Feed Grains: Corn traders wait for election, USDA report

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By Commodity News Service Canada

WINNIPEG, Nov. 7 (CNS Canada) – CORN futures in Chicago softened by two cents per bushel on Monday as US farmers make rapid harvesting progress due to the warm weather. Traders were likely positioning themselves ahead of tomorrow’s US election as well as the release of Wednesday’s supply and demand report, compiled by the USDA.
Oats on the Chicago Board of Trade have rallied over 50 cents per bushel since the beginning of October. The move has helped create a sudden increase in Prairie oat cash bids, according to ProFarmer Canada.

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Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$170 to C$180 per tonne range as of November 4, which was up one to five dollars from the previous week, according to the latest pricing information from the provincial government. Top end feed wheat prices were also slightly firmer, ranging from C$188 to C$195 per tonne in Lethbridge.
Shipments of grain across Western Canada appear to be up. Canadian Pacific announced that, despite the poor weather, October was its best-ever month for grain movement through to Vancouver.