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Feed grain bids in Western Canada kept rising as heat and dryness covered the region. The high-delivered feed wheat bid in Saskatchewan reached $8.50/bu, and feed barley bids in Saskatchewan and Manitoba reached $7/bu, both up $1 since June.
Brokers expect a poor harvest.
Poor crop expectations in the Prairies tighten local feed grain supply, keeping upward pressure on feed wheat and barley prices into the new crop.
grainews.caGFM Network NewsJul 23, 2021Not enough comparable past events yet for a historical read.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Western Canadian drought and heat pushed feed barley bids up about $1/bu since June with a poor harvest expected, a supply shock that fits a sharp barley rally.
