MarketsFarm — As feed grain prices on the Canadian Prairies remain relatively stable, the market appear to be “moving to a quiet summer,” according to Brandon Motz of CorNine Commodities at Lacombe, Alta.
“Demand remains neutral to weak, and farmers are holding on to their grain that’s left in the bin,” Motz explained, noting feedlots “appeared to be bought up at the current pace.”
He said feed barley going into ‘feedlot alley’ at Lethbridge was getting $415-$420 per tonne, depending on the time frame for delivery. New-crop barley was hanging around $365/tonne for October-November delivery.
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“Here we sit, spring is upon us and we’re waiting for a move of some sort,” Motz said of prices, adding that supplies of corn imported from the U.S. look as if they are “going to last for another couple of months.”
Also, he said, the move between Australia and China to resolve a trade dispute over barley imports from the former has had a calming effect on western Canadian feed prices.
One thing he suggested could move prices one way or another would be a major weather event, especially during the summer months.
Feed barley prices over the last week were relatively steady, according to Prairie Ag Hotwire. As of Wednesday, prices in Manitoba remained at $6.83-$7.25 per bushel delivered, while those in Saskatchewan held at $7.75-$8/bu. Prices in Alberta dipped four cents at $7.45-$9.12/bu.
As for feed wheat, there was a little bit more downward movement with Manitoba easing back three cents at $10.09/bu. delivered. Saskatchewan was firm at $8.50-$11/bu. and Alberta witnessed a slip of 11 cents at $9.40-$11.57.
— Glen Hallick reports for MarketsFarm from Winnipeg.
