Glacier FarmMedia | MarketsFarm — With the 2024-25 marketing year coming to an end, Matt Beusekom of Market Place Commodities in Lethbridge, Alta. said old and new crop prices are set to converge.
Beusekom also mentioned that corn prices are “pretty competitive” compared to barley as United States corn futures trade at their lowest level since October.
“There’s a spread between the two obviously,” Beusekom said. “Feedlots (have corn) at C$10 to C$15 cheaper than barley … (Feed grain) demand is probably down just slightly, but it’s still fairly consistent.”
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Varied precipitation and warm temperatures were generally beneficial for crop development across Alberta during the week ended July 8, according to the latest provincial crop report released July 11.
Dryness on the Prairies continues to persist despite recent rains in various areas. But in other areas, the lack of precipitation is very apparent on crop conditions.
“I think there has been some irreversible damage, but there are other areas that are still hanging on and we are anticipating some moisture this weekend. How much of it comes and where it falls remains to be seen, but (there will be) quite a rain event,” he said.
Beusekom added that weather conditions this year are similar to those from last year. However, he said June 2024 gave way to a hot and dry July and it will be a wait-and-see approach this year.
“(Prices will) really depend on what happens with this rain,” he said.
Delivered bids for feed barley in Alberta ranged from C$5.12 to C$6.97 per bushel, steady for the month as of June 18 according to Prairie Ag Hotwire. Feed barley bids in Saskatchewan were between C$5.25 to C$5.70/bu., up 20 cents for the month, and those for Manitoba ranged from C$5.12 to C$5.35/bu., 16 cents higher than last month.
As for feed wheat, delivered prices in Alberta ranged from C$7.00 to C$8.98/bu., steady for the month. Those in Saskatchewan were also steady at C$7.50 to C$7.95/bu. In Manitoba, a bid of C$7.39/bu. was reported, up 27 cents from a month ago.
