Anything but cereals

The news on cereal crop prices continues to worsen. The Pool Return Outlooks from the Canadian Wheat Board have dropped for both the current crop year and the new crop year. The new crop PRO has seen the biggest decline. Since the projection made a month ago, new crop wheat is down $14 to $16 a tonne, durum is down $10 to $14 a tonne and two-row malting barley is down $7 a tonne. No. 1 CWRS wheat with 12.5 per cent protein has an expected price of $4.37 a bushel for the current crop year after deducting average Saskatchewan freight and handling. The price projection for the new crop year is only $4.13. No. 1 durum with 12.5 per cent protein is $3.80 in this crop year and only $3.53 a bushel in the new crop PRO. Two-row malting barley is pegged at $3.10 in this crop year and only $2.90 next crop year. Those are incredibly low wheat, durum and barley prices. It takes exceptional yields to cover all the costs at prices that low. It appears we’re back to the ABC’s for planting intentions, with ABC standing for Anything But Cereals. I’m Kevin Hursh.