00:08:35) - WASDE recap: mostly quiet(00:09:59) - Wheat support: sell rallies or wait?(00:12:30) - Wheat risk, weather and winter opportunities(00:13:25) - Is canola basis broken?(00:14:39) - Why canola futures are holding up(00:15:38) - Are commercials waiting on farmer selling?(00:17:50) - Did farmers miss the canola put window?(00:19:11) - Ryan’s canola hedge strategy(00:21:09) - Hedging without delivery risk(00:21:30) - Final advice: reward relief rallies(00:22:14) - Land4Rent sponsor and Friday preview

June 12, 20261 hr 12 min

The Canola Rally Farmers Can’t Afford to Miss ( Before Prices Drop? )

Can canola keep rallying? Or is this a relief rally before lower prices ahead? In Episode 126 of What the Future’s Podcast, Ryan Denis is joined by Trent Clarenbach of Clarenbach Research to discuss canola, wheat, crude oil, commodity supercycles, crop marketing decisions, fertilizer price volatility, food security, and why farmers may need to stay disciplined despite bullish sentiment. They also discuss: • Canola above $800/tonne • Wheat market warning signs • Commodity supercycle expectations • Crude oil outlook • Fertilizer’s shocking $500/tonne correction • Weather impacts across Western Canada • Food security and global trade • Crop marketing strategies for 2026 Guest: Trent Clarenbach – Clarenbach Research Chapters (00:00:00) - Introduction: How bullish should farmers be?(00:02:30) - Weather challenges across Western Canada(00:04:00) - Farm Crisis Helpline message(00:08:00) - Positive moments from the week(00:12:00) - Crop marketing reminders(00:14:00) - Adjusting acres, yields & risk exposure(00:21:00) - Extreme weather & Super El Niño discussion(00:23:00) - Fertilizer prices drop $500/tonne(00:28:30) - Understanding the relief rally(00:34:00) - Trent Clarenbach joins the show(00:35:00) - The Spread Trader newsletter(00:37:00) - Weaponization of food & food security(00:43:00) - Crude oil outlook & commodity supercycle(00:44:30) - Canola, wheat & crop marketing opportunities(00:48:00) - Why farmers should stay proactive(00:49:00) - Ryan’s reaction to Trent’s outlook(00:51:00) - Eating Your Veggies: Crop marketing action items(00:54:00) - Brett Young 7206 update(00:55:00) - Tyler Yaremchuk joins the show(01:01:00) - Mike Babcock & the Edmonton Oilers(01:05:00) - Stanley Cup Final discussion(01:10:00) - Toronto Blue Jays update

June 9, 202621 min

Did Canola Already Top? Farmer Nathan on $800 Canola

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 Chapters (00:00:00) - Market Open & Grain Futures Update(00:01:20) - Prairie Weather, Crop Conditions & Tornado Concerns(00:03:00) - Nathan Kuhn Joins the Show(00:03:40) - Why Nathan Is Watching Canola Closely(00:05:10) - Relief Rally or Something Bigger?(00:06:20) - Susan Stroud’s Bullish Canola Call(00:07:15) - Canola Hits $800: Why Farmers Became Emotional(00:08:40) - How To Sell $800 Canola and Still Sleep at Night(00:09:20) - Nathan’s Canola Selling Strategy(00:10:15) - Best Resources for Learning Hedging(00:11:20) - Nathan’s Favorite Canola Hedge Strategy(00:12:20) - Learning Futures Trading Through Experience(00:13:20) - Wheat Marketing Challenges(00:14:00) - Why Wheat Basis Is Improving(00:15:00) - Negotiating Better Wheat Prices(00:15:40) - How Nathan Markets Spring Wheat(00:16:40) - Fuel Nexus and Diesel Buying Strategy(00:18:00) - How One Farm Saved $20,000 on Fuel(00:19:10) - Feed Barley Warning(00:19:40) - Ryan’s Final Canola Marketing Advice(00:20:30) - Closing Thoughts

