By Commodity News Service Canada
WINNIPEG, Mar. 7 (CNS Canada) – Following are a few
highlights in the Canadian and world feed grains markets on
Monday, March 7.
– CBOT corn futures were stronger on Monday, with the May
contract up three quarters of a cent at US$3.59 per bushel. The market was underpinned by advances in crude oil and from traders exiting bearish bets.
– Wheat plantings in Brazil are expected to decline slightly this year as more farmers switch to corn, which is viewed as having a higher return, according to reports out of the country.
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– Authorities in Pakistan have seized substandard wheat in the country’s Bannu district. According to a report on dawn.com the wheat in question had pests, dirt and other seeds in it and wasn’t fit for eating.
– According to the brokerage house Vicorus, wheat exports from the Black Sea region could be on the rise. The region exported 45 million tonnes last year. Increased market access in Indonesia, China and South Korea are credited with fueling the increased demand.
– Thunderstorms with the potential for hail are forecast to fall over stretches of northwest and central India. Analysts say this could be a blow to crops wheat, corn and mustard crops that are in the middle of harvest or nearing maturity, according to a report in the India Times.
– Feed barley bids in the key cattle feeding area of
Lethbridge, Alberta were in the C$205 to C$212 per tonne
range as of March 4, which was down by roughly five dollars
compared to the previous week, according to provincial
reports. Feed wheat prices were in the C$225 to C$235 range,
which were unchanged.
