CNS Canada –– Canada’s spring wheat basis has hit fresh highs to spur producer selling, but overall the market remains bearish. “It does seem kind of counterintuitive to see cash prices strengthening right during harvest,” said Brenda Tjaden Lepp, co-founder of FarmLink Marketing Solutions in Winnipeg. Over the past week, quoted basis levels for Canada […] Read more
Wheat basis levels improve, futures stay bearish
Look for improved basis this year
It’s a very different situation from two years ago — now grain companies are keen to ‘keep their pipelines moving’
Reading Time: 3 minutes A bad-news year for crop production is a good year when it comes to basis — and so farmers should be shopping around this harvest, say market analysts. “In general in years when supplies are tight locally or in a region, you would normally expect to see basis levels that are stronger than what you […] Read more
U.S. wheat futures seen stalling
CNS Canada –– U.S. wheat futures posted solid gains over the month of June but appear to be stalling out in the early days of July as the market looks for more fresh supportive news. “The bull needs to be fed every day, and right now it’s not getting anything to keep it going,” said […] Read more
Prairie wheat bids rise with improving basis
CNS Canada –– Cash bids for Canadian wheat were stronger during the week ended Friday, as basis levels improved. A firmer tone in U.S. wheat futures was also supportive. Average Canada Western Red Spring (CWRS) wheat prices were C$6-$12 per tonne higher, with bids ranging from about $204 per tonne in north-central Saskatchewan to $223 […] Read more
Falling Canadian dollar can affect wheat basis
Reading Time: < 1 minute Take into account the exchange rate when comparing basis, says a provincial market specialist. Since the ICE Canada futures is not actively traded, the grain trade uses the Minneapolis Hard Red Spring wheat futures for hedging Canadian hard red spring wheat, said Neil Blue. A recent elevator quote had hard red spring wheat basis at […] Read more
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