Winnipeg, (MarketsFarm) – Western Canadian feed grain markets are showing some stability heading into the New Year, as buyers have generally booked coverage over the holiday season.
“Everybody is just waiting to see what will happen,” said Mike Fleischhauer, of Eagle Commodities in Lethbridge, Alta.
While large amounts of tough grain was moving, he said there was also plenty of drier grain available that growers were holding off on selling in hopes of seeing higher prices later in the marketing year.
However, trucking remains an issue, with the tight transportation exaggerated by the holiday season.
“Everybody is on holidays and taking some time off, but the cattle still need to eat, every day,” said Fleischhauer.
A number of unit trains bringing grain from Saskatchewan arrived in recent weeks, taken some pressure off of the market, said Fleischhauer. However, not much corn was coming up from the United States, due in part to the poorer quality of the U.S. crop.
Barley has traded around the C$225 per tonne area for the past several weeks, with feed wheat generally a few dollars per tonne higher.