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
Prairie cash wheat bids mixed
‘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
Prairie wheat bids up sharply with weather worries
CNS Canada — Cash bids for Prairie wheat were up sharply during the week ended Friday, as weather worries in North America resulted in improved basis levels and pushed U.S. futures sharply higher. Parts of Western Canada are too dry, harming production, while excess moisture in the U.S. is increasing disease pressure and slowing the […] 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
Russian ag ministry proposes new wheat export duty formula
Donskoy | Reuters –– Russia’s agriculture ministry said on Tuesday it had finalized the methodology for the calculation of a wheat export duty that will be introduced from July 1. It has proposed exporters pay a duty of one rouble per tonne on wheat priced up to 11,000 roubles (C$268) per tonne on a free-on-board […] Read more
Russian wheat prices follow global benchmarks higher
Tikhoretsk | Reuters — Russian wheat export prices rose last week following an increase in global benchmarks and concerns over dry and hot weather in the European part of Russia, analysts said. Russia, one of the world’s big wheat exporters, competes with other global suppliers, including France, where Western European wheat prices hit the highest […] Read more
Prairie feed wheat relatively strong against milling wheat
CNS Canada –– Relative strength in the feed wheat market in Western Canada compared to milling wheat is making feed channels a more attractive option for some growers with lower-end milling wheat left to sell. “Right now, feed is pretty well on par with a lot of the base milling-grade wheats,” said Jared Seitz, trade […] Read more
Russia lifts wheat export duty, exports seen rising
Moscow | Reuters — Russia lifted its duty on wheat exports on Friday to help domestic producers and the government said the move would boost overseas sales by one million tonnes. One of the world’s major wheat exporters, Russia initially imposed the tax from Feb. 1 until June 30 to dampen rising domestic prices and […] Read more
Russian wheat price may rise when tax removed
Moscow | Reuters — Russian wheat prices may rise in coming weeks when the government removes an export tax, set earlier this year to cool food inflation, SovEcon agriculture analysts said Thursday. Russia will take a decision by mid-May on removing the tax ahead of schedule and will set up a new mechanism in case […] Read more
What’s on your mind? Question #1 from Alberta Farmer readers
Carry-out and wheat prices
Reading Time: 2 minutes EDITOR’S NOTE: We asked a sampling of producers what was on their mind as they were headed into the growing season, and then reporters Alexis Kienlen and Jennifer Blair went looking for answers. Bin buster Bentley-area grain producer Jason Lenz asks, “How will the large carry-over affect new-crop wheat prices?” It’s the world market that sets […] Read more
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