Glacier FarmMedia | MarketsFarm — Spring wheat cash prices varied across the Prairies for the week ended Nov. 25, while those for durum were slightly higher.
Losses in the United States wheat complex weighed on prices north of the border, while support came from a weaker Canadian dollar.
Statistics Canada reported that producer deliveries of all wheat in October increased 7.2 per cent from a year ago at 3.68 million tonnes. StatCan will release its latest production estimates on Dec. 4.
Agriculture and Agri-Food Canada made some minor changes to its all wheat estimates in its November supply and demand report, including lowering 2025/26 ending stocks by 100,000 tonnes at 5.10 million.
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CWRS
Average CWRS (13.5%) prices were down C$2.30 to up C$1.20 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$252.50 per tonne in southeastern Saskatchewan to C$279.30 per tonne in southern Alberta.
Quoted basis levels varied from location to location and ranged from C$39.30 to C$66.10 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$0.7090), CWRS bids ranged from US$179.00 to US$198.00 per tonne. That would put the currency-adjusted basis levels at about US$15.10 to US$34.10 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$10.70 to C$24.20 below the futures.
CPRS & CWAD
Average CPRS (11.5%) wheat prices lost C$3.50 to C$5.00 per tonne. Bids ranged from C$224.50 per tonne in southeastern Saskatchewan to C$251.90 per tonne in southern Alberta.
Average CWAD prices inched up 30 to 80 cents per tonne. Bids ranged from C$278.30 per tonne in northwestern Saskatchewan to C$292.70 per tonne in western Manitoba.
U.S. wheat complex
The December spring wheat contract in Minneapolis, which most CWRS contracts Canada are based off of, was quoted at US$5.8000 per bushel on Nov. 25, dipping 2.75 cents
The Kansas City hard red winter wheat futures, which are now traded in Chicago, are more closely linked to CPRS in Canada. The December Kansas City wheat contract was quoted at US$5.2135 per bushel on Nov. 25, falling 13 cents from a week ago.
The December Chicago Board of Trade soft wheat contract settled at US$5.2725 per bushel Nov. 25, retreating 19.25 cents.
