Feed Grains: Barley stocks looking strong
By Commodity News Service Canada
WINNIPEG Sept. 6 (CNS Canada) – Statistics Canada’s grain and oilseeds supply report shows a sharp increase in barley to 2.122 million tonnes as of July 31 this year compared with 1.443 million tonnes at the same time a year ago, an increase of about 47 per cent.
Wheat stocks, meanwhile, were at five million tonnes, excluding durum, in July, compared to 4.08 million tonnes in July last year
Oat stocks in the StatsCan report fell in a year-over-year comparison to 690,000 tonnes in July 2017 from 930,000 tonnes a year earlier.
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A larger-than-expected harvest in Ukraine is expected to boost that country’s exports by 3.4 per cent for the coming year, according to consulting firm UkrAgroConsult. Ukraine is expected to export 42.06 million tonnes based on a harvest of 63.2 million tonnes of all grains, said UkrAgroConsult.
Of that, 26 million tonnes is expected to be wheat and 8.5 million tonnes are expected to be barley. No corn forecast was offered.
Chicago Board of Trade corn futures continued their trend of positive gains, rising 2.5 cents U.S. to US$3.61 per bushel for the December contract. March and May contracts were also up 2.5 cents U.S. March settled at US$3.73.5 per bu. and May closed the day at US$3.81 per bu. Crop progress reports revealed lower corn condition ratings with progress shown at 60 per cent dented and 12 per cent matured as of Sept. 3, both below historical averages for development.
