By Commodity News Service Canada
WINNIPEG, Feb. 29 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Monday, February 29.
– CBOT corn futures were weaker on Monday, with the May contract down 2.5 cents at US$3.57 per bushel.
– The International Grains Council expects the global trade in sorghum to hit 10.6 million tonnes in 2015/16, which would be a 10% drop on the year. China and Japan, two major importers, are both expected to see a reduction in demand. However, global consumption is still expected to rise slightly, hitting 66.6 million tonnes, with the US acting as the world’s largest buyer and producer of the crop.
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– Russian grain production is forecast to rise by 25% by 2030, hitting 130 million tonnes, according to the country’s agriculture ministry. Both yields and planted area are forecast to rise.
– Farmers in southern Ukraine are in the early stages of seeding their spring crops, with 14,000 hectares of spring barley (or 1% of the expected area) in the ground as of February 26, according to the country’s agriculture ministry.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$210 to C$214 per tonne area as of February 26, which was up by one to five dollars compared to the previous week, according to provincial reports. Feed wheat prices were in the C$225 to C$235 range, which was down by three to five dollars.
