Average Canada Western Red Spring (13.5%) wheat prices were down by C$2.30 to C$4.80 per tonne, according to price quotes from a cross-section of delivery points compiled by PDQ (Price and Data Quotes). Average prices ranged from C$277.70 per tonne in southeastern Saskatchewan to as high as C$306.10 per tonne in southern Alberta.

Quoted basis levels varied from location to location and ranged from $56.20 to $84.50 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 everything into Canadian dollars (C$1=US$0.7048) CWRS basis levels ranged from C$4.10 to C$18.20 below the futures.

Canada Prairie Spring Red (CPSR) wheat bids were also higher, up by C$7.10 to C$8.00 per tonne, with prices ranging from C$254.80 to C$281.80 per tonne.

Average durum prices were mixed, up C$1.10 to down C$1.90 per tonne, ranging from C$312.40 to C$333.90 per tonne.

Spring wheat futures in Minneapolis were up by four cents per bushel in the March contract to settle at US$6.0250 per bushel on Dec. 12.

The Kansas City hard red winter wheat futures, which are now traded in Chicago, are more closely linked to CPSR in Canada. The March Kansas City wheat contract was up by 10.25 cents at US$5.6275 per bushel on Dec. 12.

The March Chicago Board of Trade soft wheat contract held closer to unchanged, rising only a quarter cent on the week at US$5.5850 per bushel.

The Canadian dollar was down by just over three quarters of a cent relative to its United States counterpart, at 70.48 U.S. cents on Dec. 12.

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Average Canada Western Red Spring (13.5%) wheat prices were down by C$8.30 per tonne in southern Alberta but edged up by 90 cents per tonne in western Manitoba, according to price quotes from a cross-section of delivery points compiled by PDQ (Price and Data Quotes). Average prices ranged from C$270.70 per tonne in southeastern Saskatchewan to as high as C$292.80 per tonne in southern Alberta.

Quoted basis levels varied from location to location and ranged from $43.60 to $65.70 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 everything into Canadian dollars (C$1=US$0.7223) CWRS basis levels ranged from C$11.30 to C$22.80 below the futures.

Canada Prairie Spring Red (CPSR) wheat bids were also mixed, ranging from losses of C$1.60 to gains of C$0.50 per tonne, with prices ranging from C$249.30 to C$275.50 per tonne.

Average durum prices were up by C$5.90 to C$10.20 per tonne, ranging from C$323.10 to C$340.80 per tonne.

Spring wheat futures in Minneapolis were down by 10.75 cents per bushel in the December contract to settle at US$6.18 per bushel on Oct. 24.

The Kansas City hard red winter wheat futures, which are now traded in Chicago, are more closely linked to CPSR in Canada. The December Kansas City wheat contract was down by nine cents at US$5.87 per bushel on Oct. 24.

The December Chicago Board of Trade soft wheat contract settled at US$5.8150 per bushel on Oct. 24, down eight cents on the week.

The Canadian dollar was down by just over a quarter of a cent relative to its United States counterpart, at 72.23 U.S. cents on Oct. 24.

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Average Canada Western Red Spring (13.5%) wheat prices were down by C$6.40 to C$8.70 per tonne across the Prairies, according to price quotes from a cross-section of delivery points compiled by PDQ (Price and Data Quotes). Average prices ranged from C$272.70 per tonne in southeastern Saskatchewan to as high as C$301.00 per tonne in southern Alberta.

Quoted basis levels varied from location to location and ranged from $41.70 to $70.00 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 everything into Canadian dollars (C$1=US$0.7252) CWRS basis levels ranged from C$9.20 to C$24.10 below the futures.

Canada Prairie Spring Red (CPSR) wheat bids were down by C$1.10 to C$4.70 per tonne, with prices ranging from C$248.80 to C$277.10 per tonne.

Average durum prices were up by C$0.50 to C$2.30 per tonne, ranging from C$312.90 to C$332.70 per tonne.

Spring wheat futures in Minneapolis were down by 21.50 cents per bushel in the December contract to settle at US$6.2875 per bushel on Oct. 17.

The Kansas City hard red winter wheat futures, which are now traded in Chicago, are more closely linked to CPSR in Canada. The December Kansas City wheat contract was down by 15 cents at US$5.96 per bushel on Oct. 17.

The December Chicago Board of Trade soft wheat contract settled at US$5.8950 per bushel on Oct. 17, down 14.25 cents on the week.

The Canadian dollar was down by a fifth of a cent relative to its United States counterpart, at 72.52 U.S. cents on Oct. 17.

