Feed Grains: Brazilian corn prices soften

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By Commodity News Service Canada

WINNIPEG, Nov. 22 (CNS Canada) – CORN futures on the Chicago Board of Trade inched up one to two cents per bushel on Tuesday. Demand for US corn continues to stay reasonable as evidenced by US weekly exports that were slightly stronger than expected. According to the USDA, the corn harvest is about 97 percent harvested.
Drought conditions are reportedly beginning to set in on certain portion of the US plains, which was supportive for prices.
Corn prices in Brazil are on the decline, according to a report from CenarioMT.com. A good harvest and bets by speculators that the American dollar will continue to strengthen against the real was reportedly behind some of the pressure.

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A new strain of soft winter wheat could offer increased hardiness along with increased resistance to stripe rust, according to a report by the Capital Press. Idaho Wheat Commission Executive Director Blaine Jacobson says he’s hopeful the new seed, dubbed UI Sparrow, can be licensed by the middle of 2017, and be broadly available by 2019. The seed was created at the University of Iowa.
Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$172 to C$175 per tonne range as of November 18, which was up five dollars at the top end from the previous week, according to the latest pricing information from the provincial government. Top end feed wheat prices were up three dollars at the bottom end of the range, coming in at C$185 to C$190 per tonne in Lethbridge.