Feed: China expected to cut back on corn stockpiles

CNS Canada — Following are a few highlights in the Canadian and world feed grains markets on Friday, Oct. 23.

• Corn futures at the Chicago Board of Trade were down one to two cents in early activity on Friday as strength in the U.S. dollar weighed on the commodity.

• Cash prices for delivered elevator barley ranges from C$3.28 to $3.80 in Saskatchewan, C$3.65 to $4 in Manitoba, and C$3.50 to $4.57 in Alberta, according to Prairie Ag Hotwire.

• About 100.1 million tonnes of U.S. feed grains were exported in the 2014-15 marketing year, a 800,000-tonne increase from 2014, the U.S. Grains Council (USGC) said Friday.

• U.S. cattle futures have seen recovery, closing up on Thursday, and improving by US$6.75 from levels seen five days earlier. A recovery in futures could hint at improved feed demand.

• China is expected to cut back on its stockpiles, and the country’s government has been offering subsidies to encourage domestic grain use.