Your Reading List

Feed Grains: Corn takes dip

Reading Time: 2 minutes

Published: August 8, 2017

By Commodity News Service Canada

WINNIPEG, Aug. 8 (CNS Canada) – The United States Department of Agriculture has lowered its rating for the corn crop. As of Aug. 6, the USDA rated 60 per cent of the country’s corn crop as good to excellent, compared to 74 per cent a year ago.
However, strong global supply overshadowed lower U.S. production prospects on the Chicago Board of Trade, where the December contracts fell 3 cents U.S. per bushel to US$3.83.75/bu with 206,311 traded. The September contract fell 2.5 cents U.S. to US$3.69.75 and March contracts settled today at US$3.95.75, down 2.75 cents U.S.

Read Also

Feed Grains: Iowa Corn Growers President urges U.S. not to leave NAFTA

By Commodity News Service Canada Winnipeg, Jan. 19 (CNS) – Following are a few highlights in the Canadian and world…

The market now awaits release of the USDA’s world grains and oilseeds supply and demand report, which is due Thursday.
Many analysts predict production estimates for 2017 will be cut due to the dryness and heat in much of the U.S. Corn Belt.
USDA also announced new crop corn sales of 7.12 million bushels to Mexico and 7.57 million bushels of old crop to an unknown buyer. Shipments are on pace to meet USDA annual forecast.

Thailand’s total feed wheat imports are expected to decline 27 per cent to about 2.5 million tonnes in 2016-17 compared to the previous year. The decline is credited to the government’s restrictions on feed wheat imports. However, makers of shrimp feed were exempt from the restrictions up to 110,000 tonnes and other importers were expected to raise the final import figure to 3.8 million tonnes for the year.

Quality problems are starting to show in the German wheat crop as harvest there progresses. So far, in the northern region only about 20 per cent of the wheat has been harvested and quality downgrades are being reported. One trader estimated 50 per cent of the wheat in the north of Germany will go for animal feed. Rain during sensitive growing periods has caused stripe rust and yield problems.

Southern Alberta barley were in the C$190 to C$200 per tonne range.

About the author

GFM Network News

GFM Network News

Glacier FarmMedia Feed

Glacier FarmMedia, a division of Glacier Media, is Canada's largest publisher of agricultural news in print and online.

explore

Stories from our other publications