By Commodity News Service Canada
Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Wednesday, October 18.
Prices for feed barley in Saskatchewan rose 35 cents per bushel last week, according to the latest information from the Prairie Ag Hotwire. Bids are C$3.15 to C$3.65 per bushel.
Feed barley bids in North Dakota ticked upwards by 10 cents last week and are now locked in a range of C$2.63 to C$3.01 a bushel.
Oat prices in Manitoba fell seven cents and are currently going for C$2.78 to C$2.95 per bushel.
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Feed barley bids in the key cattle feeding area of
Lethbridge, Alberta were in the C$210 to C$212 per tonne range
as of October 13, which were three dollars weaker at the low end compared to the previous week, according to the latest pricing information from the provincial government. Feed wheat prices were five dollars weaker at the high end, coming in at C$215 to C$220 per tonne in Lethbridge.
Drought in South Africa is severely curtailing the country’s economy. A report by the Western Cape Economic Opportunities MEC estimates SA$4.9 billion could be lost in the agriculture sector alone. Falling water reserves and outbreaks of bird flu were other major contributors to that amount.
There is growing speculation China may cut its corn subsidies. The government apparently wants to encourage its farmers to grow more soybeans, according to a report by APK-Inform. Corn-growing states in China could reportedly see a 13% reduction in grain subsidies during the current marketing year.
Corn futures at the Chicago Board of Trade fell roughly one cent per bushel on Wednesday, tracking spillover losses in wheat. Yield reports in the U.S. are coming in slightly better than expected, which accounted for some of the weakness. South Korea purchased 65,000 tonnes of corn in a private sale.
In North Dakota, corn prices increased by two cents per pound and are now going for C$3.13 to C$3.36 a bushel.
