By Commodity News Service Canada
WINNIPEG, Sept. 30 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Friday, September 30.
– CBOT corn futures settled higher on Friday, as a USDA stocks report was seen as somewhat supportive. The December contract was up 7.50 cents at US$3.3675 per bushel.
– US corn stocks, as of September 1, were reported at 1.738 billion bushels by the USDA. That was the highest level in ten years, but still below market expectations.
– The International Grains Council (IGC) is forecasting more wheat production in 2016/17, but less corn, according to its latest report. The IGC is now forecasting a world wheat crop of 747 million tonnes, which would be up by four million tonnes from an earlier estimate. Corn, meanwhile, is forecast at 1.027 billion, which would be down by three million tonnes from an earlier forecast.
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– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$160 to C$165 per tonne range as of September 23, which were unchanged from the previous week, according to the latest pricing information from the provincial government. Feed wheat prices moved up slightly, to range from C$180 to C$195 in Lethbridge.
