Glacier FarmMedia | MarketsFarm — Cash prices for spring wheat and durum across the Canadian Prairies incurred losses almost across the board during the week ended Aug. 28.
Pressure came from losses in Minneapolis spring wheat, while modest gains in Kansas City and Chicago wheat tempered further declines.
The Canadian dollar added nearly three-quarters of a cent, making the country’s wheat exports a little more expensive.
Statistics Canada issued its August crop production report on Aug. 28, pegging all wheat production for 2025/26 at 35.55 million tonnes, a dip of 1.1 per cent from the previous year. However, the projection is above the five-year average of 32.42 million tonnes.
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As the harvest in southern Alberta presses on, a broker said that is one of the factors pulling feed prices lower in the region. Darcy Haley, vice-president of Ag Value Brokers in Lethbridge, added that lower cattle numbers in feedlots, plentiful amounts of grass for cattle to graze and a lacklustre export market also weighed on feed prices.
CWRS
Average CWRS (13.5%) prices tacked on C$1.80 to giving up C$8.50 per tonne, according to price quotes from a cross-section of delivery points compiled by PDQ (Price and Data Quotes). Those prices ranged from about C$237.70 per tonne in southeastern Saskatchewan to C$261.70 per tonne in southern Alberta.
Quoted basis levels varied from location to location and ranged from C$33.70 to C$57.70 per tonne above the futures when using the grain company methodology of quoting the basis as the difference between the U.S. dollar-denominated futures and the Canadian dollar cash bids.
When accounting for currency exchange rates by adjusting Canadian prices to U.S. dollars (C$1=US$0.7270), CWRS bids ranged from US$172.80 to US$190.30 per tonne. That would put the currency-adjusted basis levels at about US$13.70 to US$31.20 below the futures.
Looking at it the other way around, if the Minneapolis futures are converted to Canadian dollars, CWRS basis levels across Western Canada ranged from C$10.00 to C$22.70 below the futures.
CPRS & CWAD
Average CPRS (11.5%) wheat lost C$4.93 to C$7.10 per tonne. Bids ranged from C$212.80 per tonne in southeastern Saskatchewan to C$236.00 per tonne in southern Alberta.
Average CWAD prices dropped C$19.30 to C$23.30 per tonne. Bids ranged from C$282.60 per tonne in northwestern Saskatchewan to C$301.70 per tonne in southern Alberta.
U.S. futures
The September spring wheat contract in Minneapolis, which most CWRS contracts Canada are based off of, was quoted at US$5.5525 per bushel on Aug. 28, falling 14 cents on the week.
The Kansas City hard red winter wheat futures, which are now traded in Chicago, are more closely linked to CPRS in Canada. The September Kansas City wheat contract was quoted at US$5.0775 per bushel on Aug. 28, adding 3.25 cents from a week ago.
The September Chicago Board of Trade soft wheat contract settled at US$5.1025 per bushel Aug. 28, bumping up 3.25 cents.
