MarketsFarm — Feed grain crop yields are expected to be about average across the Prairies as harvest has kicked off.
“It appears we’ll have somewhat of an average crop, with a bunch of high-yield areas and a bunch of low yield areas averaged together,” said Jim Beusekom, president of Market Place Commodities in Lethbridge.
New-crop barley and winter wheat prices are around $240, for delivery right away. For deferred delivery into September, prices are between $220 and $225.
Beusekom mentioned there isn’t much new crop supply in the market due to areas that have seen significant drought.
“Yields aren’t that high, volumes aren’t very high yet, and that’s why we have a better price for early new-crop supply.”
Beusekom expected, as the harvest progresses into the central Prairies, yields will increase significantly.
That is, unless an early frost nips at harvest’s heels.
Temperatures in Regina reached lows of about 2 to 3 C during the week ended Friday.
“There are a lot of later crops out there, and we potentially have to keep an eye on what happens to the wheat,” he said.
Also, Beusekom mentioned, “we’re back to barley and feed wheat,” with very little corn coming up from the United States.
— Marlo Glass writes for MarketsFarm, a Glacier FarmMedia division specializing in grain and commodity market analysis and reporting.