By Commodity News Service Canada
Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Friday, January 29.
– CBOT corn futures finished three to four cents lower Thursday, with the March contract at US$3.6550 per bushel. The market felt pressure from weak ethanol data and spillover losses in nearby markets.
– Argentina’s wheat exports are increasing as the country is selling supplies to South Korea and Vietnam. A recent election in the South American country had led to the slashing of export rates and a devaluing of the peso which are largely seen as reasons behind the surge.
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– The US Department of Agriculture has increased its forecast for 2015/16 Moroccan wheat imports. The agency predicts imports will rise to 3 million tonnes, which is 200,000 more than the previous forecast.
– Cold temperatures have descended on some central parts of India with the mercury dipping to -3 (Celsius) in Utter Pradesh, according to the Indian government. Wheat plantings are down in the country so far this year, according to numerous reports.
– According to a report in The Daily Mail, a crashed truck in China’s Guizhou province attracted hundreds of villagers who raided the spilled wheat in a violent scene. In all, eight tonnes of wheat were looted.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$209 to C$214 per tonne
area as of January 22, which was relatively unchanged compared to the previous week, according to provincial reports. Feed wheat prices were in the C$222.50 to C$232 range, which were slightly higher.
