Reading Time: < 1 minute Reuters — Global chemicals and crop seeds company BASF is halting development of hybrid wheat in North America after results of seed trials failed to reach development goals, the company told Reuters on Wednesday. BASF will instead focus development of the new type of wheat in European markets, aiming to launch the technology there “toward […] Read more
BASF halting hybrid wheat seed development in North America
Results 'have not achieved development goals we set'
Prairie cash wheat: Durum rises, red spring falls back
U.S. wheat futures down on week
Reading Time: 2 minutes MarketsFarm — Wheat prices on the Canadian Prairies saw the red spring varieties take a hit during the week ended Thursday, while durum made gains. There were sharp declines in the U.S. wheat complex, which weighed on Canadian cash prices while a weaker dollar helped to stymie further losses. Despite the one-year anniversary of the […] Read more
Prairie cash wheat: Little change in wheat bids
U.S. wheat futures up on week
Reading Time: 2 minutes MarketsFarm — Despite bullish factors affecting wheat futures on the Chicago Board of Trade (CBOT), western Canadian wheat bids did not see much change during the week ended Thursday. Futures prices for all three major U.S. varieties increased week-by-week, mostly fuelled by large gains on Feb. 10, as traders shifted focus to Russia’s invasion of […] Read more
Feed weekly outlook: Grain stocks set tone for barley, wheat
Barley expected to go bullish in April, May
Reading Time: 2 minutes MarketsFarm — Statistics Canada’s (StatCan) grain stocks report issued earlier this week largely met trade expectations, according to Winnipeg-based independent trader Jerry Klassen. The survey-based report, which estimated the country’s grain stocks as of Dec. 31, was neutral for spring wheat, supportive of durum, and pointed toward barley being somewhat bullish come spring, he said. […] Read more
Prairie cash wheat: Spring wheat bids edge higher
U.S. wheat futures supportive; durum bids down
Reading Time: 2 minutes MarketsFarm — Spring wheat bids in Western Canada were mostly higher during the week ended Thursday, underpinned by gains in U.S. wheat futures. However, durum bids lost some ground. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were up by between 10 cents and $5.80 per tonne across the Prairies, according […] Read more
Prairie cash wheat: Bids mixed as U.S. futures rise
Rising Canadian dollar adds pressure
Reading Time: 2 minutes MarketsFarm — Canada Western Red Spring and Canada Western Amber Durum wheat prices declined while bids for Canada Prairie Spring Red rose during the week ended Jan. 26. Wheat futures in the U.S. fell Monday, with the March contracts on the Chicago Board of Trade (CBOT) dropping 21 to 29 U.S. cents due to spillover […] Read more
USDA sees little change in Australian, Canadian wheat output
Reading Time: 2 minutes MarketsFarm — There isn’t much in the way of significant changes in the U.S. Department of Agriculture’s (USDA) attaché reports on grain production in Australia and Canada. USDA’s Global Agricultural Information Network (GAIN) office in Canberra pegged Australia’s wheat production for 2022-23 at 37 million tonnes, 400,000 more than the official USDA estimate. In comparison, […] Read more
Prairie cash wheat: Prices step back
U.S. wheat futures down on week
Reading Time: 2 minutes MarketsFarm — Wheat prices declined on the Canadian Prairies during the week ended Thursday, as a stronger Canadian dollar and losses in the U.S. wheat complex weighed on values. Pressure came from expanded all-wheat acres to be planted in the United States, 48.84 million expected in 2023 versus the 45.7 million planted in 2022. The […] Read more
Prairie cash wheat: Bids dip as loonie soars
Chicago, K.C. wheats down on week
Reading Time: 2 minutes MarketsFarm — Spring wheat bids in Western Canada moved lower during the week ended Thursday as a sharp gain in the Canadian dollar relative to its U.S. counterpart cut into basis levels. The currency was up by roughly a penny on the week, settling Thursday at its highest level in seven weeks at 74.75 U.S. […] Read more
Prairie cash wheat: Bids lower as futures take a hit
CWRS values mixed; CPSR and durum down
Reading Time: 2 minutes MarketsFarm — Coming out of the holiday season, most western Canadian wheat bids were slightly lower for the week ended Thursday, as wheat futures in the U.S. continued to be bearish. U.S. wheat exports continue to fall behind last year’s pace, as cheaper Russian wheat floods the market due to a potential record crop and […] Read more
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