By Commodity News Service Canada
WINNIPEG, Jan. 4 (CNS Canada) – Russia grew record large corn and wheat crops in 2016, according to the latest data from the country’s Agriculture Ministry.
Total Russian wheat production was pegged at 73.3 million tonnes, up from 61.8 million the previous year. The corn crop came in at 13.8 million tonnes, which was up by 600,000 tonnes on the year.
Bird flu outbreaks continue to raise concerns over global feed demand, with France the latest country to announce massive culls in order to contain the virus.
Read Also
ICE Midday: Canola tumbles to start week
Glacier FarmMedia | MarketsFarm — Canola futures on the Intercontinental Exchange opened the week’s trading with downward momentum, largely due…
Corn futures at the Chicago Board of Trade were stronger on Wednesday, as a rally in soybeans provided spillover support.
Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$169 to C$175 per tonne range as of December 23, which were relatively steady compared to the previous week, according to the latest pricing information from the provincial government. Top end feed wheat prices were also steady, at C$185 to C$190 per tonne in Lethbridge.
Large supplies of low quality feed are flooding the market in Western Canada, limiting the potential for any price strength, according to industry participants.
