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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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.