The U.S. corn crop is being planted early in good conditions, but that hasn’t threatened Canadian feed grain prices.
Supply and demand are still balancing on a knife’s edge, and that’s why corn is still priced at $3 US per bushel at the Chicago Board of Trade.
“It’s just a recognition that you need a 10 billion bu. corn crop” to meet users’ needs, said Alberta Agriculture market analyst Charlie Pearson.
U.S. corn is unlikely to go into the western Prairies this summer, Pearson said. Barley prices are lower than the $190 per tonne an importer would need to pay to bring corn to Alberta.
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Even if the Prairies produce a big barley crop, good prices will probably be available.
“As long as U.S. corn stays up there at some of these high levels, there are some excellent opportunities for export markets for next year,” said Pearson.
American corn is the main feed grain produced in North America.
American farmers in the corn belt are busy seeding. Because of dry conditions in Iowa, Nebraska and Kansas, seeding is seven to 10 days ahead of schedule, according to weather analyst Bruce Burnett of the Canadian Wheat Board.
“It looks like they’ll have a good chunk of the crop in earlier than normal,” said Burnett.
U.S. corn seeding can occur before most Canadian prairie seeding. But sometimes weather causes problems.
“Normally at this time of year they receive rain, and that can keep them out of the fields for a week or two,” said Burnett. “It’s off to a quick start.”
