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Dry weather across the Prairies has led buyers to aggressively bid for feed grains ahead of a third consecutive dry summer. Saskatchewan pasture and hay moisture is rated 95% short to very short.
Feed barley trades at C$200-280/tonne, feed wheat at C$260-270, and oats near C$4/bu.
Drought-driven demand for feed grains from tight supplies is lifting feed prices, which raises costs for livestock feeders.
grainews.caMarketsFarm Team, GFM Network NewsJun 14, 2019Not 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 68 past bullish weather events, Oats moved a median -0.8% over 5 sessions (47% higher; middle half -3.6% to +3.9%), 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.
