By Commodity News Service Canada
WINNIPEG, Nov. 10 (CNS Canada) – CORN futures on the Chicago Board of Trade rose two cents per bushel on steady demand from end-users. The market was also correcting itself in the wake of yesterday’s losses.
The Russian corn harvest continues to chug along with the government estimating 14.5 million tonnes has been collected so far. Meanwhile, the USDA bumped up its forecast for world corn production in the 2016/17 season to 1.03 billion tonnes.
A hay industry consultant in Australia says this year’s wet weather has affected hay yields in several areas. Colin Pearce says the stem thickness is higher which suggests the crop is coming in at a higher fibre levels than last year. Yields could hit seven large square bales an acre compared to one bale last year.
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