Feed weekly outlook: Incoming corn pressures barley, wheat

(Photo courtesy Canada Beef Inc.)
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MarketsFarm — Pressure from forthcoming corn imports from the U.S. have been driving down feed prices for barley and wheat in Saskatchewan and Manitoba, according to Evan Peterson, trader with JGL Commodities in Saskatoon.

Meanwhile, prices in Alberta held steady.

“We’re seeing some decent coverage right now on the feeder side. We’re waiting for the corn to hit the market,” Peterson said, noting corn is cheaper than barley and wheat.

There has been a little bit of pressure from the Prairie harvest, he said, but corn is really the main driver right now.

“We got a pretty poor barley crop in Western Canada,” Peterson said.

With the severe drought across the Prairies this summer, Statistics Canada projected a barley harvest of approximately 7.84 million tonnes, meaning a 27 per cent drop compared to production in 2020-21.

Feed barley prices in Saskatchewan have fallen 46 cents per bushel over the past week at $7.50-$7.79/bu. delivered, according to Prairie Ag Hotwire. Those in Manitoba dropped further, by 75 cents/bu. at $7.35. Alberta prices remained at $6.75-$9.04/bu.

It’s a similar story for feed wheat with Saskatchewan incurring a decline of 31 cents at $8-$10/bu. Prices next door to the east pulled back 24 cents at $9.56/bu. In Alberta prices held firm at $8.01-$11.57/bu.

— 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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