June 5, 20261 hr 34 min

Canola Hits $800: The Biofuel Story Nobody Saw Coming

Canola just hit $800/ton for the first time since 2023. This week Ryan Denis sits down with Susan Stroud from No Bull Ag to break down the surprising rally in canola, why U.S. biofuel policy may be driving the move, and what producers should consider as prices surge higher. They discuss renewable fuel mandates, RIN values, soybean oil demand, canola’s role in biofuels, risk management, and why some of the best sales happen when farmers feel the most uncomfortable. Plus: Western Ag joins the show to discuss CropCaster, fertility planning, yield forecasting, and how better agronomy data can improve crop marketing decisions. Guests: • Susan Stroud (No Bull Ag) • Blake Weiseth (Western Ag) Links Mentioned: • https://www.nobullag.com • https://www.ryandenis.ca • https://www.harvestprofit.com • https://www.deere.ca Chapters (00:00:00) - Canola hits $800 02:20 Strategy Room update(00:08:50) - Why $800 canola feels frustrating(00:15:00) - Why farmers shouldn’t freeze(00:17:40) - Susan Stroud joins(00:20:20) - Why canola is rallying(00:23:00) - Biofuel demand explodes(00:24:00) - Why canola is winning in 2026(00:29:00) - Trade wars, energy and Europe(00:33:30) - The psychology of selling(00:34:00) - The best sales happen when uncomfortable(00:37:00) - Why lifting hedges can be dangerous(00:40:00) - Policy risks ahead(00:44:00) - AgriNext conference preview(00:50:20) - Western Ag joins(00:51:20) - Fertility meets crop marketing(00:57:20) - CropCaster explained(01:06:20) - Using yield forecasts for marketing(01:29:00) - Strategy Talk(01:30:20) - What should you do with $800 canola?

June 2, 202625 min

June 2 Grain Update: Canola $780 & Wheat Basis

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 Chapters (00:00:00) - Canola $780, wheat pressure, soybeans, oil & dollar(00:01:22) - Diesel price discovery and sub-$1 fuel quotes(00:03:08) - Wet fields, rain delays, and unseeded acres(00:04:36) - Crop conditions, weather, and market pressure(00:05:35) - John DePape joins Brian(00:06:23) - Peas, canola carryout, brokerage, diesel questions(00:07:43) - Are unseeded acres enough to move markets?(00:10:03) - Wheat basis transparency and Patterson pricing(00:13:21) - Local bids, specials, targets, and competition(00:14:44) - Export sales reporting and price transparency(00:17:30) - Bullish case for new crop CWRS basis?(00:19:28) - Why farmers should separate futures and basis(00:20:00) - Why basis is not boring(00:21:12) - How farmer selling behavior moves basis(00:22:52) - Basis, spreads, and grain company strategy(00:23:19) - John DePape’s Trading Floor breakdown(00:24:44) - Land for Rent sponsor and Strategy Room update

May 29, 202653 min

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 kickoff00:43 Sponsor message01:29 Markets and canola highs03:07 Song of the week04:27 Seeding challenges and farm morale08:22 Hedging and farm updates10:38 Chuck Penner joins16:59 Green and yellow peas25:01 Durum outlook31:17 Lentil market update37:09 Canola momentum42:19 Canola rally strategy45:49 Wheat specials46:42 Feed barley pricing47:34 Basis watchlist49:03 Farm update and sponsor50:31 Eating your veggies52:20 Conference and text updates53:19 Final wrap

May 26, 2026Episode 12521 min

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 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

May 22, 202644 min

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.caWhat the Futures Podcast: https://www.whatthefuturespodcast.caCanadian Ag Markets YouTube: https://www.youtube.com/@CanadianAgMarketsIreland Comeault Lafoy: https://www.irelandcomeaultlafoy.com Canadian Ag Markets trial/subscription info: https://buy.stripe.com/bJe28r0A9cLg81r8ni6Vq05Harvest Profit: https://www.harvestprofit.comJohn 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-biostimulantEmail Ryan for futures updates: ryan@whatthefuturespodcast.ca Timestamps:00:00 Seeding delays, canola, and wheat market setup00:44 UPL WAVE and sponsor intro01:30 Fertilizer market episode mention02:20 Ryan’s seeding update and safety reminder07:40 Brian Comeault joins08:08 Prairie seeding delays and canola impact10:14 Three drivers behind canola strength14:33 2022 planting-delay comparison17:06 Marketing differently in 202618:16 Canola risk tools and put options25:12 U.S. wheat conditions and Kansas wheat tour27:01 Spring wheat, drought risk, and 2017 comparison31:16 Barley bids and export strength32:22 Acreage shifts from delayed seeding38:38 Ryan’s market update40:40 Eating Your Veggies: targets, yield checks, puts43:09 Planting playlist and final CTA #Canola #CropMarketing #WheatMarkets

May 19, 202621 min

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-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

May 15, 202638 min

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