By Dave Sims, Commodity News Service Canada
WINNIPEG, October 5 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Wednesday, October 5.
– CBOT corn futures finished slightly weaker on Wednesday. Cautionary selling was the story for many traders as ideas circulated the crop was slightly overbought.
– More cases of corn rootworm are showing up in Manitoba. The slimy pest feeds on corn roots and creates headaches for producers throughout North America. One entomologist said a simple crop rotation could eliminate the worm.
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– The latest report from the USDA says just 10 percent of Iowa’s corn crop has been harvested, as of Sunday, October 2. That is roughly half the normal pace. Wet weather through the month of September is largely to blame.
– Excess dryness in Turkey will lower the country’s wheat production, according to a new report from the USDA. The agency pegged the country’s production in 2016-17 at 17.25 million tonnes. That compares to 19.5 million tonnes the year before.
– Pounding rains over the past few weeks in southern and eastern Australia have raised concerns about potential crop lodging. A story in The Land says both Victoria and South Australia are at risk of seeing crops weighed down by the excess moisture.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$155 to C$165 per tonne
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.
