Feed Grains: Indonesia backing away from feed market

By Commodity News Service Canada

WINNIPEG, Jan. 18 (CNS Canada) – Indonesian corn production is up considerably on the year, which may limit the country’s feed grain imports in 2017. After importing 2 million tonnes of feed wheat and 840,000 tonnes of corn in 2016, the Indonesian Feed Association expects that the country’s feed imports may drop to zero by 2018 “at the latest.”

While Indonesia may be backing away from the import market, Mexico is reportedly looking to bring in more corn due in part to high local input costs, according to reports.

Corn futures at the Chicago Board of Trade held steady on Wednesday, as concerns over Argentina’s crop were countered by relatively favourable prospects out of Brazil. Chart resistance also held to the upside.

Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$165 to C$170 per tonne range as of January 13, which were relatively steady compared to the previous week, according to the latest pricing information from the provincial government. Top end feed wheat prices were also steady, at C$182 to C$187 per tonne in Lethbridge.

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