Feed weekly outlook: Barley prices close to ceiling

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MarketsFarm — Feed barley prices, which climbed during May, have very likely risen as far as they can go, said Nelson Neumann, senior trader with Agfinity at Stony Plain, Alta.

“We’re at the point where corn can be a cheaper alternative. There’s a ceiling on the market and we’re pretty much at that ceiling,” Neumann said.

“About two weeks ago we saw an increase in buying, at least in our office. There was a lot of interest from buyers and driving up the price.”

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Barley peaked at around $245 per tonne delivered in Lethbridge, he said. “It starting to feel like it’s been softening slightly.”

Wet conditions, a busy May for farmers and the need to extend old-crop supplies combined to drive up prices, he explained.

“Buyers didn’t want to be at the end of August without any barley and none available,” Neumann said.

Prairie Ag Hotwire reported Thursday that feed barley prices increased by 22 cents per bushel over the last month in Alberta, 17 cents in Saskatchewan and four in Manitoba. Over the last week, prices were steady in Saskatchewan while they slipped five cents in Manitoba and were down 11 cents in Alberta.

They cited prices in Manitoba at $3.60-$4.06 per bushel delivered and $3.75-$4.35 in Saskatchewan. Prices in Alberta were $3.85-$5.23 per bushel delivered.

As for feed wheat, Prairie Ag Hotwire said prices over the last month increased by five cents per bushel in Alberta, held steady in Saskatchewan and lost 12 cents in Manitoba. Then over the last week Alberta and Manitoba saw prices drop eight cents while they held steady in Saskatchewan.

Feed wheat was currently $5.25-$5.75 per bushel delivered in Saskatchewan and $5.45 in Manitoba. Prices in Alberta were $5.07-$6.59 per bushel delivered.

— Glen Hallick reports for MarketsFarm from Winnipeg.

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Glen Hallick - MarketsFarm

Glen Hallick writes for MarketsFarm specializing in grain and commodity market reporting.

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