By Commodity News Service Canada
Winnipeg, Feb 6 – Following are a few highlights in the Canadian
and world feed grains markets on Monday, February 6.
Wheat prices in Spain are rising rapidly. According to the
government’s Ministry of Agriculture, prices have gained for the
fourth consecutive week. The average price paid for corn is also
climbing.
CBOT corn futures ended slightly lower on Monday due to
technical selling. The crop in South America looks very large,
which was bearish. Losses in crude oil added to the downside.
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Monitor, 95 percent of Oklahoma is covered by drought. Kansas is
also looking very dry at this point. Nearly 65 percent of the
state is considered to be in the stages of a drought. On the
opposite end of the spectrum is Texas, with just eight percent
of the state meeting the criteria needed for a drought
designation.
Barley exports in Australia continue to surge. The USDA’s
attache in the land down under pegged barley exports at 7.4
million tonnes in 2016-17, which was up 37 percent relative to
the previous year.
Feed barley bids in the key cattle feeding area of
Lethbridge, Alberta were in the C$158 to C$168 per tonne range
as of February 3, which were about two dollars weaker compared
to the previous week, according to the latest pricing
information from the provincial government. Feed wheat prices
were also a few dollars lower, coming in at C$175 to C$185 per
tonne in Lethbridge.
