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Current price indications point to fewer canola and barley acres in Canada for 2024, with a rebound in oat and lentil acres. Canola has slumped to slightly more than C$15 a bushel, about C$4 below a year ago, and feed barley and spring wheat are each down by roughly C$2 or more.
Durum has slipped to about C$13 after growers had hoped for higher prices amid drought.
Lower prices reduce crop insurance values and the incentive to plant alternatives, which shifts acreage away from barley and toward oats. Weaker barley and wheat values, combined with Chinese feed barley buying from Australia, point to softer feed grain prices, while firmer oats prices reflect tighter carryover.
ukragroconsult.comOct 30, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
