By Commodity News Service Canada
June 13 (CNS Canada) — Corn and soybean fields in the southern United States are beginning to show signs of stress from lack of moisture, according to reports out of the country. While it is still too soon to downgrade these crops to feed, rain is needed soon and was in the forecast for later this week.
In Manitoba, haying operations are underway. The hay crop is reported as variable in the northwest, with reports of below-average yields in the central regions, according to the weekly crop report from Manitoba Agriculture.
Dry conditions may affect hay yields in southeastern Saskatchewan if rain does not arrive soon.
The outlook for hay crops in most of Alberta looks favourable, with most fields rated good to excellent.
Australia barley exports have eaten into large supplies and the country expects to have 330,000 tonnes of carry-out stocks at the end of the crop year in September, said analyst Lachstock Consulting. That would be the lowest in more than seven years.
Australian growers produced a record large barley crop, which was estimated by the Australian Bureau of Agricultural and Resource Economics and Sciences in February to be 13.4 million tonnes.
At the Chicago Board of Trade, futures traded higher Tuesday. For July contracts, Corn was up 3.75 cents at $3.81 bushel, wheat rose 11 cents at $4.45 a bushel; soybeans rose 1.25 cents at $9.3250 a bushel, oats rose 3.50 cents at $2.5325 a bushel.