Feed Grains: IGC raises world grain production estimate

By Commodity News Service Canada

Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Thursday, October 29.

–  CBOT corn futures were higher on Thursday, with the December contract up four cents, at US$3.8000 per bushel, as solid weekly export demand provided some support.

–  The International Grains Council has raised its world grain production estimate by 3 million tonnes, to 1.999 billion. The IGC said an increase in the US corn crop, together with better-than-expected Canadian and EU barley production, contributed to the upward revision. However, total grain supplies are still expected to be down by 27 million tonnes compared to the previous year.

–  A deadline to implement Positive Train Control (PTC) measures on railroads in the US has been postponed by three years by the US government. Rail companies had said they would not be able to meet the December 31, 2015, deadline to meet the safety requirements, and were threatening possible service disruptions.

–  Chinese buyers have temporarily stopped purchasing US DDGS amid concerns that the country will launch a new anti-dumping probe.

–  Feed barley bids in the key cattle feeding area of Lethbridge, Alberta are in the C$210 to C$220 per tonne area, according to provincial reports. Feed wheat prices are in the C$215 to C$230 range.

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