By Commodity News Service Canada
Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Thursday, December 10.
– CBOT corn futures settled higher on Thursday, gaining 5.5 cents in the March contract to settle at US$3.7925 per bushel. Better-than-expected weekly export sales of over 1 million tonnes, as reported by the USDA, contributed to the strength.
– France’s FranceAgriMer forecast barley ending stocks in the country at the close of the 2015/16 marketing year at 2.2 million tonnes, which was raised from an earlier estimate due to expectations for reduced demand from China. Corn ending stocks in the country are forecast at 2.8 million tonnes, which was also up from the 2.3 million tonnes estimated in October.
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– Abengoa SA, one of Europe’s largest ethanol producers, is facing financial issues and met with its main creditor banks this week in an effort to avoid bankruptcy. While the company has said it will continue production, some grain traders may be showing reluctance to sell to the company – which uses more than 2 million tonnes of wheat and corn annually at its plants.
– Indonesia could import 3 million tonnes of corn in 2016, according to industry officials in news reports out of the country.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$215 to C$223 per tonne area as of December 4, according to provincial reports. Feed wheat prices are in the C$223 to C$233 range. The average bids for both grains were relatively steady compared to the previous week.
