MarketsFarm — The slide in western Canadian feed grain prices over the past few months shows signs of slowing, as concerns over harvest delays supplant earlier concerns over large crops and quality downgrades. “The weather over the next week or so doesn’t look that great,” Allen Pirness of Market Place Commodities in Lethbridge said Thursday. […] Read more
Feed weekly outlook: Barley’s slide slows as harvest drags
Spring wheat futures rally on North American weather woes
MarketsFarm — Weather-related quality issues with North American spring wheat crops saw Minneapolis spring wheat futures rally sharply over the past three weeks, with more room to the upside as concerns mount over the state of the crop. The December contract hit a multi-year low of $4.865 per bushel at the beginning of September, but […] Read more
Wet harvests hurt U.S., Canadian spring wheat quality
Chicago | Reuters — Excessively wet conditions in the northern U.S. Plains and Canadian Prairies have hurt the quality of the region’s spring and durum wheat crops, potentially tightening supplies of top grades of the grains, handlers and agronomists said. Rains and heavy dew have slowed the harvest and, worse, caused mature, un-harvested wheat kernels […] Read more
Cash wheat: Bids up with U.S. futures, weak loonie
MarketsFarm — Wheat bids in Western Canada moved higher during the week ended Thursday, as gains in U.S. futures, weakness in the Canadian dollar and concerns over harvest delays in Western Canada all provided support. The Canadian dollar was down by roughly a third of a cent relative to its U.S. counterpart on the week. […] Read more
Feed weekly outlook: Market not bottomed yet
MarketsFarm — Falling feed grain prices in Western Canada have not hit the bottom just yet, especially as harvest delays lead to quality downgrades. “I would say it’s coming down quite a bit more,” said Mike Fleischhauer of Eagle Commodities in Lethbridge. The barley and wheat harvests are running behind normal in both Saskatchewan and […] Read more
Cash wheat: Bids get support from U.S. gains
MarketsFarm — Wheat bids in Western Canada were higher for the week ended Thursday, with gains in CWRS, CPSR and CWAD wheats in all locations. The Canadian dollar was up by more than a 10th of a cent on the week, which tempered gains. Average CWRS (Canada Western Red Spring, 13.5 per cent protein) wheat […] Read more
Ample world malt barley supply to limit export prices
MarketsFarm — Canadian malt barley growers may be dealing with adverse harvest conditions that could lead to quality downgrades in some areas — while world supplies of the key beer ingredient remain more than sufficient to meet global demand. “There’s no real indication at this time that we’ll see a significant up move (in price),” […] Read more
Global wheat production to decrease, USDA says
MarketsFarm — In the latest supply and demand report from U.S. Department of Agriculture (USDA), the global wheat forecast was revised downward due to difficult weather conditions. USDA has now projected 765.53 million tonnes of wheat to be produced in 2019-20, according to the department’s world agriculture supply and demand estimates (WASDE), released Thursday. That’s […] Read more
As harvest drags on, malt barley quality uncertain
MarketsFarm — The quality of Canada’s 2019-20 barley crop remains to be seen, as cool and wet harvest conditions across much of the Prairies are raising concerns over how much will meet malt specifications. “We’ll lose a lot of malting barley this year, because of the weather,” said Peter Watts, managing director of the Canadian […] Read more
Feed weekly outlook: Barley bouncing back, reducing need for corn
MarketsFarm — This year has been proving good for barley, according to trader Allen Pirness of Market Place Commodities in Lethbridge. “A lot of acres went in and that takes the edge off of supply,” Pirness said of the barley crop throughout southern Alberta. There had been a switch to corn in feed rations last […] Read more