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Feed grain bids in Western Canada have fallen over the past month as expectations grow for a large barley crop. Statistics Canada estimated the 2019-20 barley crop at 9.6 million tonnes, up 15% and the largest since 2013.
Concerns about frost and wet conditions also pressure feed wheat on possible quality downgrades.
A much larger domestic barley and feed wheat supply should keep Western Canadian feed grain prices under pressure and reduce demand for U.S. corn imports.
grainews.caGFM Network NewsAug 29, 2019Not enough comparable past events yet for a historical read.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
