By Commodity News Service Canada
Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Thursday, November 26.
– CBOT corn futures were untraded on Thursday, with US markets closed for the Thanksgiving holiday.
– US ethanol production topped 1 million barrels per day for the first time ever during the week ended November 20, according to data released by the US Department of Energy on Wednesday. Corn is the primary feedstock for ethanol in the country.
– Iran is looking to become self-sufficient in grain production, and is forecasting a 10 million tonne wheat crop in the upcoming crop year (beginning in March), according to reports from the country. Iran recently created import tariffs for wheat and barley, to help limit cheap imports.
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– The CBC reports that a number of farmers in Prince Edward Island have started growing malt barley in recent years in an effort to cash in on the craft beer market. However, the lack of a malt house in the island province was cutting into the profitability.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$220 per tonne area as of November 20, according to provincial reports. Feed wheat prices are in the C$230 range. The average bids for both grains were relatively steady compared to the previous week.
