The quality of feed grains coming off Prairie fields is a “mixed bag”, as harvest continues, said a Saskatoon-based trader.
“Anywhere from a little disappointing to better than some people thought it was going to be,” said Evan Peterson, of JGL Commodities. “We are dealing with some quality issues with bushel weights in feed grains. But overall, pretty decent.”
Peterson added that southwest Saskatchewan has seen higher-than-anticipated barley yields, but other areas in the province have seen lighter-than-expected bushel weights.
Demand picking up
Despite those issues, demand for feed grains from feedlots has risen with prices. Feed wheat bids ranged from C$9 to C$9.50 per bushel, while those for canola were from C$17 to C$18/bu. However, Peterson said that farmers are in wait-and-see mode.
“Barley’s kind of along for the ride with the higher commodities,” he said. “We’ve been a little stubborn with selling grain in the new crop movement.”
However, buying interest has remained strong.
“It doesn’t seem like coverage was as strong as we’ve kind of anticipated moving into September. There were some thoughts that we’d see the market drop down a little further than it did. It’s kind of halted movement right now and we’re seeing demand pick up a little bit,” Peterson explained.
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