By Commodity News Service Canada
Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Tuesday, December 8.
– CBOT corn futures settled near unchanged on Tuesday, gaining half a cent in the March contract to settle at US$3.7350 per bushel as participants were squaring positions ahead of Wednesday’s USDA supply/demand report.
– Farmers in Ireland planted more winter barley this year, which will likely lead to a decline in spring seedings to the crop, according to a report from Teagasc, the Irish Agricultural Authority. The government department forecast winter barley area to rise to 74,000 hectares, from 69,500 the previous year. Meanwhile, spring barley area is forecast to decline from the 132,400 tonnes grown in 2015 to make up for the winter increase.
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– Feed shortages and high costs are causing livestock producers in South Africa to sell their cattle at below average prices, according to reports from the country.
– Australia is expected to export less barley and wheat in 2015/16 than earlier thought, according to updated projections from Abares. The agency cited increased global competition, large Chinese grain reserves, and smaller Australian crops as reasons for the reduction. Total wheat exports from the country in the June to July marketing year are now forecast at 16.95 million tonnes, down 580,000 tonnes from an earlier estimate. Projected barley exports were forecast to decline by 800,000 tonnes, to 5.8 million tonnes.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$215 to C$223 per tonne area as of December 4, according to provincial reports. Feed wheat prices are in the C$223 to C$233 range. The average bids for both grains were relatively steady compared to the previous week.
