CNS Canada –– Following are a few highlights in the Canadian and world feed grains markets on Tuesday, Oct. 20.
• The Grains Industry of Western Australia is predicting the area will harvest a 3.19 million-tonne barley crop in 2015-16. However, some recent frosts are casting questions on whether that mark will be reached.
• While Japan has been one of the main signatories to the Trans-Pacific Partnership the extent of the country’s tariff elimination is expected to be much smaller than the 11 other members. For instance, it’s still not clear what will happen with Japanese wheat. There are concerns the country’s farmers will not be able to compete with high volumes of cheaper imports.
• CBOT corn futures were up by one to three cents per bushel at midday Tuesday, as traders moved on ideas that the market had fallen low enough, which was bullish for prices.
• Wheat markets in the EU remain under pressure from France’s record wheat harvest and fierce export competition from the Baltic region as well as Russia, Ukraine and Romania.
• Reports out of China indicate the country plans to slash the amount of money it uses to buy corn for its state-run reserves by as much as 10 per cent.