MarketsFarm — As spring planting approaches, Peter Watt of the Canadian Malting Barley Technical Centre (CMBTC) said there likely won’t be a big shift in barley acres that will be planted in 2023.
“Producers have made their [planting] decisions for the most part. You might see people adjust their plans a little bit based on some of the fluctuations we are seeing in the market right now,” he said.
Agriculture and Agri-Food Canada (AAFC), in its March 2023 report, pegged the amount of barley to go into the ground this year at around 7.4 million acres. That would make for a 5.2 per cent increase over what was planted in 2022.
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Of note, Statistics Canada is scheduled to issue its planted acre projections on April 26.
While malt barley prices are rather steady at this time, Watt pointed to the volatility in commodity futures, noting the recent sharp drop in canola prices and the upticks in wheat.
“Barley prices remain relatively firm in Western Canada. That would still encourage farmers to keep barley in their rotations,” Watt said.
Over the last month, malt barley prices have remained steady for the most part, according to Prairie Ag Hotwire. Old-crop in Saskatchewan continued to sit at $8.10 per bushel delivered, with Alberta at $8.40. In Manitoba, the price slipped back $1.50 at $6.90/bu.
New-crop bids stood at $7.30-$7.70/bu. delivered in Saskatchewan and $7.40 in Alberta. Prices for Manitoba were $6.40-$6.90/bu.
— Glen Hallick reports for MarketsFarm from Winnipeg.
