By Jamie Martin
In the early weeks of the 2024-25 marketing year, Canadian purchases of U.S. corn have markedly decreased.
Data from the U.S. Department of Agriculture indicates that as of September 12, only 1,400 tonnes of U.S. corn were sold to Canada, with total commitments standing at 56,900 tonnes. This is a stark contrast to the 721,100 tonnes recorded by this time last year.
The slowdown in imports is largely due to substantial carry-in supplies of barley in Canada. Statistics Canada reports that old crop barley inventories are at their highest in six years, up 72% from last year, totaling 1.2 million tonnes.
Despite a forecasted drop in barley production to 7.6 million tonnes this year, these ample stocks are sufficient to meet current demand, thus reducing the need for imported corn.
Feed barley prices in the Lethbridge area of Alberta are currently ranging between C$265 and C$272 per tonne, only slightly higher than last week, and still competitive against delivered corn prices of C$288 per tonne.
This trend highlights a temporary shift in Canada’s grain import patterns, influenced by domestic crop yields and pricing dynamics within the feed market. As the year progresses, it will be crucial to monitor these trends for potential impacts on North American agricultural markets.
Photo Credit: usda
Categories: National