PROs have dropped a long ways

The Pool Return Outlooks for wheat and durum have both dropped a bit more. The drop on wheat is as high as $6 a tonne. The drop on durum is $2 to $3 a tonne. The little bit of good news is that the December PRO on malting barley is up by $3 a tonne. The first PRO for the current crop year came out at the end of February. The market has fallen a long way since then. After deducting Saskatchewan freight and handling, No. 1 CWRS wheat with 13.5 per cent protein now has an expected value of $5.08 a bushel. That’s down $1.20 a bushel from where the PRO started in February. No. 1 durum with 13 per cent protein has a current PRO of just $4.34 a bushel, a drop of a whopping $2.40 a bushel since the first prediction. Two-row malting barley has a current PRO of $3.14 a bushel. That’s down $1.14 from where it started. It’s good to monitor market and price predictions, but as this year has shown, the outlook can change in a hurry. I’m Kevin Hursh.