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Average Canada Western Red Spring (13.5%) wheat prices were up by C$5.50 to C$8.70 per tonne across the Prairies, according to price quotes from a cross-section of delivery points compiled by PDQ (Price and Data Quotes). Average prices ranged from C$281.00 per tonne in southeastern Saskatchewan to as high as C$307.40 per tonne in southern Alberta.

Quoted basis levels varied from location to location and ranged from $42.10 to $68.50 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 everything into Canadian dollars (C$1=US$0.7271) CWRS basis levels ranged from C$11.20 to C$25.20 below the futures.

Canada Prairie Spring Red (CPSR) wheat bids were up by C$3.90 to C$6.50 per tonne, with prices ranging from C$253.20 to C$278.20 per tonne.

Average durum prices were up by C$9.60 to C$14.10 per tonne, ranging from C$310.70 to C$330.70 per tonne.

Spring wheat futures in Minneapolis were up by four cents per bushel in the December contract to settle at US$6.5025 per bushel on Oct. 10.

The Kansas City hard red winter wheat futures, which are now traded in Chicago, are more closely linked to CPSR in Canada. The December Kansas City wheat contract was down by 0.50 cents at US$6.11 per bushel on Oct. 10.

The December Chicago Board of Trade soft wheat contract settled at US$6.0375 per bushel on Oct. 10, up 0.25 cents on the week.

The Canadian dollar was down by just over a cent relative to its United States counterpart, at 72.71 U.S. cents on Oct. 10.

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Minneapolis and Kansas City wheat futures pulled back during the week, but Chicago nudged up a little. Ongoing issues with lacklustre U.S. export sales hampered the wheat complex, as did positioning ahead of the U.S. Thanksgiving holiday. A somewhat stronger Canadian dollar put a little bit of pressure on Prairie cash prices.

Average CWRS (13.5 per cent protein) prices dropped $4.10-$7.10 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 $323.60 per tonne in northeastern Saskatchewan to $349 per tonne in southern Alberta.

Quoted basis levels varied from location to location and ranged from $56.10 to $81.50 per tonne above the futures when using the grain company methodology of quoting the basis as the difference between U.S. dollar-denominated futures and Canadian dollar cash bids.

When accounting for currency exchange rates by adjusting Canadian prices to United States dollars, CWRS bids ranged from US$236.20 to US$254.80 per tonne. That would put the currency-adjusted basis levels at about US$12.80-$31.30 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 $9.30 to $22.90 below the futures.

Average CPSR (11.5 per cent protein) wheat lost $5.70-$10.70 per tonne. Bids ranged from $271.10 per tonne in southeastern Saskatchewan to $287.20 per tonne in southern Alberta.

Average CWAD prices were down by lesser amounts, dipping by between 20 cents and $1.80 per tonne. Bids ranged from $459.80 per tonne in northeastern Saskatchewan to $468.30 per tonne in western Manitoba.

The December spring wheat contract in Minneapolis, off of which most CWRS contracts in Canada are based was quoted at US$7.175 per bushel on Nov. 23, giving up 8.5 U.S. cents on the week.

Kansas City hard red winter wheat futures, traded in Chicago, are more closely linked to CPSR in Canada. The December K.C. wheat contract was quoted at US$6.145 per bushel on Nov. 23, dropping 12.75 U.S. cents compared to a week earlier.

The December Chicago Board of Trade soft wheat contract settled at US$5.655 per bushel on Nov. 23, nudging up 2.25 U.S. cents on the week.

The Canadian dollar closed Nov. 23 at 73 U.S. cents, tacking on a little more than a quarter of a cent.

— Glen Hallick reports for MarketsFarm from Winnipeg.

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U.S. wheat futures were lower as export sales continued to be weak. For the week of Nov. 3-9, 176,300 tonnes were sold for export, down 50 per cent from the previous week and 57 per cent from the four-week average. The International Grains Council added 1.7 million tonnes to its 2023-24 global wheat production estimate, to 786.6 million, while 1.8 million were added to its carryout projection at 264 million.

Canada Western Red Spring (CWRS) wheat prices were down $2.50-$4.60 per tonne, according to price quotes from a cross-section of delivery points compiled by PDQ (Price and Data Quotes). Average prices were between $329.70/tonne in southeastern Saskatchewan and $356 in southern Alberta.

Quoted basis levels ranged between $57.60 and $84/tonne above the futures when using the grain company methodology of quoting the basis as the difference between U.S. dollar-denominated futures and Canadian dollar cash bids.

Accounting for exchange rates and adjusting Canadian prices to U.S. dollars, CWRS bids were from US$239.80 to US$259/tonne. Currency-adjusted basis levels ranged from US$13.10 to US$32.30 below the futures. If the futures were converted to Canadian dollars, basis levels would be $9.60-$23.50 below the futures.

