Glacier FarmMedia – The New Year still hasn’t whetted the appetite for corn from the United States to Alberta feedlots.
Jim Beusekom, president of Market Place Commodities in Lethbridge, Alta., said the local feed grain market was more active after the holidays than it had been throughout December.
“With futures at contract lows and the Canadian dollar closer to 75 (U.S.) cents, it keeps the price of corn very competitive out here,” he added.
Prices for corn and barley are in ongoing declines, according to Beusekom, with prices now down to C$300 per tonne delivered for both.
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“Prices have been down for the first 11 days of January and there’s no indication that that trend has broken yet,” he said. “We presume (prices) will trend down for feed grains. The trend is your friend until it’s broken.”
Much of Alberta saw below-normal temperatures during the past week with Lethbridge expecting a high temperature at around minus-30 degrees Celsius for Jan. 12. However, Beusekom believes the frigid temperatures will cause few disruptions to grain deliveries, if any.
“Next week, it’s supposed to be warmer. If it does warm up as forecasted, (the cold snap) will barely be a blip on the radar. If it were two weeks of extreme cold, it would be more problematic,” he explained.
As of Jan. 10, the high-delivered bid for Alberta feed barley was C$7.08 per bushel, steady over the past month, according to Prairie Ag Hotwire. In Saskatchewan, the high-delivered bid was steady at $5.75. In Manitoba, it was C$5.67, down 17 cents from one month ago.
For feed wheat, the high-delivered bid in Alberta was C$9.12/bu., down 27 cents from a month ago. In Saskatchewan, the high-delivered bid was C$8.38, down 50 cents. In Manitoba, it was C$7.64, down 18 cents.
— Adam Peleshaty reports for MarketsFarm from Stonewall, Man.
