Feed Grains: Mexico to head south looking for corn

By Commodity News Service Canada

Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Tuesday, May 9.
Feed barley bids in Manitoba were hanging steady, according to information from the Prairie Ag Hotwire. Prices are listed at C$2.80 to $3.25 per bushel.
It appears much of eastern Manitoba’s winter wheat crop did not survive the winter, according to the province’s latest crop report.
India’s wheat output is expected to be record large for 2016/17. The government pegged wheat output for the year (which ends next month) at 97.44 million tonnes. The report cites good monsoon weather as the key reason why.

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Trade officials from Mexico are heading to Argentina and Brazil in an effort to secure new sources of yellow corn, according to various reports. The trade group, composed of 16 different companies, will head to Buenos Aires first followed by Sao Paulo. Mexico is eager to find new partners in the event trade action is launched by US President Donald Trump.
Chicago Board of Trade corn futures eked out tiny gains on Tuesday as ideas persist that US farmers may start to swap out corn acres in favour of soybeans. Positioning ahead of the USDA report was a feature of the session.
Feed wheat bids in the key cattle feeding area of
Lethbridge, Alberta were in the C$185 to C$195 per tonne range
as of May 8, which was five dollars higher compared to the previous week, according to the latest pricing information from the provincial government. Feed barley prices were up two to ten dollars compared to the previous week, at C$170 to C$175 per tonne in Lethbridge.