By Commodity News Service Canada
Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Monday, November 23.
– CBOT corn futures traded to both sides of unchanged on Monday, but managed to find some support at the lows to post small gains of three to four cents. The December contract was up four cents, at US$3.6725 per bushel.
– Cattle placements into US feedlots hit their lowest level for the month of October over the past 20 years of records, according to the latest USDA data, as large supplies of heavy animals were said to be cutting into the feeders’ profit margins. However, total cattle on feed, as of November 1, were still up 2.0 per cent on the year at 10.794 million head.
Read Also
ICE canola eases off
Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange showed small losses on Monday morning to go with…
– Argentina’s newly elected President, Mauricio Macri, campaigned on a promise to cut export taxes for grains and oilseeds from the country. If implemented, the cuts could lead to a significant increase in corn and soybean movement from the South American country.
– Chinese DDGS imports are up considerably compared to a year ago, but were trending down in October compared to the previous month on concerns that the country’s government is about to launch an anti-dumping probe into the renewable fuel.
– 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.
