Glacier FarmMedia – Farmers still holding onto old crop feed barley in hopes of better prices may be out of luck this year, as bids continue to drift lower with attention in the market turning to the upcoming new crop.
“Prices have been dropping… almost daily,” said Larry Green, of Giddyupp Grain Brokers in Alberta. He noted that farmers with unpriced grain still in their bin were “stuck between a rock and a hard place,” with some likely now forced to sell at lower prices to make room for the looming new crop harvest.
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“It’s just a steady downward trend, and I don’t see any end in sight for at least the next month,” said Green. However, at that time, seasonal harvest pressure will likely limit any upside potential.
While any production issues through the growing season could support prices, that would come at the expense of reduced yields and lower returns overall. Total Canadian barley area was down 13 per cent on the year, at 6.4 million acres, according to Statistics Canada.
While the market may be trending lower, Green noted that the best prices of the 2023/24 marketing year came at harvest time. He added that there had been good new crop pricing opportunities a few months ago, but those were all gone for the time being.
Looking at the developing crops, while there are some areas of concern, the overall outlook is positive for the time being. Green said moisture will be critical through July, with temperatures turning hotter.
