By Commodity News Service Canada
WINNIPEG, Feb. 17 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Wednesday, February 17.
– CBOT corn futures were stronger on Wednesday, with speculative short-covering a feature as the market reacted to a rally in crude oil. The March contract was up 4.25 cents at US$3.6725 per bushel.
– The US ethanol industry produced a record 14.7 billion gallons of ethanol in 2015 and a record 40 million tonnes of distillers dried grains, according to the country’s Renewable Fuel Association.
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– Japan received no offers for its latest feed wheat and barley tender, according to reports. The country’s Ministry of Agriculture had been looking for 120,000 tonnes of feed wheat and 200,000 tonnes of feed barley in a simultaneous buy and sell (SBS) auction.
– Russia’s grain exports out of Russian ports were down by 6.1 per cent in January compared to the same month the previous year, with 1.8 million tonnes moving out of the country, according to reports.
– Corn production in Zimbabwe has been decimated by drought this year, and is importing corn from Zambia and Ukraine. The country is also expected to import from South Africa, despite that country dealing with its own issues, and importing large supplies itself.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$214 to C$215 per tonne area as of February 12, which was up by two to three dollars compared to the previous week, according to provincial reports. Feed wheat prices were in the C$230 to C$232 range.
