Producers across Western Canada will soon have a new tool to help them make decisions on when to sell and get the best value for their grain. A website from the Alberta Wheat Commission called pdqinfo.ca is currently in test mode and will be rolling out new features over the coming year.
The site — which stands for ‘price and data quotes’ — currently offers benchmark prices for three wheat classes (Canada Western Red Spring, Canada Western Amber durum, and Canada Prairie Spring Red) and canola. It presently covers eight zones: three in Alberta, four in Saskatchewan, and one in Manitoba.
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Just one part of a price information project supported by $740,000 in federal funding, PDQ Info is intended to offer producers and other grain industry stakeholders more timely and detailed market data than what is currently available.
More information reflecting a greater number of crops and zones throughout Canada will be added over the next six to 12 months, said John De Pape of Farmers Advanced Risk Management, the grain-marketing consulting firm leading the project. The goal is to provide key market info for farmers, analysts, government agencies and crop insurance firms, he said.
“There is a level of information we can provide in terms of deferred prices, trends in prices, and separating futures and basis,” he said. “We will be focusing on basis a lot, what it is in different regions and how the basis is changing. There’s a lot of information you need to market properly and we’re just trying to make that easier for everybody.”
The market data for the site is provided by grain buyers licensed with the Canadian Grain Commission and averaged by region before posting. The site does not present the proprietary information of individual grain buyers, said De Pape.
“If you as a farmer want to know what your local elevator is paying you will have to go to their website or call them. We don’t want to interfere with that interaction.”