Feed weekly outlook: Barley, wheat prices very likely to increase

Increases seen tied to rising U.S. corn

(Photo courtesy Canada Beef Inc.)

MarketsFarm — Two Alberta traders believe strong feed grain prices will continue to push higher over the next week of January, with much of the upswing tied to the rise in corn prices in the U.S.

“As corn edges higher, becoming the preferred direct replacement to barley, your barley floor comes up and wheat starts to get looked at,” Brandon Motz of CorNine Commodities at Lacombe said.

In mid-December, he noted, feed corn was $285-$290 per tonne and now the price ranges from $305 to $310.

Prices for February-March feed barley and wheat are stronger than those for January, said Erin Harakal of Agfinity at Stony Plain.

“Right now prices won’t be going down anytime soon,” she said.

Barley prices into Lethbridge’s feedlot alley ranged from $270 to $28 per tonne and wheat was $270-$280.

Motz cautioned farmers shouldn’t continue waiting to sell their grain waiting to pick the highest price — although he and Harakal both expected the strong prices will continue for some time.

On the Prairies, feed barley prices this week have been steady, according to Prairie Ag Hotwire. Those in Alberta range from $4.75 to $6.10 per bushel, with the latter being the highest over the last year. Saskatchewan prices were $4.75-$5.10/bu. and those in Manitoba at $4.50-$4.71, the latter also being a year high.

Feed wheat was going for $5.82-$7.48/bu. in Alberta and $5.50-$6.75 in Saskatchewan. Prices in Manitoba ranged from $6.35 to $6.80, with the latter being the highest in a year.

— Glen Hallick reports for MarketsFarm from Winnipeg.

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