By Commodity News Service Canada
WINNIPEG, Feb. 18 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Thursday, February 18.
– CBOT corn futures were weaker on Thursday, with the March contract down 1.75 cents at US$3.6550 per bushel.
– Kazakhstan has exported nearly 4 million tonnes of grain during the 2015/16 marketing year to date, according to reports out of the country. Total exports are forecast at 7.0 to 7.5 million, with both Iran and China cited as major buyers.
– India typically grows enough corn for its own domestic needs, but drought conditions have cut into production in the current season. As a result, the USDA’s Foreign Agriculture Service estimates that India will need to import 400,000 tonnes of corn during the marketing – up from an earlier estimate of only 50,000 tonnes.
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– China is reportedly looking to start selling off some of its large state corn reserves – some of which has been held for over three years.
– The Western Grains Research Foundation (WGRF) together with the University of Manitoba has announced an investment of C$1.9 million over five years into winter wheat breeding research.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$214 to C$215 per tonne area as of February 12, which was up by two to three dollars compared to the previous week, according to provincial reports. Feed wheat prices were in the C$230 to C$232 range.
