Feed weekly outlook: Lower stocks support grain prices

Corn still 'competitively' priced

Barley. (Photo courtesy Canada Beef Inc.)

MarketsFarm — Feed grain prices in Western Canada have been strong lately, as old-crop supplies reach seasonal lows.

“We’re getting to the bottom of old-crop stocks,” said Allen Pirness of Market Place Commodities in Lethbridge.

However, he noted, growing conditions on the Prairies have been favourable, with no indication of a “drought-induced early harvest.”

Old-crop feed barley delivered to southern Alberta is around $240 per tonne, and old-crop feed wheat prices are around $230. New-crop prices for both barley and wheat are around $220 per tonne.

Corn is “competitively priced,” but bids are expected to increase, due to drought concerns in some growing regions of the United States.

“That’s perking up prices a bit,” Pirness said, noting that it will depend on what grain producers chose to feed, “whether it’ll be barley, wheat, corn, or a mixture of all three.”

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