By Commodity News Service Canada
July 5 (CNS Canada) – Corn crops through most of Manitoba are enjoying recent warm weather and are rated at good to excellent for this time of year, but moisture is needed.
Most corn in the southwest is in the vegetative stage of development, in the V3 to V8 stage in the central region, in the V5 to V7 stage in the eastern region and V6 to V12 in the interlake.
A survey by the United States Department of Agriculture suggests corn and soybean crops in that country will be larger than expected.
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The USDA estimated corn area could reach 90.9 million acres, which would be a three per cent drop from 2016. The agency projected that could mean a total U.S. corn crop of 14.25 billion bushels. However, July, when corn enters its reproductive stage, is the often the key yield-deciding month. But if the weather is favorable and USDA yield estimates become actual yields at harvest, which many analysts consider unlikely, then 2017 would become the second largest corn harvest on record. Combined with 5.23 billion bushels of corn already in storage, it could pressure prices downward.
The following is a random sampling of prices on feed grains offered for sale at Agfinity.com.
– CW feed barley, FOB Gem, Alta., C$4.20 per bushel.
– Feed green peas, FOB Vermillion, Alta., C$6.37 per bushel.
– Spring thrashed oats, FOB Westlock, Alta., C$184 per bushel.
– #2 CWSWS wheat, FOB Goodsoil, Sask., C$5.07 per bushel.
