Feed Grains: Ag Canada lowers barley production estimate

By Commodity News Service Canada

WINNIPEG, Aug. 23 (CNS Canada) – The Kazakhstan grain harvest is moving forward at about 22 per cent complete, according to a report from the country’s agriculture ministry.

Russian corn production is forecast at a record 16.3 million tonnes, according to analytical firm ProZerno. The company’s August report also forecasts record wheat production in the country of 80.1 million tonnes and barley at 19.0 million.

Canada’s barley crop is forecast to be smaller than earlier estimates, according to updated supply/demand data from Agriculture and Agri-Food Canada. The government agency lowered its estimate for barley production in 2017/18 to 7.1 million tonnes, from 7.4 million in July. The country grew 8.8 million tonnes last year. Statistics Canada releases the first survey-based estimates of the year on August 31.

Corn futures at the Chicago Board of Trade were down by three to four cents per bushel, hitting fresh contract lows in the process.

Feed barley bids in the key cattle feeding area of Lethbridge, Alberta ranged from C$171 to C$200 per tonne as of August 18, according to the latest pricing information from the provincial government. Top end feed wheat prices were down slightly, at C$220 to C$235 per tonne in Lethbridge.

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