By Commodity News Service Canada
WINNIPEG, Sept. 8 (CNS Canada) – More grain will be around at the end of the 2017/18 crop year than earlier thought, according to updated estimates from the United Nation’s Food and Agriculture Organization (FAO). The FAO upped its world grain carryout projection by 15 million, to 719.2 million tonnes. Large Russian crops were behind the increase, with the total ending stocks comparing to the 705.4 million tonnes estimated for 2016/17.
The large grain supplies contributed to the FAO lowering its world food price index for August by 1.3 per cent from the previous month in a separate report.
Corn futures at the Chicago Board of Trade posted small gains on Friday, as traders squared positions ahead of the weekend and the September 12 USDA supply/demand estimates.
Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$185 to C$197 per tonne range as of September 1, according to the latest pricing information from the provincial government. Top end feed wheat prices ranged from C$210 to C$225 per tonne in Lethbridge.
