By Commodity News Service Canada
WINNIPEG, May 9 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Monday, May 9.
– CBOT corn futures were down on Monday, as good Midwestern seeding weather and strength in the US dollar index weighed on values. The July contract was down by 8.5 cents at US$3.6900 per bushel.
– The USDA reported fresh export business this morning of 170,000 tonnes of US corn to Japan and 120,000 tonnes to ‘unknown destinations.’
– Dry conditions in Brazil are cutting into the yield prospects for the second-cut corn crop there, according to reports.
Read Also
Canadian Financial Close: C$ firm Friday
Glacier FarmMedia — The Canadian dollar strengthened Friday, as dovish comments out of the United States Federal Reserve weighed on…
– Aside from the dryness issues, the political situation in Brazil is being followed closely as well, with the newly appointed speaker in the country’s lower house of government announcing the annulment of the impeachment process against President Dilma Rousseff.
– US feed grain exports from September through March are running seven per cent behind the level seen during the same period the previous year, according to a recent report from the US Census Bureau. Total feed exports during the 2015/16 marketing year are forecast at 93 million to 96 million tonnes by the US Grains, which would compare with roughly 100 million tonnes the previous year.
– 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.
–
