Feed grain prices for Lethbridge’s feedlot alley took a tumble after parts of the Prairies received some much-needed rain.
Jim Beusekom, president of Market Place Commodities in Lethbridge, said barley and wheat prices recently dropped.
Barley was around $285-$290 per tonne in the area, down about $10 from the week ending June 21. Wheat was about $265 per tonne, down $10-$15 per tonne.
“Two inches of rain will do that,” he said.
Beusekom also noted feedlots were very well covered for new-crop. In turn, that usually generates two things.
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One, sellers and farmers want to move their last bit of old-crop inventory they were hanging on to; and two, the feedlots will pull back their bids when more grain has become available.
New-crop prices for Lethbridge were about $235-$240 per tonne for barley, and wheat was around $230 -$235 per tonne, Beusekom said.
For the week ending Sunday, about 19,500 tonnes of feed grains were delivered by western Canadian farmers, according to the Canadian Grain Commission (CGC).
Of that, 16,300 tonnes was wheat, with the vast majority of it from Alberta and Saskatchewan followed by British Columbia and Manitoba. About 3,200 tonnes of barley came from the three Prairies provinces.
The CGC also indicated 12,800 tonnes of feed corn were imported from the U.S. into the commercial pipeline that week.
— Glen Hallick writes for MarketsFarm, a Glacier FarmMedia division specializing in grain and commodity market analysis and reporting.
