By Commodity News Service Canada
Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Thursday, January 21.
– CBOT corn futures were weaker on Thursday, with the March contract down 1.75 cents at US$3.67 per bushel.
– The International Grains Council lowered its forecast for total world grain production in 2015/16 by four million tonnes, to 1.992 billion tonnes. That would make total production down by 2% from the record seen in 2014/15, with poor harvests in South Africa and India accounting for the latest downward revision. However, consumption was also revised slightly lower, and the world grains ending stocks forecast was raised by one million tonnes, to 455 million. That carryout would be the largest in 29 years.
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– Looking ahead to 2016/17, the IGC estimated world wheat production at 706 million tonnes, which would be down 3% from 2015/16.
– Russia exported 3.8 million tonnes of grain in December, which was a new monthly record, according to a report from SovEcon. The weak ruble was cited as a major influence behind the large exports.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$205 to C$214 per tonne area as of January 15, which was unchanged compared to the previous week, according to provincial reports. Feed wheat prices were in the C$220 to C$225 range, which was down slightly from the previous week.
