By Commodity News Service Canada
WINNIPEG, Oct. 27 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Thursday, October 27.
– CBOT corn futures settled higher on Thursday, taking some direction from advances in soybeans. The December contract was up 3.50 cents at US$3.5750 per bushel.
– Weekly US corn sales of about 800,000 tonnes were at the low end of trade estimates and the smallest of the past month.
– The International Grains Council raised its world grain ending stocks forecast for 2016/17 by seven million tonnes from an earlier estimate, to 498 million. That would be up by 23 million tonnes from the previous year, with stockpiling in China behind some of the increase.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$162 to C$175 per tonne range as of October 21, up by about five dollars compared to the previous week, according to the latest pricing information from the provincial government. Feed wheat prices held steady, to range from C$182 to C$190 per tonne in Lethbridge.
