Feed Grains: Argentina reports record ethanol production

By Commodity News Service Canada

WINNIPEG, Feb. 2 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Tuesday, February 2.

– CBOT corn futures were stronger on Tuesday, with the March contract up 1.25 cents at US$3.7250 per bushel.

– US ethanol producers used 444.5 million bushels of corn for ethanol production in December, according to a USDA report. That was up 2 per cent from the previous month, but down by 3 per cent from the same month the previous year.

– Argentina produced a record amount of ethanol in 2015, according to a report from the Argentinian Association of Biofuels and Hydrogen. The 815 million litres produced were up by 23 per cent from the previous year, with corn-based ethanol accounting for 479 million litres of the total. Some analysts predict that the country will produce over a billion litres of ethanol in 2016.

– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$209 to C$215 per tonne area as of January 29, which was unchanged compared to the previous week, according to provincial reports. Feed wheat prices were in the C$222 to C$230 range, which were down slightly from the previous week.

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