Feed weekly outlook: Grain prices back off previous highs

Reading Time: < 1 minute

Published: July 10, 2019

, ,

Barley south of Ethelton, Sask. in early August 2017. (File photo by Dave Bedard)

MarketsFarm — Feed barley prices have come down from June highs, which saw prices around $300 per tonne.

Currently, feed barley is around $275-$280 as market participants anticipate arrival of new crops.

However, demand for feed grains remains high, as “we’re still dealing with a full feedlot,” said Brandon Motz of CorNine Commodities at Lacombe, Alta. “That’s driving quite a bit of demand.”

Similarly to barley, feed wheat is “trickling into the market” as low carryout from previous years has kept stocks low.

Read Also

Photo: JHVEPhoto/Getty Images Plus

U.S. grains: Soybean futures jump on hopes for US export demand

Chicago Board of Trade soybean futures jumped on hopes for U.S. export demand on Wednesday, while corn futures rose for a third day to extend a recovery from contract lows, analysts said.

“We still have a bit of time until new crop will roll in,” Motz said.

Feed wheat prices are currently between $258 and $260 per tonne.

Feed corn stocks are also depleting ahead of new-crop inventory. Prices delivered in Lethbridge are between $295 and $298.

Prices heading into August will be largely weather-dependent, though recent cooler weather and welcome rain have made for a longer growing season than last year’s.

“We’re still watching the weather in parts of Saskatchewan, but as of right now it looks like we’ll have an average crop, in Western Canada anyways,” Motz said.

— Marlo Glass writes for MarketsFarm, a Glacier FarmMedia division specializing in grain and commodity market analysis and reporting.

explore

Stories from our other publications