By Commodity News Service Canada
Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Tuesday, Oct. 20.
– The Grains Industry of Western Australia predicts the area will harvest a 3.19 million tonne barley crop in 2015-16. However, some recent frosts are casting questions on whether that mark will be reached.
– While Japan is one of the main signatories to the Trans-Pacific Partnership the extent of the country’s tariff elimination is expected to be much smaller than the 11 other members. For instance, it’s still not clear what will happen with Japanese wheat. There are concerns the country’s farmers will not be able to compete with high volumes of cheaper imports.
– CBOT corn futures were up by one to three cents per bushel at midday Tuesday.
– The USDA said U.S. farmers had cut 59 percent of the corn crop as of Sunday, above the five-year average pace of 54 percent. The soybean harvest was 77 percent complete, topping the five-year average of 68 percent.
– Wheat markets in the EU remain under pressure from France’s record wheat harvest and fierce export competition from the Baltic region as well as Russia, Ukraine and Romania.
– Reports out of China indicate the country plans to cut the amount of money it uses to buy corn for its state run reserves by as much as 10 percent.
