Feed weekly outlook: Prices dropping off over past month

MarketsFarm — While prices for Canadian feed grains are quite higher than they were a year ago, high-delivered bids for feed grains have seen a slight drop-off over the past month.

“Demand has just fallen off a little bit,” Glen Loyns, general manager of JGL Commodities at Moose Jaw, said. “Farmers are either getting down in their inventories or they are holding onto what they do have for inventory and just hoping for a better price.”

According to Prairie Ag Hotwire data from Wednesday, high-delivered bids for feed barley were $5.59 per bushel in Manitoba, $5.75/bu. in Saskatchewan and $6.79/bu. in Alberta.

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While those prices are still at least $1.44 higher than at this point last year, they are at least 17 cents lower than last month.

Feed wheat prices, while being at least $1.55/bu. higher than last year, haven’t risen more than 15 cents since the beginning of March.

Current prices for feed barley should increase seeding acres for the upcoming crop year, Loyns added, but with prices continuing to rise for crops such as canola, lentils and wheat, the effect would be limited.

“I think (feed grain) prices are going to hold steady,” he added when asked about prices in coming weeks.

— Adam Peleshaty reports for MarketsFarm from Stonewall, Man.

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