Feed Grains: Brazilian corn prices could sink lower

By Commodity News Service Canada

Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Tuesday, April 18.
Feed barley prices in Alberta dipped two cents according to the latest information from the Prairie Ag Hotwire. Prices are now listed at an average price of C$2.40-$3.46 a bushel.
Oat bids in North Dakota fell by seven cents to an average price of C$1.98 a bushel.
Spring wheat planting in the US is going slower than usual. As of April 16, just 13 percent of the crop had been put into the ground, compared to 25 percent last year and 21 percent over the past five years. Excess moisture was cited as the main reason for the delay, according to the statistical service of the USDA.

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Brazilian ending stocks of corn are expected to reach 11.1 million tonnes by the end of the current marketing year, according to information from the USDA. The agency’s attaché in Brazil says this could possibly push prices below the government-set minimum price. If so, the government could be forced to step in with a stocks acquisition program.
Chicago Board of Trade corn futures were down by two to five cents per bushel on Tuesday due to commercial selling. Technical support helped steady the front-month contracts.
Feed wheat bids in the key cattle feeding area of
Lethbridge, Alberta were in the C$180 to C$185 per tonne range
as of April 14, which was the same price compared to the previous week, according to the latest pricing information from the provincial government. Feed barley prices were down a dollar at the low end of the range, at C$159 to C$165 per tonne in Lethbridge.