By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Nov. 1 (CNS Canada) – Feed grain markets in Western Canada remain relatively firm, with losses in the US grain markets countered by Canada’s own production issues.
Corn futures at the Chicago Board of Trade dropped to the low end of their nearby trading range on Tuesday, as the good US harvest progress weighed on values. The US corn crop was 75 per cent harvested as of this past Sunday, which is right in line with the average for this time of year.
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Canada’s grain harvest is only slightly ahead of that pace in Alberta and Saskatchewan, but the wheat, durum, and barley still on the fields in Western Canada would normally be harvested a long time ago.
The delayed harvest continues to have a mixed influence on feed grains, with the large feed supply projections somewhat bearish, but the poor quality and high disease presence in some of the grain leading to premiums for better quality feed.
Ukraine is also a major player in the world feed grain market, with that country reporting that 88 per cent of intended winter grain acres were seeded as of October 31.
Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$169 to C$175 per tonne range as of October 28, which was relatively steady compared to the previous week, according to the latest pricing information from the provincial government. Top end feed wheat prices also held steady, to range from C$188 to C$190 per tonne in Lethbridge.
