By Commodity News Service Canada
WINNIPEG, August 23 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Tuesday, August 23.
– CBOT corn futures were down on Tuesday, as improving US crop prospects weighed on values. The December contract was down 5.25 cents at US$3.3725 per bushel.
– Statistics Canada releases its first survey-based production estimates of the crop year on Tuesday, pegging the country’s barley crop at 8.7 million tonnes. That’s up by 500,000 tonnes from the previous year. Total wheat production in the country was pegged at 30.5 million tonnes, which would be up from 27.6 million in 2015/16. However, many analysts are of the opinion that a greater percentage of the wheat and barley will fall under the feed category this year due to poor weather over the past month.
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– The adverse weather conditions that hurt grain production in France and Germany this year have seen another casualty, with the reduced barley production in the two countries likely to lead to increased beer prices in Europe, according to reports.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$170 to C$175 per tonne range as of August 19, according to the weekly review from the provincial agriculture department. Top end prices were down by as much as C$15 on the week. Feed wheat prices were in the C$184 to C$192 per tonne range, which were also down considerably from the previous week.
