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Crops, Markets, Spring Wheat

Prairie cash wheat: Stronger loonie sends bids down

U.S. wheat futures also down on week

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MarketsFarm — A rising Canadian dollar helped lower western Canadian wheat bids for the week ended Thursday despite an array of supportive factors. As the central and southern U.S. Plains deal with severe drought in winter wheat-growing areas, a large snowpack in the northern Plains threatens to delay spring wheat seeding by a few weeks. […] Read more
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Crops, Markets, Spring Wheat

Prairie cash wheat: Bids drift lower

U.S. wheat futures down on week

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MarketsFarm — Spring wheat bids in Western Canada softened during the week ended Wednesday, as choppiness in U.S. futures and strength in the Canadian dollar weighed on values. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were down by $1.60-$6.90 per tonne across the Prairies, according to price quotes from a […] Read more
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Crops, Markets, Spring Wheat

Prairie cash wheat: Reds higher, durum dips

U.S. wheat futures up on the week

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MarketsFarm — Wheat prices on the Canadian Prairies saw modest increases in the red spring varieties during the week ended Thursday, while durum stepped back. Significant gains in the U.S. wheat complex spilled over into Canadian cash prices, but stronger Canadian dollar tempered further increases. Ongoing concerns about dry conditions in the U.S., especially the […] Read more
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Crops, Markets, Spring Wheat

Prairie cash wheat: Red spring wheats gain ground, durum dips

U.S. futures, Canadian dollar up on week

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MarketsFarm — Wheat prices on the Canadian Prairies saw upticks in the red spring varieties during the week ended Thursday, while durum stepped back a little. A strong upswing in the U.S. wheat complex lent support to Canadian cash prices, but a slightly higher dollar tempered further increases. There’s continued dryness in the U.S., especially […] Read more
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Crops, Markets, Spring Wheat

Prairie cash wheat: U.S. futures drag down wheat bids

Potential for more interest rate hikes remains

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MarketsFarm — Hawkish comments from the chair of the U.S. Federal Reserve and the possible renewal of the Black Sea Grain Initiative brought down wheat futures on the Chicago Board of Trade (CBOT) for the week ended Thursday — and, in turn, pressured western Canadian wheat bids. In front of the U.S. Senate banking committee […] Read more
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Crops, Markets, Spring Wheat

Prairie cash wheat: Bids dip with U.S. futures

Canadian dollar also down on week

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MarketsFarm — Spring wheat bids in Western Canada posted losses during the week ended Thursday, underpinned as losses in U.S. futures weighed on values. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were down by $3.50-$8.10 per tonne across the Prairies, according to price quotes from a cross-section of delivery points […] Read more
CBOT May 2023 soft red winter wheat with 20-day moving average, MGEX May 2023 hard red spring wheat (yellow line) and K.C. May 2023 hard red winter wheat (orange line). (Barchart)
Crops, Markets, Reuters

U.S. grains: Wheat hits lowest since September 2021

Chicago corn, soy also fall

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Chicago | Reuters — Chicago Board of Trade wheat futures dropped 1.6 per cent to their lowest level since September 2021 on Monday as rain across key growing areas during the weekend boosted harvest prospects for the U.S. crop, traders said. Optimism that the deal allowing grain shipments from Black Sea ports in war-torn Ukraine […] Read more
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Crops, Markets, Spring Wheat, Winter Wheat

Prairie cash wheat: Durum rises, red spring falls back

U.S. wheat futures down on week

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MarketsFarm — Wheat prices on the Canadian Prairies saw the red spring varieties take a hit during the week ended Thursday, while durum made gains. There were sharp declines in the U.S. wheat complex, which weighed on Canadian cash prices while a weaker dollar helped to stymie further losses. Despite the one-year anniversary of the […] Read more
CBOT March 2023 soybeans with 20-day moving average (right column) and CBOT March 2023 soyoil (dark green line, left column). (Barchart)
Crops, Markets, Reuters

U.S. grains: Soy, corn hit one-week highs on Argentina weather worries

Firmer U.S. dollar drags on CBOT wheat

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Chicago | Reuters — U.S. soybean and corn futures hit their highest in a week and soyoil touched a one-month peak on Tuesday as worries about crop prospects in drought-hit Argentina supported prices, analysts said. “It’s all about drought in Argentina… and adding more risk premium,” said Don Roose, president of Iowa-based U.S. Commodities. “The […] Read more
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Crops, Markets, Spring Wheat

Prairie cash wheat: Little change in wheat bids

U.S. wheat futures up on week

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MarketsFarm — Despite bullish factors affecting wheat futures on the Chicago Board of Trade (CBOT), western Canadian wheat bids did not see much change during the week ended Thursday. Futures prices for all three major U.S. varieties increased week-by-week, mostly fuelled by large gains on Feb. 10, as traders shifted focus to Russia’s invasion of […] Read more

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