The latest Pool Return Outlook for Old crop 2010-11 shows lower wheat and durum prices, reflecting the decline in wheat futures markets in the last month.
The earthquake in Japan, unrest in North Africa and the Middle East and projections of relatively comfortable wheat stocks at the end of the current crop year have weakened the price outlook for wheat and durum.
Wheat values are down by $1 to $10 per tonne from last month’s PRO, while projections for milling-durum returns have declined by $16 to $18 per tonne.
Feed barley and designated barley values are unchanged from last month’s outlook.
The CWB has priced about 72 percent of the expected 2010-11 crop year deliveries of wheat.
It expects to have priced about 89 percent by the end of May.
