Reading Time: 2 minutes CNS Canada — Cash wheat bids across Western Canada moved higher during the week ended Friday, as basis levels showed some improvement at most locations. Average Canada Western Red Spring (CWRS) wheat prices were up by C$7-$8 per tonne on average across the three Prairie provinces, according to price quotes from a cross-section of delivery […] Read more
Prairie wheat bids up as basis improves
U.S. wheat futures expected to retest nearby lows
Reading Time: 2 minutes CNS Canada –– U.S. wheat futures may have corrected off of nearby lows, but the nearby path of least resistance remains pointed lower, according to a market analyst. “In the big picture, we have plenty of supplies and demand has been lacklustre,” said Randy Martinson of Progressive Ag at Fargo, N.D. With export demand eroding, […] Read more
Prairies see high-protein wheat crop, but few premiums
Reading Time: < 1 minute CNS Canada –– Every year is a different story for wheat crop quality and protein levels — but the saturation of high-protein wheat in the market may mean fewer premiums for Prairie growers this year. The premium price for high-protein wheat has eroded to the point where there’s a shift from grain companies in the […] Read more
Prairie wheat bids edge down as loonie rises
Reading Time: 2 minutes CNS Canada –– Cash wheat bids across Western Canada posted small losses over the week ended Friday, as the strengthening Canadian dollar cut into basis levels. Average Canada Western Red Spring (CWRS) wheat prices were generally down by C$1 to $4 per tonne across the three Prairie provinces, according to price quotes from a cross-section […] Read more
Prairie wheat bids dip slightly
Reading Time: 3 minutes CNS Canada — Cash wheat bids across Western Canada generally dropped lower during the week ended Friday. Average Canada Western Red Spring (CWRS) wheat prices were up by C$1-$3 per tonne across the three Prairie provinces, according to price quotes from a cross-section of delivery points. Bids ranged from about $221 per tonne in southern […] Read more
Wheat basis levels improve, futures stay bearish
Reading Time: 2 minutes CNS Canada –– Canada’s spring wheat basis has hit fresh highs to spur producer selling, but overall the market remains bearish. “It does seem kind of counterintuitive to see cash prices strengthening right during harvest,” said Brenda Tjaden Lepp, co-founder of FarmLink Marketing Solutions in Winnipeg. Over the past week, quoted basis levels for Canada […] Read more
Prairie cash wheat bids mixed
Reading Time: 3 minutes 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
‘Nothing bullish’ in wheat futures
Reading Time: < 1 minute 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
Reading Time: 3 minutes 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
Reading Time: 2 minutes 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
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