Feed Grains: Mexican corn production looking good despite lower acres

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Published: March 6, 2017

By Commodity News Service Canada

Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Monday, March 6.
Prices for Saskatchewan feed barley jumped 9 cents over the past week, according to the Prairie Ag Hotwire. Bids are now going for C$2.24-$2.80 a bushel.
Feed wheat bids in Saskatchewan rose 10 cents per bushel on the week to a range of C$3.41-$4.70.
According to a report by the Food and Agriculture Organization of the United Nations, corn crops in Mexico have the potential to reach production levels similar to last year, despite reduced acreage. Corn acreage is expected to be down by eight percent this year, but good weather and a favourable spring could bring it close to the results of last year. In 2016, Mexico produced 27.6 million tonnes of corn.

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Feed barley bids in the key cattle feeding area of
Lethbridge, Alberta were in the C$152 to C$162 per tonne range
as of March 3, which was roughly two dollars weaker compared to the previous week, according to the latest pricing information from the provincial government. Feed wheat prices were the same as the previous week, coming in at C$170 to C$180 per tonne in Lethbridge.
Corn futures at the Chicago Board of Trade ticked lower by one to two cents per bushel to start the week, pressured by a report of bird flu in Tennessee and some technical selling.

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