By Commodity News Service Canada
Winnipeg – Following are a few highlights in the Canadian
and world feed grains markets on Thursday, January 28.
– CBOT corn futures finished three to four cents lower Thursday, with the March contract at US$3.6550 per bushel. The market felt pressure from weak ethanol data and spillover losses in nearby markets.
– A new projection by Brandalizze Consulting says the planted area of Brazil’s second corn crop could grow by 10%.
– Wheat imports are expected to rise in Morocco. A new report from the USDA says wheat imports will rise slightly this year, from 2.8 million tonnes to 3 million tonnes, in anticipation of a smaller harvest. Due to Morocco’s drought, imports will happen sooner than normal.
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– Wheat exports from Russia to Egypt increased by 32 percent in the month of December (2015), according to UKAgroConsult. The two countries are reported to be discussing building joint storage facilities as well.
– China plans to drop grain support for its farmers, according to a report in The People’s Daily. The country’s official communist party newspaper says market trends and demand will be slowed to dictate the price in the future. The report was dated January 26.
– Feed barley bids in the key cattle feeding area of
Lethbridge, Alberta were in the C$209 to C$214 per tonne
area as of January 22, which was relatively unchanged compared to the previous week, according to provincial reports. Feed wheat prices were in the C$222.50 to C$232 range, which were slightly higher.
