Grain prices across Western Canada declined due to harvest pressure and good crop outlook. However, there is still reduced farmers’ selling engagement and the dry weather over the past months could lead to a light crop and lower yields. Corn futures received support this week from US hot and dry weather and higher US exports. Protein prices were volatile over the past month given the rail strike. Increased global ending stocks and US crush capacity has driven soymeal prices downwards but futures moved up according to weather news. The FX trends will be an important driver moving forward given the US elections and monetary policy decisions.
- Wheat prices declined and are trading around $265-$275/T delivered to Red Deer. Yields are not that great as early expected and it seems we will have a good volume of feed quality crop this season.
- Barley is trading at $240-$255 delivered to Red Deer/AB.
- Corn prices are at $290-$300/T delivered to Red Deer/AB. China import demand is currently weak but might add volatility to the market in the near term.
- Soymeal prices are trading around $615-$630/T delivered. The market has softened over the past month but the Canadian rail strike added support to local prices. On top of that, weather news and US exports are contributing to a bullish trend at CME.
- Canola meal is priced at $350-$360/T delivered to Red Deer/AB.
- DDGS is priced at $315-$325/T delivered.
- Millrun prices are at $210-$220/T delivered.
Disclaimer: Gowans Feed Consulting presents data as a snapshot of the market using current information available at the time of reporting. These findings are for informational purposes online and should not be reproduced or transmitted by any means without permission. Gowans Feed Consulting does not guarantee and accepts no legal liability arising from or connected to the accuracy, reliability or completeness of this information.
