MarketsFarm – Feed grain prices in western Canada continue to fall, but seasonal activity isn’t the only reason contributing to the declines.
Erin Harakal, a trade manager at Agfinity Inc. in Stony Plain, Alta., said futures markets are also doing their part in putting pressure on feed grain prices.
“Especially in the wheat markets due to all the different factors like a (potential) recession. (Traders) think stocks look pretty reasonable and futures are oversold,” she said.
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“When it comes to barley, it has slightly deteriorated. I think it’s just demand and corn prices have also gone down (this week).”
Feed barley for May-June in Lethbridge ranged from $405 to $410 a tonne ($8.82 to $8.93 a bushel), she added.
Most growers in Alberta and southern Saskatchewan have already started sowing, Harakal said, and if they haven’t already, growers will start this weekend.
With the focus now on sowing, Harakal expected prices to remain stable in the short term.
“We still have some buyers looking for cover through late May and June,” she said.
The highest bid for feed barley in Alberta was $9.14/bu. on Wednesday, down 87 cents from a year ago, according to Prairie Ag Hotwire. In Saskatchewan, the top bid was $7.75/bu., down 15 cents from last month and 89 cents from last year. In Manitoba $7.25/bu. was the highest bid placed, down $1.47 from a year earlier.
For feed wheat, the highest bid in Alberta was $11.57/bu., down $2.86 from last year. In Saskatchewan, the top bid was $10/bu., down 75 cents from last month and $3.50 from a year ago. Manitoba’s top bid was $9.59/bu., 74 cents down from a month ago and $2.94 down from a year ago.
— Adam Peleschaty Reports for MarketsFarm by Stonewall, Man.
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