By Commodity News Service Canada
WINNIPEG, May 24 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Tuesday, May 24.
– CBOT corn futures held steady on Tuesday, as traders are still trying to get a better handle on this year’s US corn acreage. The July contract was down a quarter cent, at US$3.9750 per bushel.
– The US corn crop was 86 per cent seeded as of this past Sunday, according to the latest USDA report. That was slightly ahead of the five-year average but behind trade guesses.
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– Sales of feed grains and feed grain products contribute US$82 billion to the US economy, with corn accounting for US$74.7 billion of the total, according to a report from Informa Economics.
– UkrAgroConsult forecasts barley production in Russia to rise by about 400,000 tonnes in 2016/17, hitting 17.8 million tonnes.
– Barley-based beer was being brewed in China 5,000 years ago, according to newly new archeological discoveries.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$205 to C$220 per tonne range as of May 20, which was up by two dollars on the top end, according to provincial reports. Feed wheat prices were in the C$236 to C$240 range, which were one to three dollars more than the week before.
