Feed Grains: Indian wheat stockpiles grow

By Commodity News Service Canada

Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Tuesday, Dec. 12.
Prices for feed wheat in Saskatchewan are holding steady, according to the latest information from the Prairie Ag Hotwire. Bids are listed as C$3.90 to C$5.00 per bushel.
Oat prices in Alberta are also keeping firm. Bids are priced at C$2.54 to C$3.25 per bushel.
Feed barley bids in the key cattle feeding area of Lethbridge, Alberta held steady during the week ended Dec. 8 to range from C$220 to C$225 per tonne, according to the latest pricing information from the provincial government. Feed wheat prices were down by five dollars on the top end, to also range from C$220 to C$225 per tonne in Lethbridge.

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Corn futures at the Chicago Board of Trade fell one cent on Tuesday in the wake of the USDA’s supply and demand report. The USDA estimated that ending stocks in the U.S. were 2.427 billion tonnes. That is 40 bushels higher then pre-report guesses. The agency also raised its projection for ethanol use to 5.5 billion bushels.
Feed barley bids in Montana rose 12 cents over the past week and are going for C$3.24 to C$3.71 a bushel.
Russia has shipped over 5.5 million tonnes of grain to Egypt this year, according to the country’s president Vladimir Putin. Putin held talks this week with Egyptian President Abdel Fattah Al-Sisi about grain sales between the two countries.
Indian wheat production is on the rise. According to a report on grainboard.ru, Indian wheat stocks were nearly 24 million tonnes as of November 1. That is 27 per cent higher than the previous year. Acreage is up by five per cent this year as residents choose to eat less rice in favour of other grains. The government also has in place a 20 per cent duty on wheat imports.