By Commodity News Service Canada
WINNIPEG, October 19 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Wednesday, October 19.
– CBOT corn futures finished about two to four cents per bushel higher on Wednesday. According to reports, demand was steady as the harvest neared the halfway point.
– Cold, wet weather has delayed the grain harvest in Western Canada and also taken a bite out of Canadian Pacific Railway’s profits. The railway giant says its third-quarter revenues fell to C$1.55 billion in a call to reporters this morning.
– The International Grains Commission estimates the corn crop in the US will increase to 378.8 million tonnes.
– According to a report in the Oceanic Shipping News, increased use of fertilizers in Argentina should help boost the country’s wheat output.
– The Black Sea region continues to pump out a large amount of wheat. According to UKAgroConsult, the country exported the second largest volume of wheat for the month of July ever. The country shipped out 735,000 tonnes during the month. That is 140 percent more than last July.
– Agri-Food Canada is touting the benefits of a new type of alfalfa, according to a release. The variety is titled CRS 1001 and features creeping root stocks that could allow it to thrive in areas like the Maritimes, which traditionally have had difficulty growing the plant.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$158 to C$170 per tonne
range as of October 17, which were roughly C$5-10 higher than the previous week. Feed wheat prices were in the C$180 to C$190 range, which was also about C$5-10 higher than the previous week.