Feed weekly outlook: Grain prices mostly steady through market turmoil

MarketsFarm — Despite commotion in markets due to economic impact from the COVID-19 coronavirus pandemic, feed grain prices have been steady, according to Nelson Neumann of Agfinity in Edmonton.

Feed prices were in a steady decline since the cold snap around the beginning of January, he said.

“This week/last week, we haven’t seen the price change too much. I wouldn’t say it’s troughed because I don’t see a lot of upside in the market, but I think it’s relatively stabilized,” he said.

Prairie Ag Hotwire bears that out, with western Canadian feed barley prices remaining steady.

In Saskatchewan and Manitoba, barley prices didn’t change, and ranged from $3.32 to $4.07 per bushel delivered in Saskatchewan. Prices were a little better in Manitoba at $4-$4.15/bu. There was some change in Alberta as barley slipped seven cents, ranging from $3.81 to $4.90/bu. delivered.

It’s a similar story in feed wheat, with no changes over the week in Saskatchewan and Manitoba. Wheat delivered in Saskatchewan was $4.92-$5.75/bu and $5.07-$5.10 in Manitoba — but in Alberta there was a 19-cent drop, to $4.93-$6.34/bu.

May is set to be extremely busy, Neumann said, as farmers will be planting and trying to finish off what’s left of last year’s harvest. The quality of that second harvest remains to be seen.

Also, he said, there doesn’t appear to be a premium for June/July feed — at least not at this time.

— Glen Hallick reports for MarketsFarm from Winnipeg.