The Canadian Wheat Board’s latest Pool Return Outlook for 2009-10 shows wheat values steady to up $5 per tonne.
Durum values are unchanged. Feed barley is down $2 per tonne while designated barley is steady.
No. 1 CWRS 13.5 protein is $244 per tonne of $6.64 per bushel at port, up $2 per tonne from January.
No. 1 CWAD 13 protein is steady at $202 per tonne or $5.50 per bu. at port.
No. 1 feed barley is $150 per tonne or $3.27 per bu., down $2 from January.
Select CW two-row barley is unchanged at $211 per tonne or $4.59 per bu. and Select CW six-row barley is $193 per tonne or $4.20 per bushel.
The CWB said global supply of wheat and durum is more than ample, keeping downward pressure on prices. Support for wheat prices comes largely from rallies in soybeans and corn, where stocks are less of a burden.
Depreciation of the euro has weakened European demand for durum and prospects for another big North African crop also curb expectations of durum demand.
Australia’s malting barley crop had quality problems, opening the door for Canada and the EU for more business in China. The EU has lots of supply and its weaker currency enhances its competitiveness.
