By Commodity News Service Canada
WINNIPEG, Jan. 6 (CNS Canada) – Urbanization is cutting into crop land around the world, according to a recent research paper predicting a 9 per cent decline in Chinese crop output by 2030, among other countries. In total, the paper published by the US National Academy of Sciences, predicts that 30 million square kilometres of arable land will be lost to urbanization over the next 30 years.
US ethanol production hit a record of 1.043 million barrels per day during the last week of 2016, according to a report from the US Energy Information Administration.
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Corn futures at the Chicago Board of Trade moved lower on Friday, as disappointing weekly export sales data weighed on values. The USDA reported weekly sales of 429,000 tonnes, which were the lowest of the marketing year-to-date, and well below trade expectations.
Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$169 to C$175 per tonne range as of December 23, which were 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$185 to C$190 per tonne in Lethbridge.
Large supplies of low quality feed are flooding the market in Western Canada, limiting the potential for any price strength, according to industry participants.
