CNS Canada — Average bids for Canada Western Red Spring (CWRS) wheat across Western Canada held relatively steady during the week ended Friday, with slight improvements in basis levels generally compensating for declines in the U.S. futures, according to average prices quoted from a cross-section of Prairie elevators.
CWRS bids remain the strongest in Manitoba, with the average price coming in at C$209 per tonne, from $210 the previous week. Average Saskatchewan prices were pegged at $189 per tonne, from $191 the previous week. In Alberta, CWRS prices ranged from $188 in the Peace River district to $198 in the south, with most elevators only shifting their price by $1 or $2 from the previous week.
Average Canada Prairie Spring Red (CPSR) wheat bids topped out at C$165 per tonne in central Alberta, up a dollar from the previous week. In Manitoba and Saskatchewan, average bids for CPSR ranged from $149 in Manitoba, down $2 on the week, to C$152 per tonne in south Saskatchewan, down $4.
Soft white spring wheat (CWSWS) prices ranged from C$132 per tonne in Saskatchewan to $148 per tonne in central Alberta, relatively steady compared to the previous week. Average winter wheat prices ranged from $142 to $153 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, held reasonably steady at around C$262 per tonne at a selection of delivery points.
The December spring wheat contract in Minneapolis, off of which most CWRS contracts in Canada are based, was quoted Friday at US$6.2975 per bushel, down five 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 KC wheat contract lost one cent during the week, and was quoted at US$6.4275 per bushel on Friday.
The December Chicago Board of Trade soft wheat contract settled Friday at US$5.635, down seven cents from the previous week.
— Phil Franz-Warkentin writes for Commodity News Service Canada, a Winnipeg company specializing in grain and commodity market reporting.