Glacier FarmMedia | MarketsFarm — Spring wheat and durum cash prices were moderately higher across the Canadian Prairies for the week ended Dec. 19.
This was despite losses in Chicago and Kansas City wheat and Agriculture and Agri-Food Canada projecting larger all wheat ending stocks for 2025/26.
Minneapolis wheat bumped up on the week, lending some support to Canadian cash prices.
CWRS
Average CWRS (13.5%) prices added 90 cents to C$2.30 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$246.30 per tonne in southeastern Saskatchewan to C$274.20 per tonne in southern Alberta.
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Quoted basis levels varied from location to location and ranged from C$33.90 to C$61.90 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$0.7256), CWRS bids ranged from US$178.70 to US$199.00 per tonne. That would put the currency-adjusted basis levels at about US$13.40 to US$33.70 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$9.70 to C$24.40 below the futures.
CPRS & CWAD
Average CPRS (11.5%) wheat prices bumped up 20 cents to C$1.50 per tonne. Bids ranged from C$219.10 per tonne in southeastern Saskatchewan to C$241.00 per tonne in southern Alberta.
Average CWAD prices gained 80 cents to C$2.40 per tonne. Bids ranged from C$268.00 per tonne in southwestern Saskatchewan to C$281.00 per tonne in western Manitoba.
Wheat complex & loonie
The March spring wheat contract in Minneapolis, which most CWRS contracts Canada are based off of, was quoted at US$5.7800 per bushel on Dec. 19, rising 2.25 cents
The Kansas City hard red winter wheat futures, which are now traded in Chicago, are more closely linked to CPRS in Canada. The March Kansas City wheat contract was quoted at US$5.1525 per bushel on Dec. 19, slipping 2.75 cents from a week ago.
The December Chicago Board of Trade soft wheat contract settled at US$5.0975 per bushel Dec. 19, retreating 19.50 cents.
The Canadian dollar slipped by less than a 10th of a cent at 72.56 U.S. cents.