Meanwhile, CPSR prices were down $7.80-$10.30/tonne. The lowest average bid for CPSR was $276.80/tonne in southeastern Saskatchewan, while the highest average bid was $295.80 in southern Alberta.

The average prices for Canada Western Amber Durum (CWAD) were 30 cents to $4.10 per tonne lower with bids between $460.10 in northeastern Saskatchewan and $468.70 in western Manitoba.

The December spring wheat contract in Minneapolis, off of which most CWRS contracts are based, was quoted at US$7.26 per bushel on Thursday and 8.5 U.S. cents lower than the previous week.

Kansas City hard red winter wheat futures, traded in Chicago, are more closely linked to CPSR in Canada. The December K.C. wheat contract was quoted at US$6.2725/bu., down 20 U.S. cents.

The December Chicago Board of Trade (CBOT) wheat contract lost 27.25 U.S. cents from the previous week at US$5.535/bu.

The Canadian dollar was slightly stronger, gaining 0.17 of a U.S. cent to close Thursday at 72.73 cents U.S.

— Adam Peleshaty reports for MarketsFarm from Stonewall, Man.

The post Prairie cash wheat: Bids ease off appeared first on Alberta Farmer Express.

Average Canada Western Red Spring (CWRS, 13.5 per cent) wheat prices were up by $8.80-$10.10 per tonne across the Prairies, according to price quotes from a cross-section of delivery points compiled by PDQ (Price and Data Quotes). Average prices ranged from $333.50 per tonne in northeastern Saskatchewan to as high as $358.80 per tonne in southern Alberta.

Quoted basis levels varied from location to location and ranged from $63.60 to $88.90 per tonne above the futures when using the grain company methodology of quoting the basis as the difference between U.S. dollar-denominated futures and Canadian dollar cash bids.

When accounting for currency exchange rates by adjusting everything into Canadian dollars, CWRS basis levels ranged from $6.90 to $20.20 below the futures.

Canada Prairie Spring Red (CPSR) wheat bids were up by $2-$8 per tonne, with prices ranging from $284.60 to $305.10 per tonne.

Average durum prices were up by between 10 cents and $1.60 per tonne. Prices ranged from $463.60 to $471.60 per tonne.

Spring wheat futures in Minneapolis were up by 23.75 U.S. cents per bushel in the December contract to settle Thursday at US$7.345 per bushel.

Kansas City hard red winter wheat futures, traded in Chicago, are more closely linked to CPSR in Canada. The December K.C. wheat contract was up by 5.75 U.S. cents on the week to close at US$6.4725 per bushel on Thursday.

The December Chicago Board of Trade soft wheat contract settled at US$5.8075 per bushel on Thursday, up by 15.25 U.S. cents on the week.

The Canadian dollar strengthened relative to its U.S. counterpart early in the week before running into resistance to retreat and end relatively unchanged, finishing at 72.56 U.S. cents on Thursday, a move of only 0.02 U.S. cent.

— Phil Franz-Warkentin is an associate editor/analyst with MarketsFarm in Winnipeg.

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The U.S. wheat complex lost ground during the week, due in part to lacklustre export sales. However, those price declines, coupled with a weaker U.S. dollar, should make its wheat more competitive on the global market.

Average CWRS (13.5 per cent protein) prices dropped $4.80-$6.60 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 $323.90 per tonne in northeastern Saskatchewan to C$349.80 per tonne in southern Alberta.

Quoted basis levels varied from location to location and ranged from $62.80 to $88.60 per tonne above the futures when using the grain company methodology of quoting the basis as the difference between U.S. dollar-denominated futures and Canadian dollar cash bids.

When accounting for currency exchange rates by adjusting Canadian prices to U.S. dollars, CWRS bids ranged from US$235.10 to US$253.90 per tonne. That would put the currency-adjusted basis levels at about US$7.30 to US$26 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 $5.30 to $18.90 below the futures.

Average CPSR (11.5 per cent protein) wheat lost $1.40-$6.10 per tonne. Bids ranged from $276.70 per tonne in southeastern Saskatchewan to $301.70 per tonne in southern Alberta.

Average CWAD prices were steady to lower, losing as much as $8.30 per tonne in southern Alberta. Bids ranged from $463.30 per tonne in northeastern Saskatchewan to $471.10 per tonne in western Manitoba.

The December spring wheat contract in Minneapolis, off of which most CWRS contracts in Canada are based, was quoted at US$7.1075 per bushel on Nov. 2, falling 13.5 U.S. cents on the week.

Kansas City hard red winter wheat futures, traded in Chicago, are more closely linked to CPSR in Canada. The December K.C. wheat contract was quoted at US$6.415 per bushel on Nov. 2, pulling back 13.25 U.S. cents compared to a week ago.

