By Commodity News Service Canada
Winnipeg – Following are a few highlights in the Canadian
and world feed grains markets on Wednesday, December 2.
– CBOT corn futures were down roughly three cents on Wednesday, as large global supplies and the threat of rising exports from Argentina weighed on values.
– Farmers in Argentina could increase corn acreage by roughly 10 percent next year in response to news the government will lower the corn export tax. Argentina has already lowered the soybean export tax by 5 percent.
– The European Commission says huge world supplies of grains have not lowered prices as sharply as many feared, suggesting a poor harvest in one or two major exporting countries could spike prices.
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– Winter wheat in the United States’ main wheat-growing states improved its condition rating last week, according to the USDA. The amount of wheat in good to excellent shape rose to 55 percent from 53 percent in the previous week.
– The price of feed wheat in Russia is on the rise. Since the beginning of 2015 feed wheat prices have risen by 14.4 percent, according to a report from soyanews.info
– Feed barley bids in the key cattle feeding area of
Lethbridge, Alberta were in the C$210-212 per tonne area as of
November 30, according to Jim Beausekom of Market Place Commodities Ltd in Lethbridge, Alberta. Feed wheat prices are in the C$220-225 range. The average bids for both grains were within the typical trading ranges of both commodities.
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