CWRS wheat bids edge up across Western Canada

WINNIPEG — Average cash bids for Canadian Western Red Spring wheat edged up by $1 per tonne on average during the week ended Dec. 12.

In Manitoba, the average CWRS price rose to just under $234 per tonne from $233 per tonne the previous week. The gains were similar across the rest of the Prairies, with average prices in Alberta and Saskatchewan ranging from $224 to $230 per tonne.

Basis levels for CWRS held relatively steady in most areas.

Average Canadian Prairie Red Spring wheat bids were also up during the week, rising by $2 to $3 per tonne. Average prices came in at around $179 per tonne in Manitoba and $178 to $188 per tonne in Saskatchewan and Alberta.

Soft white spring wheat prices posted the biggest gains during the week, rising by $15 on average in Alberta ,where prices ranged from $194 to $197 per tonne. Winter wheat prices were up by $2 to $4 from the previous week, with average values ranging from $164 to $176 per tonne across Western Canada.

Average durum prices were steady to a bit firmer, with spot bids in southern Saskatchewan, where the bulk of the crop is grown, unchanged at roughly $353 per tonne.

The March spring wheat contract in Minneapolis, which most CWRS contracts in Canada are based off of, was quoted at US$6.2075 per bushel Dec. 12, down 2.25 cents from the previous week.

The Kansas City hard red winter wheat futures, which are now traded in Chicago, are more closely linked to CPRS in Canada. The March Kansas City wheat contract was quoted at $6.3425 per bushel Dec. 12, down five cents from the previous week.

The March Chicago Board of Trade soft wheat contract settled at $6.0650 Dec. 12, which was up 12.5 cents from the previous week.

The following table provides a weekly snapshot of average published prices, available on Monday of each week. Futures vary slightly due to changes while data is collected. Prices are in Canadian dollars per tonne released Dec. 12, 2014.

CNS-chart

Source: AGCanada.com

About the author

Commodity News Service Canada's recent articles

Comments

explore

Stories from our other publications