By Commodity News Service Canada
WINNIPEG, May 4 (CNS Canada) – Improving US crop conditions and better-than-expected results from a much watched crop tour of the US Plains accounted for heavy selling in the US wheat markets on Thursday.
The annual Wheat Quality Council crop tour placed wheat yields in Kansas at 46.1 bushels per acre, which would be well above the five-year average for the tour of 41.6 bu/ac. However, question marks remain on the size of the crop, as the late-season snows that hit parts of the state made it difficult to assess the extent of the damage.
Chicago Board of Trade corn futures were lower on Thursday as the sell-off in wheat spilled over to weigh on prices.
Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$149 to C$157 per tonne range as of April 28, which were down slightly compared to the previous week, according to the latest pricing information from the provincial government. Top end feed wheat prices were up slightly, at C$180 to C$190 per tonne in Lethbridge.
