By Commodity News Service Canada
WINNIPEG, Nov. 2 (CNS Canada) – Corn yields in the United States likely ended up above earlier estimates, according to an updated forecast from Informa Economics. Ahead of the USDA’s next supply/demand report, the analytical firm pegged the country’s corn yields at 173.4 bushels per acre. That would be up by about 1.6 bushels per acre from the USDA’s October forecast.
Corn futures at the Chicago Board of Trade posted small gains on Thursday, finding some spillover support from the neighboring soybean and corn markets. However, the rising yield expectations for the U.S. crop tempered the upside.
Weekly U.S. corn export sales of 811,000 tonnes came in below average trade guesses. However, the USDA also reported a separate sale of 1.3 million tonnes of corn to Mexico.
Feed barley bids in the key cattle feeding area of Lethbridge, Alberta ranged from about C$205 to C$213 per tonne as of October 27, according to the latest pricing information from the provincial government. Feed wheat prices range from C$212 to C$220 per tonne in Lethbridge.
