By Commodity News Service Canada
WINNIPEG, August 24 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Wednesday, August 24.
– CBOT corn futures ended around one cent lower on Wednesday. The market was pressured by the early results of a farm tour in the US where participants are finding good yields for this year’s crop.
– The majority of the first cut of hay is complete in Manitoba. According to the weekly crop report the second cut is already underway although high humidity has slowed the progress somewhat.
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– The University of Illinois says this year’s corn supply (2016-17 marketing year) will put major stress on storage facilities around the country. The supply, which includes production, carryover stocks and imports) is projected at 16.9 billion bushels, which is 1.5 billion larger than last year.
– After weathering excess rainfall for much of the summer, corn fields across much of Europe are now dealing with too much heat which could reduce yields, according to various reports.
– Russia has begun planting its winter grain crop, the SovEcon agricultural consultancy noted.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$170-$175 per tonne range as of August 19, which was C$5-$10 lower than the week before, according to provincial reports. Feed wheat prices were in the C$184 to C$2192 range which was down roughly C$15 from the previous week.
