Glacier FarmMedia – Western Canadian spring wheat bids were mixed, while durum wheat bids were down during the week ended Nov. 18.
The Canadian Grain Commission reported year-to-date wheat exports for 2025/26 reached 6.184 million tonnes compared to 5.483 million.
The United States Department of Agriculture projected 2025-26 wheat ending stocks at 901 million bushels in its November supply and demand report released on Nov. 14, up from 844 million in September and 851 million in 2024-25. World wheat ending stocks were estimated at 271.43 million tonnes, greater than the 264.06 million projected in September. Carryout in 2024-25 was 261.44 million.
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The USDA also reported cumulative inspections for 2025/26 were 12.36 million tonnes, compared to last year’s 10.36 million.
Canadian Western Red Spring (CWRS) wheat was down C$1.10 to up C$2.10 per tonne, according to price quotes from a cross-section of delivery points compiled by PDQ (Price and Data Quotes). Average prices were between C$253.70/tonne in southeast Saskatchewan to C$281.50 in southern Alberta.
Quoted basis levels ranged from between C$39.60 to C$67.40/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.
Accounting for exchange rates and adjusting Canadian prices to U.S. dollars (C$1=US$0.7144), CWRS bids were from US$181.20 to US$201.10/tonne. Currency adjusted basis levels ranged from US$13 to US$32.90 below the futures. If the futures were converted to Canadian dollars, basis levels would be C$9.30 to C$23.50 below the futures.
Meanwhile, Canadian Prairie Red Spring (CPRS) prices dipped C$0.40 to adding C$3.40 per tonne. The lowest average bid for CPRS was C$228.60 in southeast Saskatchewan, while the highest average bid was C$256.90 in southern Alberta.
The average prices for Canadian Western Amber Durum (CWAD) lost C$1.80 to C$4 per tonne with bids between C$278 in northwest Saskatchewan to C$292.40 in western Manitoba.
The December spring wheat contract in Minneapolis, which most CWRS contracts are based off of, was quoted at US$5.8275 per bushel on Nov. 18, up 13.25 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 contract gained 2.50 cents at US$5.2625/bu.
The December Chicago soft red contract rose 10.50 cents at US$5.4645/bu.
The Canadian dollar moved up 0.11 of a cent to close at 71.44 U.S. cents on Nov. 18.
