By Commodity News Service Canada
WINNIPEG, Jan. 26 (CNS Canada) – Demand for Canadian wheat was slightly lower during the past month. Crop markets generally were under pressure as harvest activity ramps up in South America and Australia wraps up its wheat harvest, according to G3 Canada.The stronger loonie also weighed on prices.
Excess supplies of feed wheat and barley across Western Canada could last until the summer, according to an industry expert. “Saskatchewan, in particular, has so much low-grade wheat out there. I don’t see the light at the end of the tunnel,” he noted.
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Feed wheat bids in Manitoba fell nine cents overnight. According to data from Prairie Ag Hotwire, prices are C$4.31 a bushel.
In Saskatchewan, feed barley prices rose by five cents last week to a range of C$2.30-$3.05 per bushel.
Corn prices in North Dakota have increased by 19 cents over the past month. According to the Hotwire, bids are between C$3.46-$3.92 a bushel.
Feed barley bids in the key cattle feeding area of Lethbridge, Alta., were in the C$160 to C$170 per tonne range as of January 19, according to the latest pricing information from the provincial government. That is slightly higher than last week. Feed wheat prices were C$180-$185, which was roughly C$2 weaker than the previous week.
A shipment of white corn from Mexico arrived in South Africa covered in mold after the ship’s operators decided to take a longer route around South America. According to a report by Bloomberg Markets, the corn suffered damage as a result of being loaded during humid conditions in Mexico and suffering from cold during the trip. Typically, ships will use the Panama Canal instead.
