CNS Canada — Cash bids for Canadian wheat were mostly firmer during the week ended Friday. Strengthening U.S. futures were supportive, though basis levels widened in many regions. Prices are as of April 2, due to market closures on Good Friday. Average Canada Western Red Spring (CWRS) wheat prices were down 50 cents to up […] Read more
Prairie wheat bids firm amid widening basis levels
Russia may extend tax on wheat exports, deputy PM says
Moscow | Reuters — Russia may extend a tax on wheat exports beyond July 1, but is yet to make a final decision, Russian news agencies cited Deputy Prime Minister Arkady Dvorkovich, who is in charge of the sector, as saying on Friday. Russia has imposed the duty on wheat exports since Feb. 1 in […] Read more
U.S. CFTC sues Kraft, Mondelez over alleged wheat price manipulation
Reuters — The U.S. Commodity Futures Trading Commission on Wednesday charged Kraft Foods Group and Mondelez International with manipulation of prices of wheat used in products such as Oreo and Chips Ahoy cookies. The regulator alleged that Kraft and Mondelez bought $90 million of wheat futures, or a six-month supply, but never intended to take […] Read more
Prairie wheat bids weaken slightly, basis improves
CNS Canada –– Wheat cash bids across Western Canada moved slightly lower in most classes during the week ended Friday, amid softness in U.S. futures and improving basis levels. Average Canada Western Red Spring (CWRS) wheat prices were steady to down about $4 per tonne, with bids ranging from $207 per tonne in north-central Saskatchewan […] Read more
Russia seen removing wheat tax in July if inflation slows
Moscow | Reuters — Russia, one of the world’s leading wheat exporters, will probably not extend a tax on wheat exports, imposed until June 30, if optimism over lower inflation and a large crop persists among officials, SovEcon consultancy said. Russia’s economy has been hit hard by low global oil prices and Western sanctions due […] Read more
Do the math on bins versus baggers
Bin prices have jumped sharply in the past decade, but producers need to carefully evaluate the pros and cons of grain bags
Reading Time: 2 minutes Recent record yields and transportation backlogs have increased interest in on-farm storage options. “There are many different storage options available, either temporary or permanent,” said Todd Bergen-Henengouwen, project assistant with Alberta Agriculture and Rural Development. “The two most popular options are steel grain bins (either corrugated or smooth walled with or without hoppers) and grain […] Read more
Durum prices fall as new crop right around corner
CNS Canada — Durum prices in Western Canada are under pressure as other countries’ new durum crops are just around the corner and end-users are well covered. “We have new-crop French and Spanish durum coming on here in a couple months, and the Mexican crop as well,” said Jerry Klassen, manager for Swiss-based GAP SA […] Read more
Falling Canadian dollar can affect wheat basis
Reading Time: < 1 minute Take into account the exchange rate when comparing basis, says a provincial market specialist. Since the ICE Canada futures is not actively traded, the grain trade uses the Minneapolis Hard Red Spring wheat futures for hedging Canadian hard red spring wheat, said Neil Blue. A recent elevator quote had hard red spring wheat basis at […] Read more
CWB sees global grain crops falling back from records
Geneva | Reuters — The world’s wheat crop will shed three per cent this year to 703.4 million tonnes from last year’s record, but it will still remain above the five-year average, grain marketing company CWB estimated on Wednesday. The global 2015 corn crop should fall 1.6 per cent from a record last year to […] Read more
Oats market cold in Western Canada
CNS Canada –– The oats market in Western Canada has gone cold, with little heat expected until closer to spring seeding. “The basis is the thermometer, and right now oats are getting cold,” said Ryan McKnight of Linear Grain at Carman, Man., noting basis levels were generally fading. “We’re just not seeing much demand for […] Read more
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