Feed: Russia may plant more feed, U.K. less

CNS Canada — Following are a few highlights in the Canadian and world feed grains markets on Wednesday, Oct. 14.

• CBOT corn futures were down by two to three cents per bushel (US$) at midday Wednesday, as the advancing U.S. harvest and relatively favourable yield reports weighed on values.

• Barley futures on India’s National Commodity and Derivatives Exchanged (NCDEX) have shown some strength recently on the back of rising demand from both the beer and livestock sectors, according to reports.

• Feed barley bids in the key cattle feeding area of Lethbridge are in the C$212-$220 per tonne area, according to provincial reports. Feed wheat prices are in the C$215-$228 range.

• Jordan cancelled a tender to purchase 100,000 tonnes of barley after no offers were made.

• Russian wheat export tariffs may have the unintended consequence of causing farmers in the country to plant less wheat in favour of corn and other feed grains, according to some analysts.

• Meanwhile, wheat growers in the United Kingdom are leaning toward seeding more milling quality varieties and reducing feed wheat acreage, according to seed dealers in the country.

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