By Commodity News Service Canada
WINNIPEG, Apr. 21 (CNS Canada) – Following are a few highlights in the Canadian and world feed grains markets on Thursday, April 21.
– CBOT corn futures finished 10 cents lower on Thursday, with the July contract at US$3.8975 per bushel. Cheaper priced corn from Argentina and Brazil weighed down the market.
– Wet weather isn’t expected to cut into corn yields in Texas, according to a report in The Gilmer Mirror. An official with the Texas A&M Agrilife Extension Service said corn plants in the east and southern portions of the state had emerged and were already waist high or in the six-leaf stage.
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– Recent strength in the US dollar could soon allow other countries to surpass it in wheat sales. Both Russia and Canada are on pace to surpass the US as the top exporter according to figures from the USDA. It says wheat exports from the US will drop 9.3 percent this year alone.
– Dry, hot conditions are stressing corn crops in the southwest region of Brazil. Reports out of the country indicate losses could hit 20% if rain doesn’t fall during the crucial flowering stage and grain filling period.
– Delegates attending an agriculture conference this week in South Africa were told Africa spent US$15 billion on wheat imports last year. That trend is expected to continue, according to African Union official Ringson Chitsiko who called for renewed efforts to grow wheat on the continent.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$210 to C$215 per tonne range as of April 15, which was up C$1 to $2 as the week before, according to provincial reports. Feed wheat prices were in the C$230 to C$240 range, which saw both the top end and bottom end expand from the previous week.
