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Manitoba Corn Holding its Own
08.07.2010 13:27 "Agro Perspectiva" (Kyiv) —
It appears the corn crop in Manitoba has weathered the wet conditions relatively well, with producers also now seeing higher prices locally.
«To tell you the truth, Manitoba’s corn crop is actually looking pretty good,» said Myron Krahn, Vice-President of the Manitoba Corn Producer’s Association.
He acknowledged there is some yellowing of the crop in select areas of the province that were planted a bit later and have poor drainage. But because most of the crop was planted early this spring, development is way ahead of normal.
«The corn fields have received a lot more heat units than (they) had at the same time a year ago and with the steady intervals of precipitation, the crops are easily a couple of feet taller and more developed,» Krahn said.
«Where the crop is good, it’s good, but where the crop is bad, it’s bad.»
With the corn crop being so far advanced in most areas of the province, there should not be any issues with an early frost this fall, he added.
Another positive for Manitoba’s corn producers is that cash bids for the commodity have also taken a turn for the better.
«A lot of that has had to do with the (June 30) USDA acreage and stocks report, which sent U.S. corn prices spiralling upwards,» Krahn said, noting that Manitoba outlets also have had to raise bids in order to keep pace with U.S. values.
Those reports were bullish for corn, with 2010 U.S. acreage and June 1 stocks both coming in below pre-report trade expectations
Krahn noted that cash bids from the Husky Energy ethanol plant are now about C$3.95/bu, compared with $3.50 just a couple of weeks ago.
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