Feed Grains: Record grain crops bankrupting Russian producers

Feed Grains: Record grain crops bankrupting Russian producers

By Commodity News Service Canada

WINNIPEG, August 16 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Tuesday, August 16.

– Excess moisture has given Alberta wheat crops a boost. With harvest expected to start a week ahead of schedule, producers are estimating higher than average yields between 35 to 40 bushels an acre, according to reports.

– Russian grain producers are asking the government to strengthen grain interventions in the midst of record grain harvests, as the sharp increase of grain in the market has drastically reduced prices and put many small farms in jeopardy of going bankrupt, according to reports.

– Egypt, the world’s biggest wheat buyer, has tightened restrictions on grain imports by enforcing a new rule that prevents some grain vessels from unloading until they pass a final inspection, according to Bloomberg. The new rule could raise costs for shippers, who will have to stay at port while awaiting grain approval.

– Feed barley in Alberta dropped 22 Canadian cents to sit at top prices of C$3.96 per bushel, according to Prairie Ag Hotwire. Top prices in Saskatchewan and Manitoba remained steady at C$2.74 and C$2.60 per bushel.

– Feed wheat in Saskatchewan fell 25 Canadian cents, leaving top prices sitting at an even C$5.00 per bushel, according to Prairie Ag Hotwire.

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