By Commodity News Service Canada
July 20 (CNS Canada) – Chicago corn is up 8.5 U.S. cents for both the September and December contracts today to US$3.91 for September and US$4.0475 for December. Prices were lifted on expectations that hot weather will continue and stress crops during the key pollination phase.
Feed barley being offered for sale on Agfinity.com ranged from C$3.30 per bushel FOB Neilburg, Sask., to C$4.25 per bu. at Olds, Alta.
Russian corn exports have set a record with two months yet to go in the season. Vietnam has taken 16 per cent of Russia’s corn exports, according to consulting firm UkrAgroConsult.
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Russia also saw increases of more than 4.5 times the previous year in shipments to Iran. Increases in exports to these countries, as well as to Japan, offset reductions to the European Union, Turkey, Lebanon and Syria.
The Saudi Grains Organization, Saudi Arabia’s state-controlled wheat agency, has called for international tenders on 1.5 million tonnes of feed barley. The call is for September/October delivery.
Belarus hopes to reduce the amount it spends on soybean meal for livestock feed by producing a protein of its own. Belarus spends as much as US$500 million per year on soybean meal, said a report in UkrAgroConsult.
Dmitry Luzhinksy at the Farming Center at the National Academy of Sciences said plant breeders in the country are working on developing high protein pulses that grow well in their region. Those include peas, lupines and vetch, he said.
UkrAgroConsult has reported that Romania exported 38 million tonnes of barley, close to what it exported in May 2016 at 39.4 million tonnes.
