The reported frontrunner to buy Canada Bread is now officially the Canadian bakery firm’s buyer of choice. Mexico’s Grupo Bimbo on Wednesday announced a cash deal to buy all shares of Canada Bread Co. for $72 per share, or about $1.83 billion, accruing mainly to Canada Bread’s 90 per cent owner, meat processor Maple Leaf […] Read more
Mexican bakery giant to buy Canada Bread
Prairie wheat bids climb alongside U.S. futures
CNS Canada –– Western Canadian cash bids for Canada Prairie spring red (CPSR) and Canada Western red spring (CWRS) wheat moved higher, following the sharply stronger U.S. wheat futures markets during the week ending Monday. Average spot bids for CWRS (13.5 per cent protein) across Manitoba, Saskatchewan and Alberta came in at around $168 per […] Read more
Japan ramps up U.S., June Canada wheat buys to offset delays
Tokyo | Reuters — Japan ramped up its purchases of U.S. grains and June-arrival Canadian wheat used for making bread and noodles, in a tender awarded on Thursday, in a move to offset the possibility of extended shipping delays from Canada. Canada’s record canola and wheat harvests have clogged its rail arteries and overwhelmed its […] Read more
U.S. wheat futures correct higher
CNS Canada — All three U.S. wheat futures markets are finally seeing a corrective bounce, after declining steadily since October. While how much higher wheat futures can move remains to be seen, the sharp gains this week could be seen as a sign that the downtrend is over for the time being. “We’re finally coming […] Read more
CPSR wheat bids weaken amid widening basis levels
CNS Canada — Western Canadian cash bids for Canada Prairie Spring Red (CPRSR) wheat moved lower amid widening basis levels during the week ended Monday. Canada Western Red Spring (CWRS) bids, meanwhile, were holding steady. Prices for both varieties failed to follow the U.S. futures markets higher due to continued slow movement of the crop […] Read more
U.S. grains: Soy jumps most in two weeks on tightening supplies
Corn gains second consecutive month, wheat down fourth month in row Chicago | Reuters — U.S. soybeans surged into the close of trading on Friday, finishing just below their session high and climbing for the second straight day on good demand for U.S. supplies in the early days of a bumper harvest in South America, […] Read more
Mixed price action seen in Prairie wheat markets
CNS Canada — Western Canadian wheat cash bids were mixed during the week ending Monday. Canada Western Red Spring (CWRS) bids were down slightly, while Canada Prairie Spring Red (CPSR) held steady and durum prices were slightly higher. Average spot bids for CWRS at 13.5 per cent protein across Manitoba, Saskatchewan and Alberta came in […] Read more
Prairie wheat bids holding steady
Western Canadian wheat cash bids and basis levels were holding steady along with the U.S. futures markets during the week ending Monday. Average spot bids for Canada Western Red Spring (CWRS) at 13.5 per cent protein across Manitoba, Saskatchewan and Alberta came in at around $160 per tonne ($4.36 per bushel) based on pricing available […] Read more
World Wheat News: U.S. futures close higher
Commodity News Service Canada / Minneapolis, Kansas City and Chicago wheat futures all closed higher on Thursday, underpinned by ideas that the markets are oversold, industry watchers said. A smaller-than-expected U.S. winter wheat planted area was bullish, as was strong export demand for the U.S. product, brokers said. Reports that Egypt purchased U.S. wheat earlier […] Read more
Competition in Lethbridge’s feed market drives prices lower
Competition for Lethbridge’s marketplace is heating up, as feed wheat and barley are nearly priced identically, leading to further declines in both markets. “It seems like they are both trading in the mid-C$150 (per tonne) range,” said Allen Pirness, senior trader at MarketPlace Commodities in Lethbridge. According to the Alberta Canola Producers Commission, feed barley […] Read more
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