Feed Grains: China to scrap minimum price for domestic corn

By Commodity News Service Canada

WINNIPEG, March 29 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Tuesday, March 29.

– CBOT corn futures were stronger on Tuesday, as traders were squaring positions ahead of the USDA’s prospective plantings and quarterly stocks reports due out on Thursday. The May contract was up by two-and-a-half cents at US$3.73 per bushel.

– Pre-report guesses are generally calling for an increase in US corn area compared to the previous year, with many trade guesses topping 90 million acres. Quarterly stocks are also generally expected to be large, possibly hitting their biggest level for March 1 in thirty years.

– China announced policy changes that will see the country remove minimum prices for domestically grown corn. The move is expected to make locally grown corn cheaper for livestock feeders, which should serve to limit feed grain imports.

– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$210 to C$217 per tonne area as of March 25, which was up by about five dollars per tonne over the week, according to provincial reports. Feed wheat prices were in the C$230 to C$238 range, which was up by three dollars on the top end.

---

Newsletter Sign Up - Get access to essential information on Canada’s cattle industry daily.

One email delivered 6 days a week for ranchers, feedlots, packers and livestock sales operators.

Your Email(Required)

Your Postal Code(Required)

Consent

I consent to receiving emails from Glacier FarmMedia, its affiliates and divisions and third parties, containing agriculture news, updates and promotions. I can unsubscribe at any time

Comments

This field is for validation purposes and should be left unchanged.