CWB’s wheat PROs up for annual, winter pools

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Published: May 22, 2014

CWB released new pool return outlooks May 22 for the 2014-15 crop year.

Wheat returns for annual and winter pools are up $3 from the previous PROs, which were published April 24.

Wheat returns for the early delivery pool are unchanged.

Returns for all other crops handled by CWB are steady or higher.

Projected returns for durum range from $6 to $11 per tonne higher, depending on grade, protein and pooling program.

PROs for canola are up $10 for the early delivery pool, up $4 for the annual pool and unchanged for the winter pool.

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Projected returns for malt barley and field peas are up $10 and $18 per tonne, respectively.

Canola returns are now projected at $504-$505 per tonne, in-store, Vancouver or St. Lawrence.

Returns for 2 Canada Yellow field peas are $293, in store.

PROs for Select two-row malt are $290 per tonne.

In its PRO commentary, CWB said Minneapolis wheat futures for the July 2014 contract through to December 2015 are in the range of $7.35 to $7.70 per bushel, up slightly from a month ago.

Futures values are improving because of dryness in the southern U.S. Plains winter wheat crop and seeding delays in Western Canada, North Dakota and Minnesota.

Risk associated with political turmoil in Ukraine is also providing some price support.

In durum, prices have improved because of seeding delays in Western Canada and North Dakota.

Production problems in Turkey and Italy could also lead to increased import demand.

Malting barley prices have improved, partly because of reduced global acreage, which is translating into tighter supplies in the European Union and Black Sea region, CWB added.

PROs for No. 1 CWRS, 12.5 percent protein in the early delivery pool are now listed at $297 per tonne, in store.

Full details on the May 22 PROs can be viewed on the CWB website at www.cwb.ca.

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Brian Cross

Brian Cross

Saskatoon newsroom

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