By Commodity News Service Canada
WINNIPEG, April 25 (CNS Canada) – Corn futures at the Chicago Board of Trade closed about five to six cents per bushel higher on Tuesday. Analysts expect that market to stay largely range-bound in the near term, as US crop conditions become clear and South American production weighs.
As far as US corn production goes, seeding of the grain is expected to be at 17 per cent as of this past Sunday, the United States Department of Agriculture (USDA) said in its latest weekly crop progress report.
That compares with last year’s 28 per cent seeded, and a five-year average of 18 per cent.
Feed barley spot prices are hovering around C$2.40 to C$3.48 per bushel in Western Canada, according to data from Prairie Ag Hotwire on Tuesday.
Feed wheat spot prices are about C$3.00 to C$5.06 per bushel in Western Canada, Prairie Ag Hotwire said.
