The Canadian Wheat Board has released new Pool Return Outlooks for both the current crop year and the upcoming crop year. Price projections didn’t change very much for this crop year, but there was a significant drop for the new crop year. Wheat values are down $12 to $17 a tonne. Durum is down $14 to $18 a tonne and malting barley is down $6 a tonne as compared to the forecast in June. There’s now an even bigger gap in the price expectations between the two crop years. No. 1 CWRS spring wheat with 12.5 per cent protein is expected to bring $6.34 a bushel in this crop year once average Saskatchewan freight and handling is deducted. The new crop year projection is $5.47 a bushel. No. 1 durum with 12.5 per cent protein has a price expectation of $8.39 a bushel in the current crop year, but that’s dropping to just $5.97 for next crop year. Two-row malting barley is pegged at $5.37 a bushel in this crop year and only $3.86 next crop year. The drop in next year’s Pool Return Outlook isn’t surprising given the recent drop in American futures prices. I’m Kevin Hursh.
Kevin Hursh, PAg, CAC
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