Prairie wheat bids follow U.S. futures lower

(Country Guide file photo)

CNS Canada — Bids for Canada Western Red Spring (CWRS) at moved down at most locations across Western Canada during the week ended Friday, despite mounting weather-related concerns across the Prairies, as losses in U.S. futures weighed on prices.

The highest CWRS prices were still available in Manitoba, but average bids in the province declined by C$5, coming in at $204 per tonne, according to prices quoted from a cross-section of Prairie elevators.

Average Saskatchewan prices ranged from $183 per tonne in the north to from $193 the south. In Alberta, CWRS prices ranged from $180 in the Peace River district to $189 in the southern part of the province.

Average Canada Prairie Spring Red wheat (CPSR) bids in Alberta lost about $5 on average, topping out at $155 to $159 per tonne. In Manitoba and Saskatchewan, average bids for CPRS ranged from $143 in Manitoba, which was down $6 on the week, to $150 per tonne in southern Saskatchewan, down $2.

Soft white spring wheat prices ranged from $140 to $144 per tonne in Alberta and Saskatchewan. Average winter wheat prices ranged from $137 to $163 per tonne across Western Canada, with the best pricing opportunities in Manitoba.

Durum prices in southern Saskatchewan, where the bulk of the crop is grown, lost about five dollars on average to trade at roughly $257 per tonne.

The December spring wheat contract in Minneapolis, off of which most CWRS contracts in Canada are based, was quoted Friday at US$6.1150 per bushel, down 18 cents from the previous week.

Kansas City hard red winter wheat futures, now traded in Chicago, are more closely linked to CPSR in Canada. The December Kansas City wheat contract lost 14 cents during the week, and was quoted at US$6.3825 per bushel on Friday.

The December Chicago Board of Trade soft wheat contract settled Friday at US$5.3525, down 28 cents from the previous week.

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

 

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