MarketsFarm — While recent wet weather on the Prairies has helped bring down prices for feed grains, demand — or a lack thereof — has been another primary factor.
“The rains have definitely affected (prices) a bit, but probably not to the extent demand has,” said Erin Harakal, trade manager for Agfinity at Stony Plain, Alta.
Many feedlots won’t be taking in any more grain until mid-August, but there are still buyers during the summer months, she added.
“We’re finding a lot of feedlots are getting full right now as we get closer to harvest.”
Read Also
U.S. grains: Soybeans retreat after one-month high; corn, wheat sag
Chicago Board of Trade soybean futures turned lower on Tuesday on profit-taking after the benchmark contract touched a one-month high in early moves, while market players continued to monitor U.S.-China trade relations, analysts said.
According to Prairie Ag Hotwire data from Wednesday, both feed barley and feed wheat in Alberta are down 22 cents per bushel compared to last month with high-delivered bids at $7.62 and $9.53/bu., respectively. However, both prices are still more than $2 higher than last year.
Harakal added that the rains have eased growers’ concerns about their own crops and conditions across Alberta have improved.
“I think everything across the board is looking good so far going into July,” she said. “I don’t think there’s going to be much of a change going forward price-wise.”
— Adam Peleshaty reports for MarketsFarm from Stonewall, Man.
