By Commodity News Service Canada
Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Tuesday, November 24.
– CBOT corn futures moved lower on Tuesday, following wheat as traders were busy squaring positions ahead of the US Thanksgiving holiday. The March contract was down 3.5 cents, at US$3.6950 per bushel.
– Hot and dry weather conditions in Australia are cutting into the quality of the country’s malt barley crop, which may see more being directed to feed channels this year, according to reports from the country. While up to 30 to 40 per cent of the crop may usually hit malt specifications, some local industry participants are placing that number at only 10 to 20 per cent.
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– Ukraine’s grain harvest is 98 per cent complete, with 59.1 million tonnes of wheat, barley, corn, and other grains harvested as of November 23, according to the country’s agriculture minister. Total grain production for the year is forecast at 60.0 million tonnes, which would be down slightly from the 63.8 million tonnes harvested in 2014.
– Chinese investors are set to begin construction of a plant in Bulgaria that will process forage crops for export, according to Bulgaria’s agriculture minister.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$220 per tonne area as of November 20, according to provincial reports. Feed wheat prices are in the C$230 range. The average bids for both grains were relatively steady compared to the previous week.
