siteadmin posted on March 17, 2011 11:28
from SmallGrains.org
March 11, 2011
"Canadian feed wheat is flowing into the southeastern United States in the largest quantities for more than a decade, highlighting tight U.S. corn supplies and a surplus of feed wheat in Canada, several trade sources said.
Wilmington Bulk LLC, a consortium of North Carolina poultry and swine producers including Smithfield Foods, has bought between 100,000 and 200,000 tonnes of Western Canadian feed wheat, industry sources in Canada and the United States said.
Strong demand from ethanol producers has driven corn stocks to a 15-year low, while Canada has more feed wheat than usual after excessive rain last year and untimely frost."
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and from Market to Market
March 11, 2011
"Reuters News Service reported this week that Canadian wheat appears to be flowing into the southeastern United States in the largest quantities in more than a decade.
Wilmington Bulk LLC, a consortium of North Carolina poultry and swine producers including Smithfield Foods, has purchased between 100,000 and 200,000 tons of Western Canadian feed wheat
According to Reuters, strong demand from U.S. ethanol producers has driven corn stocks to a 15-year low, while Canada has more feed wheat than usual after excessive rain last year and untimely frost.
The development was not a welcome development for U.S. wheat producers who also contended this week with a bearish USDA report on global supply and demand.
USDA officials kept estimates for U.S. corn ending stocks even with last month, while increasing the numbers for world stocks. Though domestic supplies were considered tight, global corn stockpiles were pronounced adequate.
Oilseeds received the same judgment as corn. Estimates for domestic soybean ending stocks in March remained unchanged while the peg for global stocks moved slightly higher.
USDA also called global and domestic wheat stocks adequate. World ending stocks for the small grain grew by 2 percent over February because of higher production numbers, while domestic wheat ending stocks were projected slightly higher due to reduced exports.
The market digested the news, trended slightly downward and moved on as the trade awaits the prospective plantings report due at the end of the month."
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