Feed Grains: Excess rain cuts into Argentine wheat acreage
By Commodity News Service Canada
Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Friday, August 4.
Feed wheat bids in the key cattle feeding area of Lethbridge, Alberta were in the C$228 to C$230 per tonne range as of July 28, which was eight to ten dollars higher compared to the previous week, according to the latest pricing information from the provincial government. Feed barley prices were roughly three to eight dollars lower, at C$192 to C$200 per tonne in Lethbridge.
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Bids for feed wheat in Saskatchewan were five cents higher last week, according to the latest information from the Prairie Ag Hotwire. Prices are listed at C$3.15 to C$5.20 per bushel.
Prices for oats in Manitoba were down seven cents, according to the Hotwire. Prices are listed at C$2.95 to C$3.16 per bushel.
Excess rain has crimped Argentine wheat planting efforts. According to the USDA office in Buenos Aires, this year’s crop is expected to be 12.8 million acres. That compares to last year’s total of 13.8 million acres.
Spring wheat yields in North Dakota are 23 percent below the multi-year averages, according to the Wheat Quality Council.
Chicago Board of Trade corn futures declined by one cent on Friday after traders engaged in chart-based trading for most of the day. US ethanol production for the week was down slightly, which dragged on prices. However, dryness in the US Corn Belt continued to underpin values.
