Feed Grains: US sees high quality corn crop

By Commodity News Service Canada

Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Tuesday, December 22.

– CBOT corn futures settled lower on Tuesday, losing 5.75 cents in the March contract to settle at US$3.6625 per bushel.

– Roughly 94% of the US corn crop hit the number 2 or better quality standard in 2015/16, according to the annual harvest quality report from the US Grain Council.

– Ukraine is expected to see a larger barley crop in 2016, as increased seedings should more than make up for anticipated declines in yields, according to a report from UkrAgroConsult. Total production of the grain is forecast at 8.8 million tonnes by the group, which would be up from the 8.2 million grown in 2015.

– Chinese DDGS imports declined by 30% in November, compared to the previous month, but are still running well ahead of the previous year’s pace, according to customs data out of the country. China has imported 6.4 million tonnes of the ethanol byproduct during the 11 months-to-date.

– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$215 to C$217 per tonne area as of December 18, according to provincial reports. Feed wheat prices are in the C$226 to C$230 range.

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