Feed Cost Commentary
Understanding feed cost trends is critical for managing margins. Each month, we review current market conditions and key drivers influencing ingredient pricing across Western Canada.
July 2026
Feed ingredient markets across Alberta remain firm as we move through July, with limited farmer selling, steady demand, and logistical challenges continuing to support pricing and tighten nearby availability.
Grain Markets showing signs of softening
Feed grain markets across Alberta have softened modestly over the past month as improved moister conditions have supported crop development and encouraged additional farmer selling. As harvest draws closer, new crop wheat and barley supplies are expected to increase, improving market availability.
Barley continues to trade at only a narrow discount to wheat, supported by steady feed demand and limited old crop inventories. While harvest pressure is expected to create seasonal buying opportunities, significant declines in barley prices may be limited due to ongoing demand fundamentals.
Corn and protein markets
Imported U.S. corn remains competitively priced and continues to be an attractive ingredient in many feed rations. However, landed corn values remain highly sensitive to movements in the Canadian dollar, freight costs, and U.S. futures markets, making currency an important factor to monitor in the weeks ahead.
Soybean meal continues to be the most volatile ingredient in the feed complex. Market direction will largely depend on U.S. crop weather throughout July and August, with any deterioration in growing conditions having the potential to push prices higher.
Canola meal continues to provide excellent value relative to soybean meal and remains a cost-effective protein for Western Canadian producers. Strong domestic crush demand is expected to continue supporting the canola market over the longer term.
What to watch
Pea supplies remain limited as grower selling continues at a slow pace. Although prices have remained relatively steady, securing larger nearby volumes may continue to be challenging.
Looking ahead, market attention will remain focused on:
- North American weather conditions
- Prairie crop development and harvest expectations
- Farmer selling activity
- Movements in the Canadian dollar
These factors are expected to play a significant role in determining feed ingredient pricing opportunities as the industry moves toward the fall.
Key Takeaway
Feed ingredient markets are generally in a more favourable position than earlier this spring, with improved growing conditions helping to ease price pressure. While harvest may provide additional buying opportunities, producers should continue monitoring weather, currency movements, and crop development closely, as these factors will likely shape feed costs through the remainder of the summer and into the fall.
