By Commodity News Service Canada
WINNIPEG, June 12 (CNS Canada) – Free trade agreements play an important part in the US feed grain market, with exports to countries partnered with the US increasing by nearly 24 per cent over the past ten years, according to data from the US Department of Agriculture and US Grains Council. The sales have increased at a faster rate than exports to countries the US does not have free trade agreements with.
Mexico was singled out as an especially important export market for US corn, with market access seen as a ‘top priority’ as the North American Free Trade Agreement (NAFTA) is set to be renegotiated.
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Ukraine’s corn and spring wheat crops are 99 per cent seeded, according to a report from UkrAgroConsult, while 96 per cent of the intended barley acres are in the ground. Barley area was down slightly on the year, but both corn and spring wheat saw an increase in planted area.
Corn futures at the Chicago Board of Trade were down on Monday, as much needed rain in the Midwestern forecasts weighed on values.
Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$179 to C$183 per tonne range as of June 9, which was down by about two dollars per bushel on the top end compared to the previous week, according to the latest pricing information from the provincial government. Top end feed wheat prices were down by as much as six dollars per bushel, at C$194 to C$198 per tonne in Lethbridge.
