Wheat values are higher in the latest CWB Pool Return Outlooks for the 2013-14 annual and futures choice annual pools.
Projected returns relative to the last PROs issued Sept. 26 are $16 per tonne higher for all grades of spring wheat and $10 higher for canola.
Estimated returns for malt barley are down $5.
Durum spreads continue to widen, resulting in projected returns ranging from $1 per tonne higher to $12 per tonne lower, depending on quality.
In its Oct. 10 PRO commentary, CWB said wheat futures markets have rallied on the strong pace of U.S. wheat exports, support from futures technical trading and concerns about crop prospects in Argentina and the Black Sea region.
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Minneapolis wheat futures prices for the December 2013 contract through to December 2014 are in the range of $7.50 to $7.70 US per bushel, while the Canadian dollar continues to trade within a narrow range of 96.1 and 97.4 cents against the U.S. dollar.
Farmers in the CWB’s futures choice annual pool can expect a final return for No. 1 CWRS, 13.5 percent protein in store port position to be the December 2013 futures value that they lock in plus $16 per tonne, CWB said.
Durum export values have been steady, it added.
The PRO reflects widening protein and grade spreads consistent with the low protein and variable quality of the western Canadian durum crop.
Malting barley prices continue to decline at export position and in the country. Australian malting barley prospects could pressure malt barley values lower.
For more information, visit www.cwb.ca.
