Glacier FarmMedia — Western Canadian spring wheat bids were steady to stronger for the week ended Aug. 21 despite weaker United States wheat futures.
Much of the Canadian Prairies received heavy rainfall during the week, which benefited late-seeded crops. However, cooler temperatures and wet fields delayed harvest operations.
Across the region the winter wheat harvest was around the halfway mark while that for spring wheat was in its early stages.
Agriculture and Agri-Food Canada projected 2025-26 all wheat production at 34.855 million tonnes in its August report, 422,000 more than the July estimate. Ending stocks were raised by 50,000 tonnes at 4.35 million.
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Canadian Western Red Spring wheat was down C$0.30 to up C$2 per tonne, according to price quotes from a cross-section of delivery points compiled by PDQ (Price and Data Quotes). Average prices were between C$243.80/tonne in southeast Saskatchewan to C$270.20 in southern Alberta.
Quoted basis levels ranged from between C$34.70 to C$61/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.
Accounting for exchange rates and adjusting Canadian prices to U.S. dollars (C$1=US$0.7196), CWRS bids were from US$175.50 to US$194.40/tonne. Currency adjusted basis levels ranged from US$14.70 to US$33.70 below the futures. If the futures were converted to Canadian dollars, basis levels would be C$10.60 to C$24.30 below the futures.
Meanwhile, CPRS prices were down C$0.30 to up C$5.60 per tonne. The lowest average bid for CPRS was C$218.20 in southeast Saskatchewan, while the highest average bid was C$242.40 in southern Alberta.
The average prices for Canada Western Amber Durum (CWAD) were down C$5.80 to C$10.10 per tonne with bids between C$303 in northwest Saskatchewan to C$321.60 in southern Alberta.
The September spring wheat contract in Minneapolis, which most CWRS contracts are based off of, was quoted at US$5.6925 per bushel on Aug. 21, down 2.75 cents.
The Kansas City hard red winter wheat futures, which are now traded in Chicago, are more closely linked to CPRS in Canada. The September contract was down one cent at US$5.0325/bu.
The September Chicago soft red contract gained 3.5 cents at US$5.07/bu.
The Canadian dollar pulled back 0.47 of a cent to close at 71.96 U.S. cents on Aug. 21.
