By Commodity News Service Canada
WINNIPEG, Feb. 24 (CNS Canada) – Following are a few
highlights in the Canadian and world feed grains markets on
Wednesday, February 24.
– CBOT corn futures dropped two cents per bushel on Wednesday, with the May contract at US$3.6450 per bushel. The market felt some pressure due to sluggish demand and large world supplies. Traders also adjusted positions ahead of a USDA report due out Thursday.
– Russia has made some initial efforts towards drafting a law aimed at regulating the storage of grain. The move is aimed at improving quality and marketability, according to information from the Ministry of Russia. The agency says right now, just 20% of Russian grain houses participate in standardization and improvement programs.
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– Saudi Arabia has amassed 1.8 million tonnes of wheat reserves which should be enough to last six months, according to the kingdom’s wheat-buying agency. That compares to just 1.6 million tonnes at the same time last year.
– 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.
