By Commodity News Service Canada
WINNIPEG, March 3 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Thursday, March 3.
– CBOT corn futures held near unchanged on Thursday, with the May contract up a quarter cent at US$3.5650 per bushel. ICE Futures Canada barley contracts also saw some light activity for the second day in a row, holding steady in the May contract at C$180 per tonne.
– Weekly US corn exports came in at 1.1 million tonnes during the past week, according to the latest USDA report. That was in line with trade guesses, but relatively strong overall.
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– A number of private forecasters have increased their estimates on the size of the Brazilian corn crop recently, with guesses ranging from 82.5 million to 84.5 million tonnes. The country grew 85.0 million tonnes of corn last year, according to USDA data.
– In other news out of Brazil, dry weather in parts of the country is said to be delaying seeding of the country’s second-crop corn.
– Australia’s ABARES put out their own world corn production estimate recently, pegging the global crop in 2015/16 at 982 million tonnes, which would be up from the 968 million tonnes grown the previous year.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$210 to C$214 per tonne area as of February 26, which was up by one to five dollars compared to the previous week, according to provincial reports. Feed wheat prices were in the C$225 to C$235 range, which was down by three to five dollars.