The December Chicago Board of Trade soft wheat contract settled at US$5.655 per bushel on Nov. 2, sinking 14 U.S. cents from the previous week.

Although the Canadian dollar finished on a higher note, it spent the better part of the week giving up ground. Only when the U.S. dollar reversed course, to tumble back, did the loonie find positive traction. It closed with a quarter-cent increase at 72.58 U.S. cents.

— Glen Hallick reports for MarketsFarm from Winnipeg.

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U.S. wheat futures were pressured throughout the week as rains fell on winter wheat-growing areas in the country, as well as in Argentina, Ukraine and Australia. Export sales for U.S. wheat were lower than in the previous week and near the low end of trade expectations. However, there are unconfirmed reports that Ukraine has suspended its use of the Black Sea grain shipping corridor due to dangers brought on by increased aviation activity by the Russian military.

Canada Western Red Spring (CWRS) wheat prices were down $1.30-$4.90 per tonne, according to price quotes from a cross-section of delivery points compiled by PDQ (Price and Data Quotes). Average prices were between $329.10/tonne in southeastern Saskatchewan and $354.60 in southern Alberta.

Quoted basis levels ranged from between $63 and $88.40/tonne above the futures when using the grain company methodology of quoting the basis as the difference between U.S. dollar-denominated futures and Canadian dollar cash bids.

Accounting for exchange rates and adjusting Canadian prices to U.S. dollars, CWRS bids were from US$238 to US$256.50/tonne. Currency-adjusted basis levels ranged from US$9.70 to US$28.10 below the futures. If the futures were converted to Canadian dollars, basis levels would be $7-$20.30 below the futures.

Meanwhile, Canada Prairie Spring Red (CPSR) prices were down $5.50-$8.40/tonne. The lowest average bid for CPSR was $279.70/tonne in southeastern Saskatchewan, while the highest average bid was $307.80 in southern Alberta.

The average prices for Canada Western Amber Durum (CWAD) were $9.30-$13 per tonne lower, with bids between $463.30 in northeastern Saskatchewan and $477.60 in southern Alberta.

The December spring wheat contract in Minneapolis, off of which most CWRS contracts are based, was quoted at US$7.2425 per bushel on Oct. 26, 14.75 U.S. cents lower than the previous week.

Kansas City hard red winter wheat futures, traded in Chicago, are more closely linked to CPSR in Canada. The December K.C. wheat contract was quoted at US$6.5475/bu., down 21.5 U.S. cents.

The December Chicago Board of Trade (CBOT) wheat contract lost 14.5 U.S. cents from the previous week, closing Oct. 26 at US$5.795/bu.

The Canadian dollar was weaker, losing 0.58 of a U.S. cent to close at 72.33 U.S. cents on Oct. 26.

— Adam Peleshaty reports for MarketsFarm from Stonewall, Man.

The post Prairie cash wheat: Bids book week of losses appeared first on Alberta Farmer Express.

Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were up by $5-$10.20 per tonne across the Prairies, according to price quotes from a cross-section of delivery points compiled by PDQ (Price and Data Quotes). Average prices ranged from $331.90 per tonne in northeastern Saskatchewan to as high as $358.20 per tonne in southern Alberta.

Quoted basis levels varied from location to location and ranged from $60.40 to $86.60 per tonne above the futures when using the grain company methodology of quoting the basis as the difference between U.S. dollar-denominated futures and Canadian dollar cash bids.

When accounting for currency exchange rates by adjusting everything into Canadian dollars, CWRS basis levels ranged from $7.60 to $21.50 below the futures.

Canada Prairie Spring Red (CPSR) wheat bids were up by $1.80-$3 per tonne, with prices ranging from $287.20 to $313.30 per tonne.

Average durum prices were down by $9.70-$18.30 per tonne. Prices ranged from $476.30 to $486.90 per tonne.

Spring wheat futures in Minneapolis were up by 15.5 U.S. cents per bushel in the December contract to settle at US$7.39 per bushel on Thursday.

Kansas City hard red winter wheat futures, traded in Chicago, are more closely linked to CPSR in Canada. The December K.C. wheat contract was up by 1.25 U.S. cents on the week to close Thursday at US$6.7625 per bushel.

The December Chicago Board of Trade soft wheat contract settled at US$5.94 per bushel on Thursday, up by 22.5 U.S. cents on the week.

The Canadian dollar was down by roughly a third of a cent relative to its U.S. counterpart, finishing Thursday at 72.91 U.S. cents.

— Phil Franz-Warkentin is an associate editor/analyst with MarketsFarm in Winnipeg.

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