Food Industry
Industry: Email Alert RSS FeedStrong CBOT Oats Futures Not Tied To Canadian Crop.
Resource News International, June, 2007
Byline: Phil Franz-Warkentin, Resource News International
WINNIPEG, MB, Jun 13, 2007 (Resource News International via COMTEX) -- The strength seen by oats futures at the Chicago Board of Trade (CBOT) over the past month has very little to do with the state of the Canadian oats crop, according to industry sources.
New crop December oats futures in Chicago have increased by roughly 40 cents per bushel over the past month, setting fresh contract highs near US$2.90 per bushel.
"I think a lot of the movement in the oats futures has more to do with outside sources than oats itself," said Dennis Galbraith, of central-Manitoba's Can-Oat Milling. "Corn and beans are driving everything along," he added.
Galbraith said that while there had been...
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