By Commodity News Service Canada
WINNIPEG, May 12 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Thursday, May 12.
– CBOT corn futures were up on Thursday, as solid export demand and ideas that some intended US acres may shift to soybeans provided support. The July contract was up by 11.5 cents, at US$3.89 per bushel.
– Wet weather is causing delays for farmers seeding the final third of this year’s US corn crop, with industry participants estimating that anywhere from 1 million to 2 million acres could go into soybeans instead.
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– Zambia will hold off on exporting its recently harvested 2.87 million ton corn crop until September, said government officials. The country is also set to purchase 1 million tonnes from local farmers in order to stabilize prices and increase strategic reserves.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$215 to C$218 per tonne area as of May 6, which was steady on the week, according to provincial reports. Feed wheat prices were in the C$236 to C$240 range, which was up by about three dollars on average.
