Feed Grains: Indonesia looks to eradicate feed corn imports

By Commodity News Service Canada

Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Tuesday, June 6.
Bids for feed wheat in Saskatchewan rose 20 cents last week, according to the latest information from the Prairie Ag Hotwire. Prices are now listed at C$3.50 to C$5.00 per bushel.
Prices for oats in Saskatchewan are holding steady, according to the Hotwire. Prices are listed at C$2.50 to C$3.17 per bushel.
In North Dakota, oat bids fell two cents and are now listed at C$2.37 a bushel.

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Indonesia is taking steps to drastically reduce its imports of feed corn. A report in The Jakarta Post says the government has set a new floor price for domestic farmers to encourage higher production. Back in 2011, Indonesia imported more than three million tonnes of corn for feed use, however that number dropped to 885,000 tonnes in 2016. The government is ultimately hoping to reduce imports to zero.
The US spring wheat crop is preparing for more hot weather. Much of the US Plains and the Midwest are expected to be “dry or completely dry” according to a report in Agrimoney. South Dakota and North Dakota are also expected to be dry. The only exception appears to be in Alabama and Tennessee where significant rains are expected.
Chicago Board of Trade corn futures ended two to four cents higher on Tuesday. The market took strength from the continued reduction of US corn acres as farmers switch to soybeans due to spring rains in the Midwest. Crop conditions in key states like Idaho and Illinois are poorer than last year, which was supportive.
Feed wheat bids in the key cattle feeding area of Lethbridge, Alberta were in the C$195 to C$204 per tonne range as of June 2, which was slightly higher compared to the previous week, according to the latest pricing information from the provincial government. Feed barley prices were up two dollars compared to the previous week, at C$179 to C$185 per tonne in Lethbridge.