By Commodity News Service Canada
WINNIPEG, Nov. 17 (CNS Canada) – Export movement of US feed grains was brisk over the past week, with both corn and sorghum seeing solid movement.
The US Department of Agriculture reported weekly US corn sales of 1.6 million tonnes, which was the second-best of the crop year to date. Sorghum sales were the third-best of the year.
Corn futures at the Chicago Board of Trade were higher on Wednesday, as solid export demand was more than enough to counter the bearish influence of the large US supply situation.
Canada is also sitting on large feed grain supplies this year, with quality downgrades a feature in all crops.
Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$172 to C$180 per tonne range as of November 11, which was relatively steady compared to the previous week, according to the latest pricing information from the provincial government. Top end feed wheat prices were off slightly, to range from C$188 to C$190 per tonne in Lethbridge.
