With Alberta farmers presently reluctant to sell their barley and wheat for feed, cash prices have been on the upswing, according to Darcy Haley, vice-president Ag Value Brokers in Lethbridge.
Feed prices in Alberta climbed 20 cents per bushel the week ended Aug. 29, likely according to last week's rail disruption, according to Susanne Leclerc of Market Master Ltd. in Edmonton.
The work stoppage at the Canadian National Railway (CN Rail) and Canadian Pacific Kansas City (CPKC) will adversely affect feed grain sales and deliveries, according to one grain broker.
An ongoing lack of demand has forced feed grain prices to drop back recently, according to Darcy Haley, vice-president of AgValue Brokers in Lethbridge.
Glen Loyns, trader and general manager for JGL Commodities in Moose Jaw, Sask., said while the recent heat and dryness has reduced yield expectations, prospects of a decent harvest are still putting pressure on prices.
The hot and dry weather present in much of the Prairies for much of July may not have yet put a dent in production numbers. Matt Beusekom, trader for Market Place Commodities in Lethbridge, Alta., said while the heat is pressuring crops, good harvests are still expected for now. “(The heat) has definitely had an
Farmers still holding onto old crop feed barley in hopes of better prices may be out of luck this year, as bids continue to drift lower with attention in the market turning to the upcoming new crop.
Feed grain prices took a sharp drop across most of the Canadian Prairies during the week of June 24, as a broker pointed to the potential for good crops this year as the reason why.
Susanne Leclerc, owner of Market Master Ltd. in Edmonton, said moisture levels in Alberta are not distributed evenly with the north seeing plenty of rain and the south becoming drier. A recent cold snap between Calgary and Edmonton plunged lows to around the freezing mark earlier this week, while snow fell over parts of the Foothills.