It has been a busy spring for all producers this year. Very few could say that they where ready for winter with fall field work complete. In fact, a large percentage still had harvest 2019 to complete when spring came. From talking to producers across the prairies this last few days I would say the majority are finally finished. Most everyone has mentioned that the crops seem to be off to a good start. Last Saturday morning Mother nature tried hard to complicate things with a bit of frost in some locations. Luckily not much if any damage.
Just to prove that after 35 years of farming and 15 years as a grain broker with Quality Grain that I can’t predict anything about the grain markets. Feed grain prices have held up in spite of large volumes of spring thrashed grain coming to market. We are still seeing strong feed wheat prices. $5.50 FOB ($204.50/MT) farm in Western MB and Eastern SK with prices getting stronger as we move east into MB. We are also trading feed wheat at $235-$240 delivered Lethbridge area. This has been great news for anyone who had Falling Number issues with their fall harvested wheat and also if you didn’t get it harvested before winter.
We are seeing barley bids hold stable at $4.00 FOB farm western MB. With better prices in Western SK ($4.40 Maidstone) and AB ($4.75 Eckville). Freight rates are much better than they where in Nov to Jan timeframe so this is allowing grain to move west which always helps prices.
One thing to keep in mind there is still large volumes of 50-53lb corn sitting in farmer’s bins in Eastern MB and North Dakota. If feed wheat or barley is too expensive this corn will pull into rations. We have been shipping some of this corn into AB. As an example, we traded 53 lb corn for $4.32 picked up Carman. I had one sharp manager tell me that if 54 lb corn is $25/MT less than feed wheat it will replace almost all of the feed wheat in a ration. We are very close to that right now.
There has been a very strong run up in peas in the last 6 weeks. We are seeing bids of $7.50 in MB and $8.00 in SK with stronger bids in AB. This seems to be caused by India temperately reducing their tariff on pea imports. This likely will be a short term gain as the peas have to be delivered to India by end of August to quality. That is why we are seeing new crop bids running from $.75 to $1.00 lower. If you still have some peas to market give us a call and we will help you get best price possible.
We are looking for:
Feed wheat – fall and spring thrashed- GREAT current demand.
Oats of all grades.
We always have homes for heated or spring thrashed canola.
Give us a call if you have any questions or would like to pick our brains on current markets.
Until next time. Farm hard but safely.
John Falk Richie Yaremko
Marketer – Altona MB Marketer – Yorkton SK
Victor Dorma Reed McDonald
Marketer - Airdrie AB Owner/Marketer – Calgary AB.
Wes Schneider Howard Warren
Marketer - Vulcan AB Marketer – Champion AB
Robert Rusu Andrew Hall
Marketer - Moose Jaw SK Marketer – Lethbridge AB
204-729-1354 – office
204-761-8320 - cell
This last month has been an interesting time in feed grain markets. In March I would have bet that feed wheat and barley prices would move lower as spring thrashed grain came available. We have not seen that.
Feed barley is holding steady with it selling at $4.10 -$4.25 picked up in western MB. We might see some nice sized lots come available as some of the maltsters are not moving the barley they contracted. Seems with Covid -19 is having a big impact on the sport world and not as much beer is being drank. There will be enough barley available until new crop appears. Talking to producers in MB and SK I would say there is less barley in the ground this year which could make supplies shorter in the next crop year.
Feed wheat is staying strong with bids for fall thrashed, dry, low vom wheat creeping up to $205 FOB farm in eastern SK with bids moving up as the location moves further east. Even the spring thrashed wheat values are staying strong. Bids of $193 fob farm in the Yorkton area last week. $200 FOB farm in Waskada area yesterday. If you are going to need more feed wheat you maybe should start looking now or consider using more corn in your ration.
Corn bids have drifted lower with demand from ethanol production dropping for the last 2.5 months. It looks like that market is going to pick up in the near future but there is still lots of corn around. We have been trading 52-53lb, dry, low vom corn for $172.50 FOB Carman MB farms this week.
Peas have just about worked their way out of rations as values have moved from $210/MT FOB farm in western MB in February to $260 picked up in western MB. We are also seeing some pretty strong bids for new crop yellows so it looks like peas wont be in rations any time soon. We haven’t priced any soymeal lately so not sure where it would trade at.
Hope this helps a bit. If you are looking to source any old crop grain give us a call and we will try to help.
Quality Grain Marketing
1-204-761-8320 - Cell