Feed weekly outlook: Grain prices back off previous highs

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MarketsFarm — Feed barley prices have come down from June highs, which saw prices around $300 per tonne.

Currently, feed barley is around $275-$280 as market participants anticipate arrival of new crops.

However, demand for feed grains remains high, as “we’re still dealing with a full feedlot,” said Brandon Motz of CorNine Commodities at Lacombe, Alta. “That’s driving quite a bit of demand.”

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Similarly to barley, feed wheat is “trickling into the market” as low carryout from previous years has kept stocks low.

“We still have a bit of time until new crop will roll in,” Motz said.

Feed wheat prices are currently between $258 and $260 per tonne.

Feed corn stocks are also depleting ahead of new-crop inventory. Prices delivered in Lethbridge are between $295 and $298.

Prices heading into August will be largely weather-dependent, though recent cooler weather and welcome rain have made for a longer growing season than last year’s.

“We’re still watching the weather in parts of Saskatchewan, but as of right now it looks like we’ll have an average crop, in Western Canada anyways,” Motz said.

— Marlo Glass writes for MarketsFarm, a Glacier FarmMedia division specializing in grain and commodity market analysis and reporting.

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