Feed Grains: Canadian wheat stocks revised higher

By Commodity News Service Canada

WINNIPEG, April 12 (CNS Canada) – Canadian wheat stocks may be larger than originally thought, both for the old crop and the upcoming 2017 crop that has not yet been seeded, according to updated supply/demand tables from Agriculture and Agri-Food Canada.

The total wheat carryout for 2016/17, which includes durum, other spring wheat, and winter wheat, was raised to 7.3 million tonnes, from 6.8 million in March, by the government agency’s market analysis division. Wheat stocks at the end of the 2017/18 crop year are forecast at 6.2 million, which would be up from an earlier estimate of 5.7 million.

Chicago Board of Trade corn futures were stronger on Thursday, as forecasts calling for wet weather across much of the Midwest continued to provide support amid expectations for seeding delays.

Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$160 to C$165 per tonne range as of April 7, which were down slightly compared to the previous week, according to the latest pricing information from the provincial government. Top end feed wheat prices were steady, at C$180 to C$185 per tonne in Lethbridge.

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