By Commodity News Service Canada
WINNIPEG, May 30 (CNS Canada) – The US corn crop was rated 65 per cent good-to-excellent in the first USDA condition ratings of the year, released after the markets closed on Tuesday. That compares with 72 per cent at the same point a year ago.
Seeding of the US corn crop is now 91 per cent complete, which compares with 84 per cent the previous week and the five-year average of 93 per cent.
Chicago Board of Trade corn futures were lower on Tuesday, as relatively favourable US crop conditions and losses in soybeans weighed on prices.
Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$176 to C$183 per tonne range as of May 26, which was an improvement of about three dollars a bushel on the top end compared to the previous week, according to the latest pricing information from the provincial government. Top end feed wheat prices were down slightly, at C$195 to C$196 per tonne in Lethbridge.
