There were a few tweaks to the latest monthly report from the United States Department of Agriculture released on Nov. 8. The World Agricultural Supply and Demand Estimates not only lowered yields for U.S. corn and soybeans, the department reduced the ending stocks for both.
Spring wheat cash prices were mixed for the week ended Oct. 31, as pressure from declines in United States wheat futures were countered by support from a weaker Canadian dollar that encourages more export sales.
Feed barley and corn imported from the United States are currently trading at the same price into southern Alberta, said Lethbridge-based Darcy Haley, vice-president of Ag Value Brokers.
As wheat production in Argentina is projected to increase in 2024/25, according to the United States Department of Agriculture attaché in Buenos Aires, the country’s corn output is to be smaller than in the previous year.
Harvest operations in Alberta are virtually complete for 2024, the province’s crop report said. Combining advanced three points to 99 per cent finished as of Oct. 22 as well as being three points above the five-year average.
Despite a lack of activity in the feed grain markets, prices for feed barley and feed grain are trending lower, according to a grain broker from Edmonton.