CWRS wheat bids edge up across Prairies

CNS Canada –– Average cash bids for Canada Western Red Spring (CWRS) wheat edged up by a dollar per tonne on average during the week ended Friday.

In Manitoba, the average CWRS price rose to just under $234 per tonne, from $233 the previous week. 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 Canada Prairie Spring Red (CPSR) wheat bids were also up during the week, rising by about by $2 to $3 per tonne. Average prices came in at around $179 per tonne seen in Manitoba, and $178-$188 per tonne in Saskatchewan and Alberta.

Soft white spring (CWSWS) 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 (CWRW) 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 (CWAD) 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, off of which most CWRS contracts in Canada are based, was quoted Friday at US$6.2075 per bushel, down 2.25 cents from the previous week.

Kansas City hard red winter wheat futures, traded in Chicago, are more closely linked to CPSR in Canada. The March Kansas City wheat contract was quoted at US$6.3425 per bushel on Friday, down five cents from the week prior.

The March Chicago Board of Trade soft wheat contract settled Friday at US$6.065, up 12.5 cents from the previous week.

— Phil Franz-Warkentin writes for Commodity News Service Canada, a Winnipeg company specializing in grain and commodity market reporting.

Table: The weekly snapshot of average published prices, available on Monday of each week. Futures vary slightly due to changes while data is collected. Prices as of Dec. 12, 2014, in Canadian dollars per tonne. Source: AGCanada.com.

CWRS Future…… Basis…… Net
Manitoba 231.38 3.23 234.61
Sask North Central…… 231.41 -6.46 224.95
Sask South 232.13 -3.71 228.42
Alberta South 229.04 1.05 230.09
Alberta Central 230.25 -2.60 227.65
Peace 231.01 -5.55 225.47
CPSR Future Basis Net
Manitoba 237.30 -57.84 179.47
Sask North Central 235.86 -57.32 178.54
Sask South 237.99 -54.45 183.54
Alberta South 233.87 -47.18 186.69
Alberta Central 234.89 -46.18 188.72
Peace 236.13 -53.07 183.07
CWSWS Future Basis Net
Alberta South 222.73 -28.49 194.24
Alberta Central 222.76 -26.61 196.15
Peace 225.05 -22.61 197.45
CWRW Future Basis Net
Manitoba 236.18 -59.83 176.36
Sask North Central 235.91 -66.08 169.83
Sask South 237.34 -61.04 176.30
Alberta South 233.00 -68.70 164.30
Alberta Central 234.78 -65.26 169.52
Peace 236.13 -64.90 171.24
CWAD     Net
Sask North Central 364.47
Sask South 353.67
Alberta South 367.41
Alberta Central 372.92

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