By Dave Sims, Commodity News Service Canada
WINNIPEG, October 6 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Thursday, October 6.
– CBOT corn futures fell six to seven cents per bushel on Thursday as harvest pressure weighed on prices. Informa Economics lowered its estimate for US corn yields. The agency pegged corn yields at 174.5 bushels per acres, which was down from the previous figure of 175.2 bushels per acre.
– According to the USDA, the state of Virginia saw a 33 percent decrease during the 2016 winter wheat harvest, compared to the year previous. Farmers in the state took off 9.28 million bushels of winter wheat with a yield of 53 bushels an acre. A cold, wet spring was credited with the downgrade.
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– Farmers in Argentina are increasingly turning to corn instead of soybeans, according to a report by UkrAgroConsult. The report cites the government’s decision to keep the soybean export tax in place with the reason corn acres are rising at the expense of soybeans.
– A new forecast from the Buenos Aires Cereal Exchange pegs corn production in Argentina at 36 million tonnes. That is a marked increase from the 30 million tonnes produced the previous season.
– According to the latest crop report from the Saskatchewan government, the winter wheat harvest is now complete while 79 percent of the spring wheat, and 86 percent of the barley has been taken off.
– Feed barley bids in the key cattle feeding area of
range as of October 3, which was slightly weaker than the previous week. Feed wheat prices were in the C$175 to C$190 range, which was roughly C$5 weaker than the previous week.
