By Commodity News Service Canada
WINNIPEG, Feb. 23 (CNS Canada) – Following are a few
highlights in the Canadian and world feed grains markets on
Tuesday, February 23.
– CBOT corn futures dropped five cents per bushel on Tuesday, with the May contract at US$3.6675 per bushel. Traders took profits off yesterday’s gains while losses in crude oil also weighed down the market.
– The USDA has pegged 2016 ending stocks for durum at 34 million bushels. That is higher than last year’s ending stocks which were just 26 million bushels.
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– Lower wheat yields in India are widely expected due to the above-normal temperatures experienced in December and January, according to reports out of the country.
– French wheat exports to Egypt are down significantly in 2015/16. France has sold roughly 500,000 tonnes to Egypt so far. However, that is well off the pace set last year, when a total of 2 million tonnes of French wheat made its way into Egypt.
– Despite lobbying by local farmers, South Africa has resisted calls to revise the penalties placed on imports of corn. The International Trade Administration Commission says it fears it will lead to higher prices for consumers.
– Feed barley bids in the key cattle feeding area of
Lethbridge, Alberta were C$215 per tonne as of February 19, firming slightly compared to the previous week, according to provincial reports. Feed wheat prices held steady at C$230 to C$232.
