By Commodity News Service Canada
July 18 (CNS Canada) – The domestic barley market appears set to go through some adjustments, amid reports of rising barley prices and dry conditions in Saskatchewan and Alberta. Drought in North Dakota and Montana is compounding the issue. Some analysts now wonder how long before imports of dried distillers grains increase as cattle feeders look for other feed sources. Additional corn imports may also be on the horizon as a feeding substitute in Canadian feedlots.
Elevator bids for feed barley on July 14, delivered to central Alberta were C$155.44 per tonne. Barley at Lethbridge was reported at C$199-C$212 for the week ending July 10, compared to C$180-C$195 the previous week.
Chicago Corn closed up two cents U.S. at US$3.77 per bushel. December was at US$3.9075 up 2.75 cents U.S. As corn enters a key time for development, meteorologists’ weather models suggest more rain later in the week, which could benefit yields. Many analysts predict a volatile weather market for the rest of July.
