By Commodity News Service Canada
WINNIPEG, April 26 (CNS Canada) – Cargill Inc. will be exiting the cattle feeding business, steering efforts toward other investments, according to reports on Wednesday. The company will be selling its last two feedlots to ethanol producer Green Plains Inc.
Corn futures at the Chicago Board of Trade closed about five to six cents per bushel lower on Wednesday, handing back yesterday’s advances.
However, reports of rain in the US Corn Belt may mean slower seeding of the commodity, and the potential for some acres of the grain to be shifted into soybeans.
Feed barley spot prices are hovering around C$2.50 to C$3.48 per bushel in Western Canada, according to data from Prairie Ag Hotwire on Wednesday.
Feed wheat spot prices are about C$3.00 to C$5.06 per bushel in Western Canada, Prairie Ag Hotwire said.
