By Commodity News Service Canada
WINNIPEG, March 1 (CNS Canada) – Logistics issues preventing timely movement of US grain to Japan have forced the Asian country to dip into its strategic reserves, according to reports.
The country has reportedly released about 340,000 tonnes of its 850,000 tonne stockpile.
Chicago Board of Trade corn futures were up on Wednesday, seeing some follow-through fund buying interest on rumoured changes to the US renewable fuels policy that would see increased domestic ethanol production.
Weekly US ethanol production is already running at solid levels, with over one million barrels produced for the eighteenth straight week, according to reports.
Feed barley bids in the key cattle feeding area of Lethbridge, Alberta were in the C$154 to C$164 per tonne range as of February 24, which were down slightly compared to the previous week, according to the latest pricing information from the provincial government. Top end feed wheat prices were also down, at C$170 to C$180 per tonne in Lethbridge.
