Feed grains: Corn edging down, Japan looking for barley

CNS Canada –– Following are a few highlights in the Canadian and world feed grains markets on Thursday, Oct. 8.

• CBOT corn futures were posting small losses Thursday morning, but were holding rangebound overall as traders were squaring positions ahead of Friday’s USDA monthly supply/demand report. December corn was trading at US$3.9450 per bushel in early activity, down 1.5 cents from Wednesday’s close.

• Feed barley bids in the key cattle feeding area of Lethbridge are in the C$215 to $220 per tonne area, according to provincial reports. Feed wheat prices are in the C$220 to $230 range.

• Japan is reportedly looking to purchase 100,000 tonnes of feed wheat and 200,000 tonnes of feed barley in a tender that closes on Oct. 14.

• Barley yields in the U.K. were better than average this year, with winter barley hitting yields of 7.5 tonnes per hectare and spring barley at 5.9 tonnes per hectare, according to survey data released by the National Farmers Union of the United Kingdom. Those yields compare with the 10-year averages of 6.5 tonnes/hectare for winter barley and 5.4 tonnes/hectare for spring barley.

• Grass-fed cattle are becoming a more prominent sub-section of the cattle sector, with Jerry Lindquist of Michigan State University estimating that grass-fed cattle may now account for roughly five per cent of the beef sector.

• U.S. exports of distillers dried grains with solubles (DDGS) came in at 1.279 million tonnes in August, which was down six per cent from the previous month, according to a report from the U.S. Renewable Fuels Association. China took nearly half of the DDGS, with Canada not one of the top destinations.

 

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