By Commodity News Service Canada
WINNIPEG, June 30 (CNS Canada) – European barley production this year will be lower than earlier thought, according to updated projections from the European Commission and the International Grains Council. After growing 59.6 million tonnes in 2016, the Commission now places the crop at 57.0 million, while the IGC is at 58.8 million. Dryness in Spain and France was behind the downgrade.
US corn acres were estimated at 90.9 million acres by the USDA, which would be up by about a million acres from an earlier estimate but still well below the 94.0 million seeded the previous year.
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US barley acres are estimated at 2.5 million acres, which compares with the 2.8 million seeded in 2016.
Corn stocks in the US, as of June 1, came in at 5.2 million tonnes, which was about 500,000 tonnes above the supplies on hand at the same point a year ago.
Corn futures at the Chicago Board of Trade were up by ten to twelve cents per bushel on Friday.
Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$177 to C$181 per tonne range as of June 23, which was down by about two dollars per bushel on the top end compared to the previous week, according to the latest pricing information from the provincial government. Top end feed wheat prices were steady at C$192 to C$198 per tonne in Lethbridge.
