Glacier Farm Media | MarketsFarm — Cash prices for spring wheat and durum across the Canadian Prairies pulled back during the week ended July 24.
The United States wheat complex saw gains in Chicago and Kansas City wheat, while Minneapolis spring wheat pulled back.
Pressure on Prairie cash prices came from a stronger Canadian dollar, which climbed nearly two-thirds of a cent at 73.36 U.S. cents.
Agriculture and Agri-Food Canada issued its July supply and demand estimates, reducing total wheat output for 2025/26 by 300,000 tonnes at 34.43 million. All wheat ending stocks were bumped up by 50,000 tonnes at 4.30 million.
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CWRS
Average CWRS (13.5%) prices lost C$6.60 to C$12.60 per tonne, according to price quotes from a cross-section of delivery points compiled by PDQ (Price and Data Quotes). Those prices ranged from about C$251.20 per tonne in southeastern Saskatchewan to C$277.70 per tonne in southern Alberta.
Quoted basis levels varied from location to location and ranged from C$36.10 to C$62.60 per 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.
When accounting for currency exchange rates by adjusting Canadian prices to U.S. dollars (C$1=US$0.7337), CWRS bids ranged from US$184.30 to US$203.80 per tonne. That would put the currency-adjusted basis levels at about US$11.40 to US$30.80 below the futures.
Looking at it the other way around, if the Minneapolis futures are converted to Canadian dollars, CWRS basis levels across Western Canada ranged from C$8.40 to C$22.60 below the futures.
CPRS & durum
Average CPRS (11.5%) wheat gave up C$0.50 to C$2.40 per tonne. Bids ranged from C$227.70 per tonne in southeastern Saskatchewan to C$258.30 per tonne in southern Alberta.
Average CWAD prices pulled back C$2.00 to C$6.30 per tonne. Bids ranged from C$323.80 per tonne in northwestern Saskatchewan to C$335.50 per tonne in western Manitoba.
U.S. wheat complex
The September spring wheat contract in Minneapolis, which most CWRS contracts Canada are based off of, was quoted at US$5.8550 per bushel on July 24, down 9.50 cents on the week.
The Kansas City hard red winter wheat futures, which are now traded in Chicago, are more closely linked to CPRS in Canada. The September Kansas City wheat contract was quoted at US$5.2850 per bushel on July 24, adding 11 cents from a week ago.
The September Chicago Board of Trade soft wheat contract settled at US$5.4150 per bushel on July 24, rising eight cents.
