Feed weekly outlook: Market in a waiting game

U.S. corn, available wheat keep market supplied

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Published: June 8, 2023

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File photo of a barley seedling. (SusanHSmith/iStock/Getty Images)

MarketsFarm — The feed grain market in Western Canada is holding relatively steady for the time being as both buyers and sellers wait to get a better handle on new-crop production.

“It’s a waiting game at this point between the farmer and the feedlot,” said grain merchant Jay Janzen of CorNine Commodities at Lacombe, Alta.

Relatively dry conditions in Alberta were behind the caution, with steady movement of corn coming up from the U.S. and a recent influx of wheat entering the local feed market from a line company elevator keeping the market well supplied.

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While the dryness was limiting forward sales from farmers, “if we got a good rain then you’d see the bin doors open,” Janzen added, noting “at this point, it’s just the weather.”

Some spot business is still taking place, although most feeders are thought to be well covered for the time being.

Feed barley in Alberta is currently trading in the $7 to $8.93 per bushel range, according to Prairie Ag Hotwire data, with new-crop bids topping out at $6.70 per bushel.

— Phil Franz-Warkentin is an associate editor/analyst with MarketsFarm in Winnipeg.

About the author

Phil Franz-Warkentin

Phil Franz-Warkentin

Editor - Daily News

Phil Franz-Warkentin grew up on an acreage in southern Manitoba and has reported on agriculture for over 20 years. Based in Winnipeg, his writing has appeared in publications across Canada and internationally. Phil is a trusted voice on the Prairie radio waves providing daily futures market updates. In his spare time, Phil enjoys playing music and making art.

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