By Commodity News Service Canada
Aug. 9 (CNS Canada) – U.S. corn gained today ahead of supply/demand reports expected from the United States Department of Agriculture tomorrow. That report is expected to include USDA assessments of corn crops based on field surveys. Many analysts believe that will lead to lower government forecasts for the crop because lower yield estimates are anticipated.
The September contract for Chicago corn settled at US$3.72.25 per bushel, up 2.5 cents U.S. The December contract closed today at US$3.86.25/bu., an increase of 2.5 cents U.S., and the March contract closed at US$3.98/bu., a gain of 2.25 cents U.S.
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In the key feedlot area of Lethbrige County, grain prices, delivered were as follows on Agfinity.com (quality dependent):
Spring thrashed, per bushel
– Barley: C$3.50-C$4
– Wheat: C$4.55-C$4.65
– Canola: C$7.50-C$8.50 (20-50% damaged)
– Oats: C$2.00
– Peas: C$6.00 – 6.50
Fall thrashed, per bushel
– New crop barley – Sept.-Dec. delivery: C$4.35-C$4.40
– Nov.-Dec. delivery: C$4.45-C$4.50
– #1/2CPSR Wheat, new crop – C$6.50-plus for fall and winter delivery; C$6.25 for summer.
– 2CW oats for July-Aug. delivery, C$3.15
– 3 CW oats for July-Aug. delivery, C$3.00
– Feed oats for July-Aug. delivery, C$2.25-C$2.50
About 26,250 tonnes of new crop feed barley has been exported from the United Kingdom to Spain. The shipment is expected to help ease growing livestock feed shortages in Spain, which has been hit by drought.
Russia’s grain harvest in some areas is lagging behind last year’s pace, but in other areas, it is ahead.
The Volga and Central districts are behind, while farmers in the South and North Caucasian areas are ahead of the 2016 pace.
Overall, as of Aug. 4, Russian farmers had harvested 46.8 million tonnes of grains and pulses. That’s behind the 55.4 million tonnes harvested at this point last year. Broken down, Russian farmers have harvested 39.5 million tonnes of wheat so far (41.9 million tonnes at this point in 2016) and 5.17 million tonnes of barley (7.1 million tonnes last year.)
Ukraine continues to export corn at record volumes, said broker UkrAgroConsult.
Ukraine has exported 20.1 million tonnes of corn to all destinations for the 10 months of this crop year, about 20 per cent more than all of the 2016 shipping season. About 9 million tonnes have been shipped to the European Union, for 2016-17, up five per cent from the previous year.
