Feed Grains: Mexico looks to Brazil for corn

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Published: May 19, 2017

By Commodity News Service Canada

WINNIPEG, May 19 (CNS Canada) – Mexico will be buying record amounts of Brazilian corn this year, according to reports, as the looming renegotiation of the North American Free Trade Agreement (NAFTA) has the country looking to alternatives to US imports.

Argentina’s corn harvest is nearing completion, with production of about 40 million tonnes well above the previous year’s crop, according to the latest estimates from the country’s corn producers association, MaizAr.

Planting of spring grains in Ukraine is also nearly finished, with 94 per cent of intended acres in the ground as of May 19, according to a report from UkrAgroConsult.

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Chicago Board of Trade corn futures were stronger on Friday, as weakness in the US dollar and concerns over wet weather in parts of the Midwest provided support.

Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$170 to C$175 per tonne range as of May 12, which were steady compared to the previous week, according to the latest pricing information from the provincial government. Top end feed wheat prices were up slightly, at C$187 to C$196 per tonne in Lethbridge.

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