Feed Grains: US corn harvest in line with average

By Commodity News Service Canada

WINNIPEG, Oct. 24 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Friday, October 24.

– CBOT corn futures settled lower on Monday, as good US harvest conditions and spillover from the losses in wheat weighed on prices. The December contract was down 4.25 cents at US$3.4825 per bushel.

– The US corn crop was 61 per cent harvested as of this past Sunday, according to the latest weekly report from the USDA released after the close. The harvest progress was off the 70 per cent completion rate seen at the same point the previous year, but in line with the five-year average of 62 per cent done.

– China is looking to plant more soybeans and less corn over the next five years, according to reports out of the country.

– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$162 to C$175 per tonne range as of October 21, up by about five dollars compared to the previous week, according to the latest pricing information from the provincial government. Feed wheat prices held steady, to range from C$182 to C$190 per tonne in Lethbridge.

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