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U.S. drought lifts PRO values

Values in CWB’s 2012-13 harvest pool return outlook (PRO) have risen on the expected demand for Canada’s wheat, barley and canola in the wake of the U.S. Corn Belt’s drought.

CWB’s second round of new-crop PROs, issued Sept. 14, sees wheat and durum values up by $11 per tonne, malting barley up $10 and canola up $20 in the harvest pool compared to the previous PRO sheet on Aug. 3.

CWB’s latest PROs for both the early delivery and harvest pool peg high-protein (14 per cent) No. 1 Canada Western red spring (CWRS) at $370 per tonne ($10.07/bu.), No. 1 CWRS (12.5 per cent) at $360 ($9.80/bu.), and No. 2 CW red winter (CWRW) at $332 ($9.04/bu.).

Durum

PRO values for both the early delivery and harvest pools are pegged at $351 per tonne ($9.55/bu.) for high-protein (13 per cent) No. 1 CW amber durum (CWAD) and $335 ($9.12/bu.) for No. 2 CWAD. CWB’s durum early delivery and harvest pools are just under 30 per cent and 15 per cent priced, respectively.

Malting barley

Both the early delivery and harvest PROs are pegged at $315 per tonne ($6.86/bu.) for Select CW two-row malting barley.

Canola

The canola PRO, pegged Sept. 14 at $660 per tonne ($14.97/bu.) reflects canola futures values in the range of $640-$650 per tonne through May 2013, CWB said.

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