MarketsFarm — Alberta Pulse Growers on Monday released Feed Benchmark Bi-Weekly Reports, providing “a consistent and unbiased estimate of the feeding value of low-tannin fababeans and feed peas” in central Alberta, central Saskatchewan and southern Manitoba.
Comparing fababean and feed pea prices to other feed grains, the report stated, “Grains are softening further on the Prairies with the expectation of reduced canola planting this spring and increased barley and wheat acres.”
Fababean prices are currently highest in central Saskatchewan, reaching up to $319.19 per tonne. Comparatively, the lowest price observed in all three regions for feed barley is only $236 per tonne.
Feed pea prices were highest in central Alberta, hitting up to $311.90 per tonne. Feed barley was also reported as high as $247 per tonne.
Soybean meal, another competitive feed ingredient, is fetching prices around $515 per tonne in central Alberta, the highest in the Prairies, where comparatively, fababeans are only around $314.44 per tonne, and feed peas, again, at $311.90.
“Soybean meal has remained flat despite downward pressure with reduced trade to China, while DDGS (distillers dried grains with solubles) price has also softened,” according to the report.
Ahead of the planting season, the report predicted “prices may have some firmness in the short term but with downward pressure over the medium to long term.”
Looking ahead, Canada’s trade relationships with India and China will continue to weigh on values.
There are “still a lot of variables at play, though, with a lot contingent on weather and trade spats,” the report concluded.
In total, Canada produced 91,300 tonnes of fababeans and over 3.5 million tonnes of feed peas in 2018.