Feed weekly outlook: Barley, wheat holding fairly well

(Photo courtesy Canada Beef Inc.)

MarketsFarm — Feed prices for wheat and barley have softened over the last month, said Erin Harakal, senior trader for Agfinity at Stony Plain, Alta.

“Right now for wheat, we have seen it drop off in the last little bit,” she said, noting barley prices have slipped as well.

Harakal pointed to the overwintered barley and wheat coming off of Prairie fields this spring.

Another factor stems from meat packing plants, as many have been shut down or forced to operate at a reduced capacity due to the COVID-19 pandemic. In turn, that has rippled into feedlots and the grain trade.

“Feedlots are buying only when they need it — just hoping they can move the loads they have scheduled,” said Harakal.

There has been a little more corn coming into Lethbridge, home to Alberta’s feedlot alley. She believes most of that corn is likely imported from the U.S. and is going for $225 per tonne.

Prairie Ag Hotwire reported spot feed barley prices remained steady for the week on the Prairies. In Saskatchewan, barley delivered was $3.65-$4.18 per bushel, and $3.80-$4.02 in Manitoba. In Alberta barley was $3.85-$5.01/bu.

Over the last month, barley has been steady to down 22 cents/bu., and fallen 50-73 cents over the course of the year.

For feed wheat, prices for 2019-20 in Saskatchewan were $4.92-$5.75/bu., and $5.57/bu. in Manitoba, according to Prairie Ag Hotwire. Prices in Alberta ranged from $5.12 to $6.53/bu. Over the course of the week, prices were steady to down 14 cents, but over the last month they’re still higher by five to 30 cents/bu. On the year, however, wheat has slipped 19-54 cents/bu.

Looking at prices for new crop on Prairies, barley delivered ranges from $3.70 to $4.35/bu. New-crop feed wheat was $5-$5.40/bu.

— Glen Hallick reports for MarketsFarm from Winnipeg.

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