Feed weekly outlook: Prices to soften as new crop year nears

MarketsFarm — Prices for feed barley and wheat will decline as the new crop year gets closer, according to Erin Harakal, senior trader with Agfinity at Stony Plain, Alta.

Harakal said the new crop should start coming off of the fields around the end of August and the beginning of September.

“Usually at this time of year [the feedlots] don’t require as much grain,” she said, noting a fair amount of old-crop barley remains in the market.

Harakal said it’s possible new-crop prices could get a boost as areas across the Prairies are dealing with wet conditions. However, she said, many areas throughout the region remain dry.

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Over the last week, feed barley prices on the Prairies were down in Saskatchewan by 10 cents per bushel and by six cents in Alberta, according to Prairie Ag Hotwire. Those in Manitoba rose by five cents per bushel.

Barley prices in Saskatchewan were $4-$4.26/bu. delivered, and $3.85-$5.17/bu. in Alberta. Prices in Manitoba were $3.60-$4/bu.

There were gains for feed wheat this week, with prices in Saskatchewan rising 13 cents and 11 in Manitoba. Prices in Alberta remained steady.

Prairie Ag Hotwire cited $5.30-$6/bu. delivered in Saskatchewan, and $5.25 in Manitoba. Prices in Alberta were $5.08-$6.80/bu.

— Glen Hallick reports for MarketsFarm from Winnipeg.

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