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Feed Grains: USDA raises corn yield estimate

By Commodity News Service Canada

WINNIPEG, Jan. 12 (CNS Canada) – Average U.S. corn yields for 2017 were raised to 176.6 bushels per acre by the USDA in a report on Friday. That compared with an earlier estimate of 175.4 bushels per acre and would be about two bushels per acre above the previous year’s level. Total corn carryout for the current crop year was raised to 2.2477 billion bushels, from 2.295 billion.

The USDA left its South American corn production estimates unchanged in today’s data, at 95.0 million tonnes in Brazil and 42.0 million in Argentina.

Canada has exported 818,300 tonnes of barley during the crop year to date, according to updated data from the Canadian Grain Commission. That’s roughly double the exports reported during the same period the previous year.

Corn futures at the Chicago Board of Trade posted small losses on Friday.

Feed barley bids in the key cattle feeding area of Lethbridge, Alberta held steady during the week ended Jan. 5 to range from C$220 to C$225 per tonne, according to the latest pricing information from the provincial government. Feed wheat prices were also steady in a range from C$219 to C$225 per tonne in Lethbridge.

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