MarketsFarm – At this point of the fall, there’s not much room still to be had for feed corn, according to Brandon Motz of CorNine Commodities in Lacombe, Alta. In the meantime, prices for feed barley and wheat continued to push higher.
“The in-bound corn is picking up and we are starting to see new crop delivered to the elevators. So that’s a good sign. In terms of tonnage that is being traded, I would say most of what’s being traded is on the books already,” he explained.
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Motz added that some of the line companies are saying they don’t have any more room for new corn.
“So we are starting to run up against the limiting factor of ‘we cannot received any more corn, we have limited out,’” he explained, noting that any logistical issues could prove to be rather interesting.
Wheat prices were higher this week as demand is strong and good quality grain that’s available, Motz said.
“It’s just a little bit of a realization that crop sizes may be a little bit less than anticipated,” he commented.
Feed barley prices for the Lethbridge area were up on the week as well, which Motz found went against the grain of what usually occurs.
“We really didn’t see the dip that typically comes through the harvest. There was a little bit of a correction,” he stated, adding that there’s no reason currently for prices to pull back.
To Prairie Ag Hotwire however, feed barley remained largely steady over the last seven days, showing a 15-cent drop in Saskatchewan prices at C$7.40 to C$8 per bushel delivered. Prices in Alberta and Manitoba were steady at C$7.20 to C$9.14/bu. in the former and C$8.08 to C$8.25 in the latter.
Feed wheat increases 14 to 21 cents/bu across the Prairies, with Alberta at C$9 to C$11.57/bu, Manitoba at C$10 to C$10.30, and Saskatchewan at C$8 to C$10.45.
