Winnipeg, Dec. 18 – CWB’s Pool Return Outlooks (PROs) for wheat are up in its latest report, due to a recent sharp rally in U.S. wheat futures.
Wheat PROs range from $15 to $30 per tonne higher, with uncertainty over Russian winter wheat exports supporting the advances.
The conditions for U.S and European winter wheat crops remain good overall, though there are some worries about dry weather in Russia.
U.S. wheat exports remain strong, contributing to the firmness in the U.S. futures.
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PROs for durum were lowered, to range from $361 to $480 per tonne, from $367 to $486 in the last report.
Durum vuyers are adjusting to the lower quality supply this year, which weighed on values, the report said.
Recent rain in Mediterranean growing regions has benefited durum crop development there.
Canola PROs were unchanged compared to the last report. Canola futures have been strong lately, following soybeans. Canola crushers and exporters remain steady buyers, according to the report.
Field pea PROs were unchanged as well, as the market remains steady overall.
For a full list of PROs see www.cwb.ca.
