Feed Grains: India’s wheat crop may beat expectations

By Commodity News Service Canada

WINNIPEG, Feb. 16 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Tuesday, February 16.

– CBOT corn futures were stronger on Tuesday, with speculative short-covering a feature. The March contract was up four cents at US$3.6275 per bushel.

– Heavy rains in Brazil are expected to slow export movement out of the country over the next week, according to reports.

– Tunisia bought 75,000 tonnes of feed barley over the weekend, according to reports. The country’s state grains buyer also purchased 75,000 tonnes of milling quality wheat.

– India’s Agriculture Ministry is forecasting wheat production in 2015/16 of 93.8 million tonnes, which would be well above trade estimates and the 86.5 million tonnes grown the previous year.

– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$214 to C$215 per tonne area as of February 12, which was up by two to three dollars compared to the previous week, according to provincial reports. Feed wheat prices were in the C$230 to C$232 range.

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