By Commodity News Service Canada
WINNIPEG, Nov. 3 (CNS Canada) – Corn futures at the Chicago Board of Trade were up on Thursday, as solid US export demand helped counter the seasonal harvest pressure.
However, feeder cattle futures in the US were down, as values backed away from the one-month highs hit the previous session.
In an effort to cut down on waste, China intends to reduce its usage of open-air storage by 95 per cent by 2020, according to government documents. China has added 82.5 million tonnes of grain storage capacity over the past five years, according to reports, but an estimated 100 million tonnes of grain are still stored in open-air facilities.
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In other news, Ukrainian corn shipments are running well behind average, with only 56,700 tonnes shipped during September, according to reports from UkrAgroConsult. That compares with over 150,000 tonnes during the same month the previous year. However, the numbers reportedly picked up in October.
Top end feed barley bids in Manitoba are showing some improvement, according to the latest Prairie Ag Hotwire data showing bids as high as C$3.50 per bushel. That’s up by fifty cents from the previous day and by 70 cents on the month.
