Glacier FarmMedia | MarketsFarm — Feed barley prices in Western Canada were holding relatively steady in mid-January, despite rising corn prices south of the border.
Feed barley into the key Lethbridge feeding area was priced at C$302 to C$305 per tonne area as of Jan. 17, according to the Alberta government’s weekly market review. That was steady on both the week and month.
Meanwhile, delivered corn prices have risen by roughly C$20 per tonne over the month, trading at about C$328 per tonne into Lethbridge in mid-January. Weakness in the Canadian dollar coupled with rising corn futures in Chicago have made corn imports from the United States more expensive for Canadian buyers.
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March corn futures hit a high of US$4.9450 per bushel on Jan. 23, marking the strongest level for the front-month corn contract in eight months.
Canadian imports of U.S. corn remain slow, with only 56,100 tonnes imported as of Jan. 9 during the marketing year that began at the start of September, according to U.S. Department of Agriculture data. That compares with 471,600 tonnes at the same point a year ago. In addition, there are only 49,600 tonnes of outstanding U.S. corn sales to Canada, well below the 342,800 tonnes on the books at the same time a year ago.
Meanwhile, Canadian barley exports are running about 15 per cent ahead of the year-ago pace, with 1.04 million tonnes exported as of Jan. 12, according to weekly Canadian Grain Commission data.
