Complete or near-complete pool sales have led to relatively minor movement across the Canadian Wheat Board’s last pool return outlook (PRO) for the 2009-10 crop year.
“With pool sales essentially complete, changes in PRO values due to shifts in prices and foreign exchange are relatively small,” the CWB said in its wheat market commentary Thursday.
Compared to 2010-11 wheat PRO values, which rose Thursday by as much as $30 per tonne, PRO values for 2009-10 milling wheat show slim increases, with No. 1 Canada Western red spring (CWRS) at 14.5 per cent protein up just $1 per tonne from July levels, to $263 ($7.16 per bushel).
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The biggest increase in the 2009-10 milling wheat PROs was seen in No. 2 CWRS (13.5 per cent protein), rising $5 per tonne from $229 in July to $234 ($6.37/bu.) on Thursday.
No. 1 CW red winter rose to $182, up $4 from July, while CW Feed rose just $1, to $139 ($3.78 per tonne).
Durum values are “relatively unchanged” from the July 2009-10 PRO, the CWB said, as pool sales are complete and changes based on price shifts and foreign exchange rates are “relatively small.”
The “major influence” on the durum PRO was in pool volume, the CWB said, due to farmers allocating tonnage ahead from the 2009-10 crop year to 2010-11.
With that, values for 2009-10 No. 1 CW amber durum (CWAD) at 13 per cent protein slipped Thursday by $1 per tonne from July levels, to an even $200 per tonne ($5.44/bu.) and No. 1 CWAD (11.5) dropped to $190 per tonne, down $4.
No. 2 CWAD (13.0) rose to $191 per tonne and No. 4 CWAD to $151 ($4.11/bu.), both up $4 per tonne from July.
Designated (malting) barley values were up just $1 per tonne in Thursday’s PRO, with Select CW two-row and six-row rising to $209 and $191 per tonne ($4.55 and $4.16/bu.) respectively. Pool sales are complete.
Due to low offshore values for feed barley relative to domestic values, there were no deliveries to the 2009-10 feed barley Pool B, the CWB said.
