Feed Grain Update - June 2020

Good afternoon,
 
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.  
 
Richard Chambers
Quality Grain Marketing
1-204-729-1354  -Office
1-204-761-8320 - Cell
[email protected]
www.QualityGrain.ca