By Commodity News Service Canada
Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Friday, March 10.
Saskatchewan’s Water Security Agency says spring runoff in the province will be worse in some parts than initially expected. The southeast corner of the province will experience above-normal amounts of runoff along with the Red Deer River basin in the east-central area of the province.
Brazil’s agricultural bureau, Conab, hiked its estimate for this year’s corn harvest, pegging it at 89 million tonnes. That is 1.6 million tonnes higher than last year.
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The USDA also increased its forecast for world wheat ending stocks by a slight margin. The agency predicted they would total 249.94 million tonnes.
According to FranceAgriMer, the quality of winter crops in France has fallen. The amount of winter wheat in good and excellent condition has declined by one percent to 92 percent. Winter barley is down to 88 percent from 90 percent.
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 in Chicago fell one to two cents per bushel on Friday in follow-through selling. The market was still under pressure from yesterday’s USDA forecast which raised its forecast for global ending stocks. Favourable weather conditions in South America added to the downside.
