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The Pool Return Outlooks for wheat, durum and malting barley have all taken nasty tumbles. The August PRO from the Canadian Wheat Board is down 50 to 75 cents a bushel on wheat, down over 80 cents a bushel on the top classes of durum, and down about 45 cents a bushel on malting barley. There was a significant drop in the July PROs, but the August decline is much larger. Number one spring wheat with 12.5 per cent protein now has an expected price of just $4.83 a bushel after average Saskatchewan freight and handling is deducted. Spring wheat with 13.5 per cent protein is pegged at $5.11 a bushel. The CWB notes that the wheat market has been pressured by the harvest in the northern hemisphere and generally favourable growing conditions. Number one durum with 13.0 per cent protein has a PRO of $5.30 a bushel after deductions. The CWB says the quality of the North American harvest will play a large role in determining price movement during the next year. On malting barley, excellent quality and above average yields in Europe has pressured international prices. Two-row malting barley now has an expected Saskatchewan price of just $3.44 a bushel. Ouch. I’m Kevin Hursh. For more grain prices visit www.dynagra.com
Kevin Hursh PAg CAC