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Variable crop conditions in Alberta and Saskatchewan, including dryness around Red Deer and parts of Saskatchewan, are lifting Prairie feed grain prices weeks before harvest. Feed barley bids in Alberta rose 13 cents to C$9.38/bu, and feed wheat in Alberta rose 22 cents to C$11.59/bu.
Feedlot demand for feed grains is quiet, with buyers mainly ordering US corn at C$270-275/t.
Dry patches on the Prairies and firmer feed barley and wheat bids raise replacement costs for feed users, though quiet demand limits the upside before harvest.
agcanada.comAGCanadaJul 27, 2023Not 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.
After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% 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.
