By Commodity News Service Canada
Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Thursday, November 12.
– CBOT corn futures were down at midday Thursday, November 12, with the December contract down one cent, at US$3.61 per bushel, as the market remains stuck in a narrow range.
– The United Kingdom has signed a US$151 million (100 million pounds) trade deal with China, which could see up to 750,000 tonnes of British barley move to the Asian country over the next five years. The rising Chinese demand for beer was cited as a major factor behind the deal.
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– The US Corn Growers Association is lobbying President Obama to raise the country’s renewable fuel standard (RFS) for ethanol, and ignore the Environment Protection Agency’s (EPA’s) proposal to lower the standard. In a letter to Obama, the Corn Growers argue that a higher requirement for corn-based ethanol is needed for farmers facing low corn prices.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$215 to C$220 per tonne area as of November 6, according to provincial reports. Feed wheat prices are in the C$220 to C$230 range. The low-end bids for both grains were up from the previous week, while the top end of the ranges held steady.
