By Commodity News Service Canada
WINNIPEG, Sept. 6 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Tuesday, September 6.
– CBOT corn futures held relatively steady on Tuesday, with most contracts up by less than a cent. Solid export demand on the one hand was countered by rising production estimates on the other. The December contract settled unchanged at US$3.2850 per bushel.
– The Russian government will waive wheat export duties for two years, according to reports.
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– Meanwhile, India is said to be considering reducing or eliminating its import tariffs on wheat, as poor domestic production in recent years caused stocks to tighten. The country is not normally a major wheat importer, but has already bought 600,000 tonnes in 2016—which marks its largest purchase in nine years.
– China’s Heilongjiang province is offering subsidies to farmers planting soybeans in an effort to draw more area out of corn. The country is sitting on large corn stockpiles and is looking to reduce those supplies while also growing more soybeans domestically.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$166 to C$170 per tonne range as of September 2. Feed wheat prices were in the C$181 to C$205 range.
