CNS Canada — Following are a few highlights in the Canadian and world feed grains markets on Monday, Oct. 19.
• CBOT corn futures were down by two to three cents per bushel at midday Monday, as harvest pressure in the U.S. and improving corn conditions in the Black Sea region weighed on prices.
• El Nino has caused a dry spring in Australia that had badly affected the barley crop. The Australian Crop Forecasters has reduced estimated Australian barley production by four per cent, compared to last month.
• Wheat growers in the New South Wales district of Australia stand to benefit from a 56-km stretch of railway now under construction. The $9.4 million route is expected to be completed this year, according to various reports. Much of Australia’s wheat crop comes from that region.
• The Indian government has increased its wheat import tax due to a shortage of quality wheat in the country. The tax was hiked to 25 per cent from the old mark of 10 per cent.