WINNIPEG — CWB has lowered its price projections for winter pool wheat and durum marketed during the current 2014/15 (Aug./July) crop year its latest report, as export demand backs away and basis levels fade.
Wheat pool return outlooks were down by $13 to $14 per tonne compared to the February report, despite gains in the U.S. futures, as buyers are believed to be covered for the time being. World wheat crops remain in relatively good shape overall, according to the report, although some concerns were noted in US and Russian winter wheat crops.
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Durum PROs were down by $3 to $12 per tonne compared to the previous month, with the biggest losses in the higher quality classes. Good growing conditions in Europe and North Africa, together with expectations for increased North American acreage, were said to be weighing on durum values.
The following are CWB’s pool return outlooks detailing estimated payments to farmers for grain delivered during the 2014-15 (Aug./July) crop year, in Canadian dollars per tonne, basis in store St. Lawrence/Vancouver.
CWB PRO (per tonne)
In store Vancouver or St. Lawrence
Winter Pool
Wheat 26-Mar 26-Feb
1 CWRS 14.5 272.00 285.00
1 CWRS 14.0 269.00 282.00
1 CWRS 13.5 266.00 279.00
1 CWRS 13.0 263.00 276.00
1 CWRS 12.5 258.00 271.00
1 CWRS 12.0 253.00 266.00
1 CWRS 11.5 248.00 261.00
2 CWRS 14.5 269.00 282.00
2 CWRS 14.0 266.00 279.00
2 CWRS 13.5 263.00 276.00
2 CWRS 13.0 260.00 273.00
2 CWRS 12.5 255.00 268.00
2 CWRS 12.0 250.00 263.00
2 CWRS 11.5 245.00 258.00
3 CWRS 13.0 244.00 257.00
3 CWRS 12.5 239.00 252.00
3 CWRS 12.0 234.00 247.00
3 CWRS 11.5 229.00 242.00
1 CWRW 225.00 238.00
2 CWRW 223.00 236.00
3 CWRW 215.00 228.00
Durum
1 CWAD 13.0 417.00 429.00
1 CWAD 12.5 414.00 426.00
1 CWAD 11.5 408.00 420.00
1 CWAD 401.00 413.00
2 CWAD 13.0 404.00 416.00
2 CWAD 12.5 400.00 412.00
2 CWAD 11.5 394.00 406.00
2 CWAD 387.00 399.00
3 CWAD 13.0 355.00 362.00
3 CWAD 11.5 346.00 353.00
3 CWAD 339.00 346.00
4 CWAD 307.00 310.00
Futures Choice Winter Pool
26-Mar 26-Feb
Wheat Minneapolis May 2015 Basis
1 CWRS 14.5 19.00 33.00
1 CWRS 14.0 16.00 30.00
1 CWRS 13.5 13.00 27.00
1 CWRS 13.0 10.00 24.00
1 CWRS 12.5 5.00 19.00
1 CWRS 12.0 0.00 14.00
1 CWRS 11.5 -5.00 9.00
2 CWRS 14.5 16.00 30.00
2 CWRS 14.0 13.00 27.00
2 CWRS 13.5 10.00 24.00
2 CWRS 13.0 7.00 21.00
2 CWRS 12.5 2.00 16.00
2 CWRS 12.0 -3.00 11.00
2 CWRS 11.5 -8.00 6.00
3 CWRS 13.0 -9.00 5.00
3 CWRS 12.5 -14.00 0.00
3 CWRS 12.0 -19.00 -5.00
3 CWRS 11.5 -24.00 -10.00
