Upwardly revised estimates of U.S. wheat acres, record-high exports from producers overseas and a strong loonie have combined to cut down the Canadian Wheat Board’s 2009-10 pool return outlooks (PROs) for wheat by $12 to $17 per tonne.
Among the July PROs released July 23, lower international durum values pressured the new-crop durum outlook downward by $14 to $18 per tonne, while malting barley PROs slipped $6 per tonne. Pool A feed barley remained flat at $158 per tonne.
The CWB has also released its July PRO for 2008-09, showing wheat values down $2 per tonne from the previous PRO in May; milling durum values up $2 per tonne; malting barley values down $3 per tonne; and Pool B feed barley unchanged at $163 per tonne.
Read Also
Low yield allowance adjusted to support farmers in Alberta
Alberta farmers can move more quickly to salvage poor crops for feed, after the federal and provincial governments announced increases to AFSC’s low yield allowances for the 2025 crop year.
Impacts from lower wheat futures and the stronger loonie are limited in the 2008-09 wheat PROs, as a “large percentage” of the board’s 2008-09 wheat pool has already been priced. The 2008-09 durum pool is now also “largely sold,” and the 2008-09 malting barley pool can expect “minimal” impact from future price changes for the same reason, the board said.
