CNS Canada — Average cash bids for Canada Western Red Spring (CWRS) wheat deteriorated slightly during the week ended Friday, as losses in the US futures weighed on values.
CWRS prices were $2-$5 per tonne lower across the three Prairie provinces, with average values ranging from about $205 per tonne in north-central Saskatchewan to $219 per tonne in Manitoba. Basis levels improved in many locations, averaging about $15.80 below the futures, from $18.10 the previous week.
Average Canada Prairie Spring Red (CPSR) bids were down by about $3-$8 across the Prairies, with prices at $169 per tonne in Manitoba, $167-$170 per tonne in Saskatchewan and $179-$183 in Alberta. Basis levels, at about $55 below the futures on average, saw a $4 improvement on the week.
Soft white spring (CWSWS) wheat prices were lower following the CBOT (Chicago Board of Trade) wheat market, with bids down about $5 per tonne on the week, ranging from $177 to $180 per tonne in Alberta. Winter wheat prices were down $3-$5 on average, ranging from $158 to $174 per tonne across Western Canada.
Durum prices were down $3-$7 per tonne, with spot bids in southern Saskatchewan, where the bulk of the crop is grown, at roughly $349 per tonne.
The March spring wheat contract in Minneapolis, off of which most CWRS contracts in Canada are based, was quoted at US$6.11 per bushel on Friday, down 20.5 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$6.17 per bushel on Friday, down 27.25 cents from last week.
The December CBOT soft wheat contract settled Friday at US$5.8125, 29.5 cents lower compared to the week prior.
— Phil Franz-Warkentin writes for Commodity News Service Canada, a Winnipeg company specializing in grain and commodity market reporting.
Table: The weekly snapshot of average published prices available on Monday of each week, as of Jan. 5, 2015. Futures prices (US$ per tonne) vary slightly due to changes while data is collected. Cash bids are in C$ per tonne, with currency conversion included in the basis. Source: AGCanada.com.
|Sask North Central…..||228.29||-22.64||205.65|
|Sask North Central||229.57||-62.51||167.06|
|Sask North Central||229.64||-71.67||157.97|
|Sask North Central||361.83|