By Commodity News Service Canada
WINNIPEG, Dec. 14 (CNS Canada) – The US Federal Reserve raised its key overnight interest rate to 0.75 per cent on Wednesday, as had been widely anticipated. Expectations for further rate increases in 2017 could come to play in the world feed grains markets through their impact on the US dollar.
US ethanol production hit a record high of 1.040 million barrels per day during the week ended December 9, according to a report out of the country. Total supplies of the renewable fuel climbed to 19.1 million barrels, which was up from the week-ago level but still 6.1 per cent below the year ago level.
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Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$170 to C$175 per tonne range as of December 9, which was relatively steady compared to the previous week, according to the latest pricing information from the provincial government. Top end feed wheat prices were also steady, at C$189 to C$190 per tonne in Lethbridge.
