CNS Canada — Average cash bids for Canada Western Red Spring (CWRS) wheat were firmer across Western Canada during the week ended Friday, lifted by improving basis levels in many areas as quality problems and slow harvest progress remain a concern for the Canadian spring wheat crop.
The highest CWRS prices were still available in Manitoba, as average bids in the province gained about $7 from the previous week, coming in at roughly C$197 per tonne, according to prices quoted from a cross-section of Prairie elevators.
Average Saskatchewan prices were up by about $6, ranging from $179 per tonne in the north to $187 in the south. In Alberta, CWRS prices gained between $6 and $17, ranging from $178 to $189 per tonne.
Basis levels saw improvements, with average discounts across the Prairies at about $11 per tonne, compared to $18 below the futures last week.
Average Canada Prairie Spring Red wheat (CPSR) bids were up by $9 in Manitoba, at $146 per tonne. In Saskatchewan, prices were up by $7-$8, while Alberta prices gained $12 to $13.
Soft white spring wheat prices were up by $10-$13 on the week, ranging from $136 to $138 per tonne in Alberta. Average winter wheat prices were steady to slightly higher during the week, ranging from $125 to $136 per tonne across Western Canada, with the best pricing opportunities in Manitoba.
Durum prices improved during the week, with many areas now seeing prices above $300 per tonne. Spot durum prices in southern Saskatchewan, where the bulk of the crop is grown, gained about $13 on average to trade at roughly $303 per tonne.
The December spring wheat contract in Minneapolis, off of which most CWRS contracts in Canada are based, was quoted at US$5.3325 per bushel on Friday, 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 December Kansas City wheat contract gained 3.5 cents during the week, and was quoted at US$5.6375 per bushel on Friday.
The December Chicago Board of Trade soft wheat contract settled at US$4.7425 on Sept. 19, down a quarter of a cent from the previous week.
— Terryn Shiells writes for Commodity News Service Canada, a Winnipeg company specializing in grain and commodity market reporting.
Table: A weekly snapshot of average published prices, available on Monday of each week. Futures vary slightly due to changes while data is collected. Prices in Canadian dollars per tonne released Sept. 29, 2014. Source: AGCanada.com
|Sask North Central||196.06||-16.93||178.91|
|Sask North Central||206.83||-61.48||145.36|
|Sask North Central||206.84||-79.49||127.35|
|Sask North Central||299.36|