Feed Grains: Large AUS wheat crops cheap for feed producers

By Commodity News Service Canada

WINNIPEG, August 9 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Tuesday, August 9, 2016.

– Australia is preparing for its second largest wheat crop on record, with a forecast calling for approximately 25.5 million tonnes for 2016/17, according to reports. Prices have dropped lower than they have been in years, prompting feed makers to lock in prices as far forward as they can.

– New Zealand farm company Landcorp will ban its farmers from using palm kernel expeller (PKE) in feed by June 2017, according to a Reuters report. The product, which is what’s left of the palm kernel after the oil has been extracted, supports the palm industry, which is under fire by environmentalists for rainforest destruction.

– Hay prices throughout the Midwest remain steady, with grade 1 hay selling for US$131 per large square on average, according to the most recent Hay Market Demand and Price Report. Supply exceeds demand in light trading.

– Top feed wheat prices in Saskatchewan rose 15 cents to C$5.25 per bushel, according to Prairie Ag Hotwire.

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