Glacier FarmMedia — Canada Western Red Spring wheat bids held relatively steady during the week ended Feb. 3, with small price declines in some areas and increases in others.
CWRS
Average CWRS (13.5 per cent) wheat prices were down C$0.70 to up C$2.10 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$248.00/tonne in southeastern Saskatchewan to as high as C$277.60/tonne in southern Alberta.
Quoted basis levels varied from location to location and ranged from $39.10 to $68.70/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.
Read Also
Bunge forecasts 2026 profit below estimates on macroeconomic uncertainty
Bunge Global on Wednesday reported a 2026 profit outlook below analysts’ expectations.
When accounting for currency exchange rates by adjusting everything into Canadian dollars (C$1=US$0.7325) CWRS basis levels ranged from C$4.10 to C$19.90 below the futures.
CPSR
Canada Prairie Spring Red (CPSR) wheat bids were higher, gaining C$0.90 to C$2.20 per tonne, with prices ranging from C$226.20 to C$251.40 per tonne.
Durum
Average durum prices were up C$1.70 to up C$4.40 per tonne, ranging from C$275.50 to C$286.80 per tonne.
Futures
MIAX spring wheat futures lost 2.75 cents per bushel in the March contract to settle at US$5.69/bu. on Feb. 3.
Hard red winter wheat futures were up by two cents in the March contract on the week at US$5.3475/bu.
The March Chicago soft wheat contract was up 5.50 cents at US$5.2875/bu.
The Canadian dollar hit its strongest level in 15 months relative to its U.S. counterpart but backed away from those highs to end down by nearly a fifth of a cent on the week at 73.25 U.S. cents on Feb. 3.
