Prairie Wheat Weekly: Modest increases across the region

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Published: February 21, 2025

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Glacier Farm Media | MarketsFarm – Western Canadian cash prices for spring wheat and amber durum made small gains during the week ended Feb. 20. Support came from higher prices in the United States wheat complex, but a stronger Canadian dollar limited the increases.

Average CWRS (13.5%) prices rose 40 cents to C$3.70 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$280.90 per tonne in western Manitoba to C$314.50 per tonne in southern Alberta.

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Quoted basis levels varied from location to location and ranged from C$48.40 to C$82.00 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 United States dollars (C$1=US$0.7048), CWRS bids ranged from US$197.90 to US$221.70 per tonne. That would put the currency-adjusted basis levels at about US$10.80 to US$34.60 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$7.60 to C$24.40 below the futures.

Average CPRS (11.5%) wheat added C$1.80 to C$2.60 per tonne. Bids ranged from C$272.80 per tonne in southeastern Saskatchewan to C$300.00 per tonne in southern Alberta.

Average CWAD prices gained C$2.00 to C$2.40 per tonne. Bids ranged from C$324.60 per tonne in northwestern Saskatchewan to C$329.90 per tonne in southeastern Saskatchewan.

The March spring wheat contract in Minneapolis, which most CWRS contracts Canada are based off of, was quoted at US$6.3275 per bushel on Feb. 20, up 16.00 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 March Kansas City wheat contract was quoted at US$6.0750 per bushel on Feb. 20, rising 9.25 cents from a week ago.

The March Chicago Board of Trade soft wheat contract settled at US$5.8550 per bushel on Feb. 20, increasing 7.75 cents.

The loonie gained more than a quarter of a cent on the week, settling at 70.48 U.S. cents.

About the author

Glen Hallick - MarketsFarm

Glen Hallick - MarketsFarm

Reporter

Glen Hallick grew up in rural Manitoba near Starbuck, where his family farmed. Glen has a degree in political studies from the University of Manitoba and studied creative communications at Red River College. Before joining Glacier FarmMedia, Glen was an award-winning reporter and editor with several community newspapers and group editor for the Interlake Publishing Group. Glen is an avid history buff and enjoys following politics.

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