Feed weekly outlook: Market steady in face of harvest, U.S. corn imports

MarketsFarm — The feed grain market in Western Canada is holding reasonably steady as harvest operations progress and corn imports continue to come up from the United States.

Anecdotal harvest reports were varied so far, with surprisingly positive results from some growers and others who missed out on showers ending up with lower yields, according to Matt Beusekom of Market Place Commodities in Lethbridge.

He expected barley yields would be slightly below average on dryland overall but added “the quality has been fantastic,” with good bushel weights despite the dryness.

Wheat crops were also in good shape, which may limit feed wheat supplies if the weather continues to co-operate through the harvest.

If there’s a wet fall, it could hurt the quality of what’s left out on the fields, especially in southern Alberta.

Meanwhile, “feeders have been feeding U.S. corn and have continued to feed U.S. corn right through the barley harvest,” said Beusekom, noting the imports will cut into feed barley demand and keep a lid on prices.

Barley was currently trading at $370 per tonne into Lethbridge, which was roughly on par with U.S. corn imports.

— Phil Franz-Warkentin is an associate editor/analyst with MarketsFarm in Winnipeg.