Glacier FarmMedia—The recent influx of moisture across the Prairies put pressure on feed grain prices, according to an Alberta-based trader.
Matt Beusekom of Market Place Commodities in Lethbridge, Alta. said the Prairies have seen copious amounts of precipitation over the past month, with the exception of the Peace River region which is still struggling with dryness.
“Every corner of the Prairies have had decent moisture from one end to the other,” he said. “Everywhere just seems to be having a fantastic start.”
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The added precipitation, combined with tumbling grain prices in the United States, caused feed grain prices in Western Canada to move lower as of late.
“Barley is off from C$295 (per tonne) to probably C$285 to C$290. Corn has come from C$315 delivered at the feedlot to C$300 and feed wheat’s probably off from C$355 down to C$345,” Beusekom said.
However, this doesn’t necessarily mean more corn deliveries from the U.S. are coming in the near-term.
“I don’t know if feedlots are buying quite yet,” he added. “I think it piques their interest a little bit more, but they want to see how low it gets.”
Beusekom said it’s hard to tell where prices will go in the near future, but they may keep going lower.
“With the amount of moisture around, you would think it’s going to put a bit more pressure on prices here, especially as we’re getting closer to new crop, too,” he added. “It certainly looks like we’re going to have a big crop on the Canadian Prairies and everybody’s feeling a little bit bearish.”
Delivered bids for feed barley in Alberta ranged from C$226.43 to C$297.17/tonne, up C$1.84 from last month, as of June 5 according to Prairie Ag Hotwire. In Saskatchewan, prices were from C$234.24 to C$264.10/tonne, unchanged from last month. Manitoba prices were also steady from C$228.73 to C$229.65/tonne.
For feed wheat, delivered Alberta prices ranged from C$242.51 to C$356.05/tonne, up C$8.08 from last month. In Saskatchewan, feed wheat went for C$242.51 to C$330.70/tonne, steady from the month before. In Manitoba, only C$300.93/tonne was reported, up C$19.84 from one month earlier.
