CNS Canada — Average cash bids for wheat were firmer across Western Canada during the week ended Friday, lifted by strengthening U.S. futures and improving basis levels for some classes of wheat.
CWRS (Canada Western Red Spring) prices were up between C$10 and $16 compared to a week ago, with the best pricing opportunities still available in Manitoba. Manitoba prices were about $209 per tonne, with prices in Saskatchewan ranging from $193 per tonne in the north to $197 in the south. In Alberta, CWRS prices were quoted between $192 and $205 per tonne.
Basis levels saw great improvements, with average discounts across the Prairies at about $2.50 per tonne, compared to $11 per tonne below the futures last week.
Average CPSR (Canada Prairie Spring Red) bids were up by $1.75 to $4.50 across the Prairies, with prices at $147.67 per tonne in Manitoba, $149-$153 per tonne in Saskatchewan and $156-$161 in Alberta. Basis levels were holding steady at about $56 below the futures.
CWSWS (Canada Western Soft White Spring) prices were up by $7.70-$10.30 per tonne on the week, ranging from $143 to $147 per tonne in Alberta. Average winter wheat prices were up between $6 and C$8.20 per tonne during the week, ranging from $132 to $144 per tonne across Western Canada, with the best pricing opportunities in Manitoba.
Durum (CWAD) prices improved during the week, seeing gains of C$13 to $25. Spot durum prices in southern Saskatchewan, where the bulk of the crop is grown, gained about $21 on average to trade at roughly $324 per tonne.
The December spring wheat contract in Minneapolis, off of which most CWRS contracts in Canada are based, was quoted at US$5.435 per bushel on Friday, up 10.25 cents from the previous week.
Kansas City hard red winter wheat futures, traded in Chicago, are more closely linked to CPSR in Canada. The December KC wheat contract gained 4.25 cents during the week and was quoted Friday at US$5.68/bu.
The December Chicago Board of Trade soft wheat contract settled Friday at US$4.8575, up 11.5 cents from the previous week.
— Terryn Shiells writes for Commodity News Service Canada, a Winnipeg company specializing in grain and commodity market reporting.
Table: The weekly snapshot of average published prices released Oct. 6, 2014. Futures vary slightly due to changes while data is collected. Prices in C$ per tonne. Source: AGCanada.com.
|Sask North Central||202.38||-9.94||192.62|
|Sask North Central||210.92||-62.01||148.91|
|Sask North Central||211.03||-76.13||134.90|
|Sask North Central||317.11|