Glacier FarmMedia — Extreme cold temperatures in Western Canada have done little to move the needle on feed grain markets as corn continues to come up from the United States and end users appear well covered for the time being.
While feed demand typically rises as temperatures fall, warmer weather in November and December has kept end users showing a reluctance to buy more grain.
The feedlots don’t want to be overbought, according to Susanne Leclerc of Market Master Ltd. in Edmonton, adding “we’ve had such good weather that they don’t want to be buying more than they need… everybody is hand to mouth right now.”
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Leclerc said the general trend in barley pricing was flat to lower. However, she added that there was a wide price spread with spot opportunities arising from time to time for minimal tonnage.
Looking ahead a lack of subsoil reserves and minimal snow cover could provide support in the spring, but for now both buyers and sellers were waiting for a spark to move things one way or the other.
“All buyers want (prices) to go down, all farmers want (prices) to go up,” said Leclerc.
— Phil Franz-Warkentin is an associate editor/analyst with MarketsFarm in Winnipeg.
