Prairie Feed Grain Prices Stabilize Amid Rising Fuel Costs
Feed grain prices on the Prairies have stabilized over the past couple of weeks as new grain comes off the fields, according to Brandon Motz of CorNine Commodities in Lacombe, Alta.
Motz noted that farmers are not rushing to sell their crops, which has resulted in a decrease in off-combine movement. This is typically a weaker time for prices in the industry.
The price of feed barley delivered in Lethbridge has dropped slightly to C$295 per tonne for October-November-December delivery, while bids for the same product delivered in the New Year were at C$300/tonne.
Despite this stabilization, Motz warned that rising input and fuel prices are keeping prices elevated. As fuel costs continue to rise, grain buyers will have to 'eat up' those costs.
Motz acknowledged that the market is in a very volatile situation, making it difficult to predict where prices will go over the next few weeks.