By Commodity News Service Canada
WINNIPEG, March 30 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Wednesday, March 30.
– CBOT corn futures were weaker on Wednesday, as traders await the USDA’s acreage and stocks reports out on Thursday. The May contract was down by six cents at US$3.67 per bushel.
– Pre-report guesses are generally calling for an increase in US corn area compared to the previous year, with many trade guesses topping 90 million acres. Quarterly stocks are also generally expected to be large, possibly hitting their biggest level for March 1 in thirty years.
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By Commodity News Service Canada Winnipeg, Jan. 19 (CNS) – Following are a few highlights in the Canadian and world…
– Tuesday’s news that China would stop offering minimum prices for domestically grown corn also remained a bearish influence in the global feed grain market.
– Improving weather forecasts should allow US farmers to make good progress seeding this year’s corn crop, after excess moisture had caused some early delays. Meanwhile, Brazilian farmers are nearly finished seeding the second corn crop in the state of Mato Grosso, according to reports.
– South Africa will be forced to import a record 3.5 million tonnes of corn this year, due to drought conditions, but industry participants in the country are optimistic that it will be able to return as a net exporter in 2016/17.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$210 to C$217 per tonne area as of March 25, which was up by about five dollars per tonne over the week, according to provincial reports. Feed wheat prices were in the C$230 to C$238 range, which was up by three dollars on the top end.
