Feed barley and corn imported from the United States are currently trading at the same price into southern Alberta, said Lethbridge-based Darcy Haley, vice-president of Ag Value Brokers.
Soybean and corn futures at the Chicago Board of Trade were pressured by losses in crude oil over the past week, but uncovered support and could see some choppiness ahead of the United States election. The commodities were in a 'tug-o-war' as large supplies were countered by good demand.
Ukrainian grain exports are expected to be down in the 2024/25 marketing year due to smaller crops, tighter carryout stocks and the ongoing challenges of shipping through the Black Sea, according to the United States Department of Agriculture’s Foreign Agricultural Service in Kyiv.
As wheat production in Argentina is projected to increase in 2024/25, according to the United States Department of Agriculture attaché in Buenos Aires, the country’s corn output is to be smaller than in the previous year.
The net fund short position in canola fell to its lowest level in six months during the week ended Oct. 22, as speculators covered bearish bets and put on new longs, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Rising corn prices in the United States could provide support for feed grains in Western Canada, although the current price spread remains conducive for imports of U.S. corn into Canadian feed channels.
Harvest operations across Manitoba are nearly complete, with only sunflowers and corn still left to come off the fields, according to the latest provincial crop report for the week ended Oct. 22.
The net fund short position in canola declined for the fourth week in a row in mid-October, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Despite a lack of activity in the feed grain markets, prices for feed barley and feed grain are trending lower, according to a grain broker from Edmonton.