CWRS bids dip with U.S. futures, CPSR firm

Spring wheat prices for week ended April 24

Reading Time: 2 minutes

Published: April 25, 2025

Photo: Thinkstock

Glacier FarmMedia MarketsFarm — Hard red spring wheat bids in Western Canada moved lower during the week ended April 24, but other wheat varieties held firm despite losses in the United States futures.

Average Canada Western Red Spring (13.5%) wheat prices were down by C$1.40 to C$3.40 per tonne, according to price quotes from a cross-section of delivery points compiled by PDQ (Price and Data Quotes). Average prices ranged from C$280.20 per tonne in western Manitoba to as high as C$307.50 per tonne in southern Alberta.

Quoted basis levels varied from location to location and ranged from $56.90 to $84.20 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 everything into Canadian dollars (C$1=US$0.7209) CWRS basis levels ranged from C$1.20 to C$15.40 below the futures.

Read Also

Corn bids and offers have lately been far apart, with bids generally a dollar or more below the C$12 per bushel Ontario farmers would like to see. Photo: iStock/Getty Images

Feed Grain Weekly: Prices in a slow decline

Seasonal weakness and recent rains across the Prairies pressured feed grain prices according to a Moose Jaw-based trader.

Meanwhile, Canada Prairie Spring Red (CPSR) wheat bids were higher, up by C$0.80 to C$3.00 per tonne, with prices ranging from C$255.50 to C$279.00 per tonne.

Average durum prices were mixed, down 40 cents to up C$1.50, ranging from C$328.60 to C$341.50 per tonne.

Spring wheat futures in Minneapolis were down by 11.50 cents per bushel in the July contract to settle at US$6.0775 per bushel on April 24.

The Kansas City hard red winter wheat futures, which are now traded in Chicago, are more closely linked to CPSR in Canada. The July Kansas City wheat contract was down by 21.50 cents at US$5.5075 per bushel on April 24.

The July Chicago Board of Trade soft wheat contract was down by 16.50 cents on the week at US$5.4450 per bushel.

The Canadian dollar was up by a tenth of a cent relative to its U.S. counterpart, at 72.09 U.S. cents on April 24.

About the author

Phil Franz-Warkentin

Phil Franz-Warkentin

Editor - Daily News

Phil Franz-Warkentin grew up on an acreage in southern Manitoba and has reported on agriculture for over 20 years. Based in Winnipeg, his writing has appeared in publications across Canada and internationally. Phil is a trusted voice on the Prairie radio waves providing daily futures market updates. In his spare time, Phil enjoys playing music and making art.

explore

Stories from our other publications