Agricore's Grain Handle Slips

WINNIPEG - Sep 8/05 - SNS -- Agricore United's share of the western Canadian grain handle declined during the nine months ending July 31, falling from 35.2% last year to 34.3% this year.

The Canadian Grain Commission (CGC) reported an 816,000 metric ton (MT) decrease in industry shipments of the six major grains (wheat, barley, oats, canola, flax, peas) for the quarter and a 273,000 MT decrease in industry shipments for the nine months ended July 31, 2005.

Despite higher production from the 2004 crop, delays in producer deliveries of grain into the primary elevator system reduced recent industry-wide grain shipments and contributed to increased carryout stocks, estimated to be 15.8 million MT (an increase of 4.8 million MT or 43% over the prior year), Agricore noted in its latest report to shareholders.

Although the company increased its shipments of non-Canadian Wheat Board (CWB) grains in the quarter compared to the prior year, lower country shipments of CWB grain contributed to a 442,000 MT net decrease in Company shipments for the quarter.

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