By Commodity News Service Canada
Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Wednesday, December 9.
– CBOT corn futures settled near unchanged on Wednesday, gaining a quarter of a cent in the March contract to settle at US$3.7375 per bushel.
– The USDA forecast US corn ending stocks for 2015/16 at 1.785 billion bushels, which was up from the 1.760 billion forecast in November, but well within trade estimates. Global corn ending stocks were left unchanged at 211.9 million tonnes.
– Included in the supply/demand adjustments were a 50 million bushel decrease in projected US corn exports and a 25 million bushel rise in ethanol usage.
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– The Australian state of Queensland has passed a bill mandating 3% ethanol usage and 0.5% biodiesel in the state, effective January 1, 2017.
– China’s total grain production of 621.44 million tonnes was up by 2.4% in 2015, marking the twelfth consecutive increase, according to a report from the country’s National Bureau of Statistics.
– Japan’s Ministry of Agriculture received no offers for its latest feed wheat and barley tender. The country had been looking to purchase 120,000 tonnes of feed wheat and 200,000 tonnes of feed barley, and will re-tender on December 16.
– 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.
