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

Ryan Denis is joined by Allison Thomson 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

• (00:00:00) - Market headlines + sponsor
• (00:03:20) - Allison Thomson joins
• (00:05:20) - Winter wheat crop concerns
• (00:07:40) - Drought map analysis + 2012 comparison
• (00:11:00) - Crop hedging strategies
• (00:13:00) - Feed barley downside protection
• (00:17:30) - Have farmers missed the wheat rally?
• (00:19:40) - USDA WASDE preview 22:40 Final farmer marketing strategy

Episode 121 of the What the Futures Podcast features Ryan Copithorne (Cows in Control) on cattle markets sitting at all-time highs, including why pricing is strong, what bearish risks to watch, and practical risk management ideas like forward selling, livestock price insurance, and hedging, plus details on his June 18 event in Madden, Alberta. Ryan also discusses farm community challenges, flooding and road washouts delaying seeding on the Denis farm, and emphasizes “tractor cab math” to compare today’s grain prices to budgets and lock in margins. Tyler Yaremchuk (Nation Network) joins to recap the NHL playoffs, discuss Oilers roster needs, and react to the draft lottery chaos with the Maple Leafs landing the No. 1 pick. The episode closes with “eating your veggies” marketing tips and a song pick for the planting playlist.

00:00 Welcome and lineup

01:06 UPL Wave and subscribe

01:58 Hat contest and crisis line

04:31 Heavy weeks and community

12:08 Cattle markets with Ryan

32:42 Tractor cab math setup

38:21 Oilers Season Letdown

55:06 Eating Your Veggies Risk Plan

58:46 Planting Playlist And Wrap