The price projections for wheat and durum have dimmed a bit over the past month. In the Pool Return Outlooks released yesterday, most grades of wheat are down 20 to 25 cents a bushel in this crop year and 60 to 70 cents a bushel in the new crop year. The drops are greater on durum. Durum is down 40 to 50 cents a bushel for this crop year, while the new crop PRO is down more than a dollar on the main grades as compared to the projection made in February. For No. 1 CWRS wheat with 12.5 per cent protein, the new crop price projection, after deducting average Saskatchewan freight and handling, comes to about $7.11 a bushel, just slightly more than the price expected in the current crop year. On No. 1 durum with 12.5 per cent protein, the new crop price projection has declined to about $7.51 a bushel, after average freight and handling. So, durum is still expected to establish a new crop price premium over spring wheat, but the premium has declined since last month. The new crop PRO on malting barley is down 20 cents, giving a price for two-row of $5.61 a bushel. That number will be of interest to producers who are considering any Cash Plus offerings. Markets have been extremely volatile, and goodness knows what the PRO might look like a month from now when the next one is released.
I’m Kevin Hursh.
DynAgra, an independent Western Canada-based Company, is dedicated to providing growers with the tools to manage the risk and maximize the profitability of their farm business through the continued innovation of agricultural products and services. We are committed to developing and providing growers with the latest in precision agronomics, variable rate technology, soil fertility, crop protection, fertilizers, custom application and financial solutions.