MarketsFarm — As dry conditions continued to take root across much of the Canadian Prairies, feed grain prices have for the most part been climbing, according to Susanne Leclerc of Market Master Ltd. in Edmonton.
“The futures are coming up on quite a few commodities, so the prices have been coming up slightly,” Leclerc said of feed grains.
“It’s going to be interesting to see how crops do come out,” she added about this year’s harvest. “But there are patches that are fine, so it’s a very mixed scenario out there.”
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Leclerc noted several buyers have said they are covered for corn, “but then all of a sudden we saw a run on barley this week because no one was covered.”
She said the market at times has been going from “no need to a giant need.”
The recent Canadian Drought Monitor pegged most of the Prairies as being abnormally dry to being in a moderate drought, with some areas being more severe.
Then on Wednesday, the U.S. Department of Agriculture issued its monthly supply and demand estimates which included a two-million-tonne cut in Canadian spring wheat production, now at 35 million tonnes.
Feed barley prices across Western Canada have been mixed over the week ended Wednesday, with old-crop in Alberta dipping 11 cents per bushel overall at $7-$9.14 per bushel, according to Prairie Ag Hotwire. Meanwhile, Saskatchewan prices were unchanged at $7-$7.50/bu. and those in Manitoba added six cents at $7.50-$7.56.
Feed wheat incurred similar circumstances, with Alberta prices down five cents at $8.15-$11.43/bu., as Saskatchewan held at $8-$10.25. In Manitoba there was a 12-cent gain that raised prices to $9.61/bu.
— Glen Hallick reports for MarketsFarm from Winnipeg.
