MarketsFarm — Growing drought concerns in the U.S. and improved export numbers led to higher bids for western Canadian wheat for the week ended Thursday. However, a mid-week selloff on the futures market held back some gains. The southern U.S. Plains, which are a growing area for hard red winter wheat, have been affected by […] Read more
Prairie cash wheat: Bids show small gains
Minneapolis, K.C. March wheats up on week
Prairie cash wheat: Bids mixed, watching futures and currency
U.S. wheat futures down on week
MarketsFarm — Wheat bids across Western Canada were mixed during the week ended Thursday, as losses in U.S. futures were countered by the supportive influence of a weaker Canadian dollar. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were up by $5.20-$10.10 per tonne, according to price quotes from a cross-section […] Read more
Prairie cash wheat: Red springs rising, durum retreats
U.S. wheat futures up on week
MarketsFarm — Cash bids on the Prairies climbed higher for Canada Western Red Spring Wheat (CWRS) and Canada Prairie Spring Red (CPSR) wheats, but those for Canada Western Amber Durum (CWAD) incurred sharp decreases. Gains in most U.S. wheat markets led to the increases on the Prairies, which were also aided by a weaker Canadian […] Read more
Prairie cash wheat: Falling Minneapolis futures weigh on Prairie bids
MarketsFarm — A sharp drop in Minneapolis spring wheat futures weighed on cash wheat bids across the Prairies during the week ended Thursday, but declines in the Canadian dollar provided some support and helped temper losses somewhat. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were down by $7.60-$11.60 per tonne, […] Read more
CBOT weekly outlook: Soybean purchases steal wheat’s thunder
MarketsFarm — While Chicago wheat is hitting new contract highs, soybeans are the standout commodity on the Chicago Board of Trade (CBOT), according to one trader. Over the weekend, there were rumblings that China had purchased five cargoes worth of soybeans earlier in the week. Three nights later, that number had grown, which caused soybean […] Read more
Brazil clears GMO wheat flour from Argentina in global first
Sales, however, may be slow
Sao Paulo/Buenos Aires | Reuters –– Brazil on Thursday became the first country to allow imports of flour made with genetically modified wheat, though shipments of the new variety developed in Argentina are unlikely anytime soon due to opposition from Brazilian millers and global consumers. The decision may spur a broader global discussion about genetically […] Read more
Prairie cash wheat: CWRS bids up with U.S. futures
However, a strong loonie applies pressure
MarketsFarm — Minneapolis spring wheat futures climbed to contract highs during the week ended Thursday, which provided spillover support for Canadian cash bids. However, strength in the Canadian dollar was a bearish influence, tempering the upside in the cash market. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were up by […] Read more
Prairie cash wheat: Bids rise with U.S. futures
MarketsFarm — Cash wheat bids across Western Canada moved higher during the week ended Thursday in sympathy with U.S. futures markets. The strength came despite a firmer tone in the Canadian dollar. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were up by $11.40-$14.90 per tonne, according to price quotes from […] Read more
Prairie cash wheat: Bids mixed as harvest comes to close
U.S. December wheat futures up on week
MarketsFarm — The spring wheat harvest coming to a close in the Prairie provinces and cuts in production estimates south of the border have caused mixed bids in Western Canada for the week ended Thursday. All three Prairie provinces have either completed or have nearly completed spring wheat combining, bringing harvest pressure to prices. Meanwhile, […] Read more
Prairie cash wheat: Gains in prices vary by type
MGEX, CBOT December wheats up on week
MarketsFarm — Bids in Western Canada for the week ended Thursday were higher for Canada Western Amber Durum (CWAD), Canada Western Red Spring (CWRS) and Canada Prairie Spring Red (CPSR) wheats. Gains in most of the U.S. wheat markets led to the increases, which were tempered somewhat by a stronger Canadian dollar. Average CWRS (13.5 […] Read more
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