Feed Grains: European Union Corn Crop Increasing
By Commodity News Service Canada
Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Monday, August 14.
Feed wheat bids in the key cattle feeding area of Lethbridge, Alberta were in the C$218 to C$235 per tonne range as of August 11. This was seven dollars higher at the low end and five dollars lower at the top end, compared to the previous week, according to the latest pricing information from the provincial government. Feed barley prices were roughly two dollars higher, at C$192 to C$200 per tonne in Lethbridge.
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Bids for feed wheat in Saskatchewan were 20 cents lower, according to the latest information from the Prairie Ag Hotwire. Prices are listed at C$3.05 to C$5.00 per bushel.
Feed barley bids in Manitoba were down five cents last week, at C$3.10 to C$3.25 per bushel.
Prices for oats in Saskatchewan were hanging steady, according to the Hotwire. Prices are listed at C$2.38 to C$3.30 per bushel.
Oat prices in North Dakota are down two cents to C$2.46 a bushel.
The hard red winter wheat harvest of the US Northern Plains is nearly finished. South Dakota and Wyoming are 99 percent complete while Montana is 95 percent complete.
Strategie Grains has bumped up its forecast for corn production in the European Union. The consulting firm pegged the crop in 2017/18 at 58.9 million tonnes, compared to the old forecast of 58.8 million. The agency also raised its prediction for corn imports in the EU from 15.6 million to 15.7 million tonnes.
Chicago Board of Trade corn futures rose one to two cents on Monday. Large funds went bargain-hunting before the close which raised prices. Favourable rains in the US Midwest were bearish for values.
