By Commodity News Service Canada
WINNIPEG, Feb. 10 (CNS Canada) – Following are a few
highlights in the Canadian and world feed grains markets on
Wednesday, February 10.
– CBOT corn futures were slightly weaker on Wednesday, with the March contract at US$3.6025 per bushel. The corn market felt some pressure by recent rains in Argentina and parts of Brazil that have alleviated some of the concerns over excess dryness.
– French wheat exports outside the European Union are on the rise. In December, the country shipped out 1.3 million tonnes. Most of the wheat was purchased by Algeria (489,000 tonnes), according to a report by UKAgroConsult.
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– The vice-president of the Russian Grain Union believes the country’s durum crop should be increased to 1.5 million tonnes. Evgeny Zaytsev says the typical gross harvest in Russia these days is just 400,000 to 600,000 tonnes, according to a report by grainboard.ru.
– A major agribusiness dealer has filed a lawsuit against Egypt. Bunge Limited is challenging a decision by Egyptian authorities in December when they refused a shipment of grain because it contained trace amounts of Ergot. A spokesman for Bunge told The Wall Street Journal that the shipment met the standards of the Main Directorate of supply of raw materials (GASC).
– Wheat production in India is expected to be at its lowest point since 2009/2010 because of insufficient rainfall, according to reports out of the country.
– Feed barley bids in the key cattle feeding area of
Lethbridge, Alberta were in the C$208 to C$212 per tonne
area as of February 5, which was C$1-$3 lower compared to the
previous week. Feed wheat prices were in the C$220 to C$232 range, which were roughly the same as the previous week.
