Feed Grains: Argentina looks to bump up wheat exports

By Commodity News Service Canada

Winnipeg – Following are a few highlights in the Canadian
and world feed grains markets on Monday, January 11.

– CBOT corn futures settled five cents lower Monday, with losses in crude oil pointing the way downward. Traders were also positioning themselves ahead of tomorrow’s USDA quarterly stocks report. The most active March contract was down five cents at US$3.5175 per bushel.

– Argentina appears to be ramping up its wheat export marketing. The country recently secured a sale to Egypt while making bids very competitive with Russian suppliers, according to a marketing director for the North Dakota Wheat Commission. At the same time, he noted low protein levels and some other weather-related problems have limited their ability for now.

– A Ukraine-based agronomist says warm rain in southern Ukraine has melted snow in many wheat fields leaving standing crops vulnerable to low temperatures.

– Feed barley bids in the key cattle feeding area of
Lethbridge, Alberta were in the C$205 to C$214 per tonne
area as of January 8, according to provincial reports.
Feed wheat prices were in the C$220 to C$232 range. Both sets of prices are down a few dollars from the previous reporting period of December 18.

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