By Commodity News Service Canada
Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Wednesday, May 10.
Chicago Board of Trade corn and wheat futures posted gains at the mid-week session, buoyed by the USDA’s World Agricultural and Supply Demand Estimates. The report estimated world grain supplies at a slightly-lower level than many analysts had been anticipating. The corn market enjoyed a particularly strong bounce with the July contract finishing seven cents per bushel stronger.
Farmers in the US Midwest are preparing for possible storms this week. Various weather reports in the US suggest rain could be developing in key corn planting areas. If corn planting is delayed yet again, there are ideas more farmers could switch out corn acres for soybeans.
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Wild oats, smartweed and buckwheat have been spotted in Manitoba fields as farmers seed this year’s crop. Some producers have begun spraying herbicide to contain the weeds however strong winds have kept others from doing so.
Feed wheat bids in the key cattle feeding area of
Lethbridge, Alberta were in the C$185 to C$195 per tonne range
as of May 5, which was five dollars higher compared to the previous week, according to the latest pricing information from the provincial government. Feed barley prices were up two to ten dollars compared to the previous week, at C$170 to C$175 per tonne in Lethbridge.
