By Commodity News Service Canada
WINNIPEG, June 14 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Tuesday, June 14.
– According to the United States Department of Agriculture, 75 percent of corn in the US is in the good to excellent stage, the same mark as last week. However, the excellent portion of that equation did slip by one percent.
– Recent rains in southeastern Australia have prompted many farmers to start planting winter crops. Grain prices have generally been trending slightly higher in the land down under. Feed wheat climbed AUS$8 last week to AUS$285 delivered, according to a report in queenslandcountrylife.com.
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– Chicago Board of Trade corn futures finished one to five cents per bushel higher on Tuesday. The market corrected higher after slumping early in the day. The next week to 10 days in the US Midwest are expected to be dry and hot which was supportive for prices.
– Grain silo operators in Oklahoma are running out of room to store new shipments of wheat. Strength in the US dollar is weighing on prices which has discouraged sales from the state. As a result, some farmers may be out of luck when it comes time to store their grain.
– Egypt has announced it will stop buying wheat from its farmers as stocks have exceeded four million tonnes.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were around C$205 per tonne range as of June 13, which was down C$5.00 to C$8.00 from the week before, according to provincial reports. Feed wheat prices were in the C$226 to C$240 range as the price range widened slightly from the previous week.
