By Dave Sims, Commodity News Service Canada
WINNIPEG, October 4 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Tuesday, October 4.
– CBOT corn futures finished two cents higher on Monday. Delays in the harvest were supportive along with technical buying.
– According to a report on the Blackburnnews.com, corn farmers in Ontario are hesitant to move their crop. An analyst with Grain Farmers of Ontario says producers don’t want to sell until harvesting conditions improve enough for them to get the crop off cleanly and without delays.
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– The latest report from the USDA indicates 86 percent of the US corn crop has reached maturity, which compares to the five-year average of 79 percent. Nearly a quarter of the US crop has now been harvested.
– South Dakota’s winter wheat production is booming this year. According to the USDA, the state’s winter wheat hit 63.8 million bushels this year, which is up nearly 50 percent over 2015. The average yield increased 32 percent which brought the yield to 58 bushels an acre, an all-time record.
– Grain production in Algeria dropped over 10 percent in 2016-17, due to excess dryness. According to the U.S. Department of Agriculture’s (USDA) Global Agricultural Information Network (GAIN), grain production dropped from 4 million tonnes in 2016-16 to just 3.3 million tonnes this season.
– 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.
