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Western Canadian feedlots keep buying US corn imports, which is putting pressure on feed barley and wheat prices. Buyers are now looking at deliveries into March through June because supply is ample.
Analysts expect farmers to plant fewer barley acres in spring, which could support prices later.
Heavy corn imports are substituting for domestic feed grains and weighing on near-term barley and wheat prices, while expected lower acreage could firm prices later in 2024.
grainews.caGFM Network NewsJan 25, 2024After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
Not enough comparable past events yet for a historical read.
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.
