Glacier FarmMedia | MarketsFarm — Domestic feed barley and United States corn imports are pretty much the same price in Western Canada, said Darcy Haley, vice-president of Ag Value Brokers in Lethbridge.
Haley said feed barley went for C$300 to C$305 per tonne for January-February-March during the week of Nov. 25, while that for April-May-June was at C$305 to C$310.
“Corn is virtually the same price. It just depends on the day,” he added.
“What’s helping barley’s cause is the price of corn. You need more corn DDGS for more protein in the ration in order to get the same bang for barley,” Haley continued.
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He said when feeding corn, the DDGS must be 20 to 25 per cent, but only five to 10 per cent when feeding barley due to its higher protein content.
But with the market virtually covered for the balance of December, there won’t be much movement of prices or additional product.
“There’s going to be some demand starting in the last half of January. We’ll see who cracks first. Is the seller going to want to move some grain before then or is the buyer going to need it?” Haley posed.
When it comes to wheat, he said Ag Value has been moving only small amounts of soft wheat as there’s very little demand for hard red spring wheat.
Haley noted the line elevator companies have covered their domestic sales and exports. About the only factor that can cause prices to shift he said is the incoming Trump administration due to “a lot of unknowns.”
However, Haley suggested corn prices on the prairies will become cheaper than barley in about five to six months.
