By Commodity News Service Canada
Winnipeg – Following are a few highlights in the Canadian
and world feed grains markets on Tuesday, November 17.
– CBOT corn futures finished one to two cents higher Tuesday, with the December contract at US$3.6200 per bushel. Futures received a boost from reasonable demand and spillover buying, according to a report.
– Grain exports from Russia could hit 3.1 million tonnes in December, according to the country’s deputy director of strategic marketing. If the forecast is accurate, it would surpass last December’s output of 2.99 million tonnes.
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– Australia’s largest grain-handler, GrainCorp, says it expects 2016 to be another challenging year for the company. Grain production is expected to be lower which will likely mean a low carry-out as hot and dry conditions in the southern portion of the country impact volumes.
– Feed barley bids across the Prairies were generally in the C$3.50 to C$4.00 per bushel range as of November 17, according to the Prairie Ag Hotwire. Feed wheat prices are in the C$4.75 to C$5.00 range.
– The World Meteorological Organization says it expects El Nino to gain strength by the end of the year. Severe droughts and floods are expected in various parts of the world because of the weather event, which involves the warming of sea surface temperatures in the Pacific Ocean.
