By Commodity News Service Canada
Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Thursday, October 29.
– CBOT corn futures were higher on Thursday, with the December contract up four cents, at US$3.8000 per bushel, as solid weekly export demand provided some support.
– The International Grains Council has raised its world grain production estimate by 3 million tonnes, to 1.999 billion. The IGC said an increase in the US corn crop, together with better-than-expected Canadian and EU barley production, contributed to the upward revision. However, total grain supplies are still expected to be down by 27 million tonnes compared to the previous year.
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Feed grains weekly: Prices bump up
To Darcy Haley, vice-president of Ag Value Brokers in Lethbridge, there are two main reasons for recent increases for feed barley and wheat. Haley said on March 12 that there’s an ongoing lack of farmer selling, plus stiff competition from the grain companies looking to export barley.
– A deadline to implement Positive Train Control (PTC) measures on railroads in the US has been postponed by three years by the US government. Rail companies had said they would not be able to meet the December 31, 2015, deadline to meet the safety requirements, and were threatening possible service disruptions.
– Chinese buyers have temporarily stopped purchasing US DDGS amid concerns that the country will launch a new anti-dumping probe.
– Feed barley bids in the key cattle feeding area of Lethbridge, Alberta are in the C$210 to C$220 per tonne area, according to provincial reports. Feed wheat prices are in the C$215 to C$230 range.
