By Commodity News Service Canada
WINNIPEG, Feb. 27 (CNS Canada) – World corn production is expected to be down in 2017/18 due to a decline in seeded acres, according to a report from the International Grains Council.
In its first forecast for the new crop year, the IGC pegged world corn production at 1.023 billion tonnes, which would be down 26 million tonnes from the record crop grown in 2016/17.
China, usually a major world corn importer, made some recent sales on the export market to Japan as transportation delays in the US forced some customers to look to alternatives.
Chicago Board of Trade corn futures were down on Monday, as sharp losses in wheat spilled over to weigh on values.
Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$154 to C$164 per tonne range as of February 24, which were down slightly compared to the previous week, according to the latest pricing information from the provincial government. Top end feed wheat prices were also down, at C$170 to C$180 per tonne in Lethbridge.
