CNS Canada — Cash wheat bids across Western Canada moved higher during the week ended Friday, as basis levels showed some improvement at most locations. Average Canada Western Red Spring (CWRS) wheat prices were up by C$7-$8 per tonne on average across the three Prairie provinces, according to price quotes from a cross-section of delivery […] Read more
Prairie wheat bids up as basis improves
Prairies see high-protein wheat crop, but few premiums
CNS Canada –– Every year is a different story for wheat crop quality and protein levels — but the saturation of high-protein wheat in the market may mean fewer premiums for Prairie growers this year. The premium price for high-protein wheat has eroded to the point where there’s a shift from grain companies in the […] Read more
Prairie cash wheat bids mixed
CNS Canada –– Canada Western Red Spring (CWRS) wheat cash bids across Western Canada were steady to slightly lower during the week ended Friday, while Canada Prairie Spring Red (CPSR) bids were mixed. Average CWRS wheat prices were steady to C$3 per tonne lower across the three Prairie provinces, according to price quotes from a cross-section […] Read more
‘Nothing bullish’ in wheat futures
CNS Canada — U.S. wheat futures have moved steadily lower since the beginning of July, and appear poised for more losses as there is little supportive news in the market. “There’s just nothing bullish in the wheat market at the moment,” said Adam Knosalla of Frontier Futures in Minneapolis. He added that “down is the […] Read more
Wheat near done flowering, prices could also bloom
CNS Canada –– Weather-related issues ranging from floods to drought have been putting wheat crops at risk globally, bringing potential for prices to move higher. Traders are watching to see how the crop in Canada will shape up, given recent dryness in the West, according to Jonathon Driedger, senior market analyst at FarmLink Marketing Solutions. […] Read more
Canada may have already passed peak gluten-free
CNS Canada –– Increased demand by Canadians for gluten-free products had an impact on the wheat industry, leading reduced sales and experiments with new ways to feed the market. Now, industry specialists have mixed opinions on the future of gluten-free. Almost a third of Canadians, 10 million people, are seeking out gluten-free products, according to […] Read more
New Russian wheat tax puts exporters, traders on edge
Moscow | Reuters –– Russia approved the launch of a new wheat export tax from July 1, which traders say could threaten profits on advance contracts for the new crop if the rouble weakens in coming months. Russia’s government said Friday that the new tax was intended to stop exports surging if the rouble drops […] Read more
Wheat bids edge lower across Prairies
CNS Canada — Cash bids for Canadian wheat were down during the week ended Friday, as values reacted to adjustments in the U.S. futures and the foreign exchange markets. Average Canada Western Red Spring (CWRS) wheat prices were down by C$3 to $5 per tonne, with bids ranging from $181 per tonne in north-central Saskatchewan […] 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
‘Extreme’ volatility expected in wheat markets this spring
Winnipeg | CNS Canada — Canadian and U.S. wheat markets are likely going to experience some “extreme” volatility this spring, Lawrence Yakielashek of FarmLink Marketing Solutions told the Wild Oats Grainworld Conference. “The spring months are when the firecrackers are going to start to hit the match,” he added. He predicted there would be a […] Read more
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