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Poor harvest weather has downgraded many Prairie wheat crops into feed channels, but feed buyers are slow to purchase. Feed wheat is around C$240-250 per tonne and feed barley near C$225 per tonne in Manitoba, while Alberta feedlots are largely covered.
Abundant downgraded feed wheat and barley add supply to the feed market with weak near-term demand, which tends to keep feed grain prices soft relative to corn.
grainews.caGFM Network NewsOct 25, 2018After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% over 20.
Not enough comparable past events yet for a historical read.
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.
