Declining Feedgrain Prices

[errolanderson]

Group . . . there is now a general drop
in feed prices across Western Canada.
Don't believe this is surprising anyone,
but it should offer some welcome relief
to your feeding margins. IMO . . . the
lows have yet to be seen for wheat and
barley and pellets. U.S. corn prices are
breaking, cash corn may break below
$4.50/bu over the next few weeks . . .

Feeders . . . keep your powder dry. The
export barley market is not at a premium
suggesting that you are now gaining
bargaining power.

All the best in your marketing
decisions. Let's get these margins back
in the black . . . .

[errolanderson]

A quick update on U.S. corn ratings as
of Sunday, July 7th.

Corn is now rated 68% good-to-excellent,
up 1% from a week ago. The ten (10) year
average for this time of year is 65%.

Last year at this time, corn ratings
were only 40% good-to-excellent.

USDA monthly report on Thursday will
give U.S. gov't estimate on yields.
My guess is corn yield will be estimated
between 157 to 160 bu/acre. This could
nearly triple the 2013-14 carryout of
U.S. corn from a year ago.