Glacier FarmMedia – Bearish projections from Statistics Canada and a stronger Canadian dollar caused Western Canadian wheat bids to decline during the week ended Sept. 18.
StatCan released its revised principal field crop report on Sept. 17, estimating Canada’s 2025-26 all wheat crop to total 36.624 million tonnes, up from its August estimate of 35.545 million and higher than the 2024-25 production total of 35.939 million. If realized, it would be Canada’s largest wheat crop since 2013.
Projected durum production was raised by 457,000 tonnes at 6.535 million.
Winter wheat harvests in both Saskatchewan and Manitoba were complete, but the spring wheat harvests in both provinces weighed on prices. Manitoba’s was at 90 per cent completion as of Sept. 16, while Saskatchewan’s was slowed down by rain at 56 per cent as of Sept. 17.
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CWRS wheat was down C$0.50 to C$4.70 per tonne, according to price quotes from a cross-section of delivery points compiled by PDQ (Price and Data Quotes). Average prices were between C$235.70/tonne in southeast Saskatchewan to C$260.80 in southern Alberta.
Quoted basis levels ranged from between C$25.60 to C$50.70/tonne above the futures when using the grain company methodology of quoting the basis as the difference between the U.S. dollar denominated futures and the Canadian dollar cash bids.
Accounting for exchange rates and adjusting Canadian prices to U.S. dollars (C$1=US$0.7248), CWRS bids were from US$170.80 to US$189/tonne. Currency adjusted basis levels ranged from US$21.10 to US$39.30 below the futures. If the futures were converted to Canadian dollars, basis levels would be C$15.30 to C$28.50 below the futures.
Meanwhile, CPRS prices were down C$1.10 to C$2.10 per tonne. The lowest average bid for CPRS was C$211.10 in southeast Saskatchewan, while the highest average bid was C$235 in southern Alberta.
The average prices for CWAD were down C$1.20 to C$4.30 per tonne with bids between C$266.80 in northeast Saskatchewan to C$283.80 in southern Alberta.
The December spring wheat contract in Minneapolis, which most CWRS contracts are based off of, was quoted at US$5.7175 per bushel on Sept. 18, up 0.25 of a cent.
The Kansas City hard red winter wheat futures, which are now traded in Chicago, are more closely linked to CPRS in Canada. The December contract was unchanged at US$5.10/bu.
The December Chicago soft red contract gained 2.75 cents at US$5.2425/bu.
The Canadian dollar added 0.25 of a cent to close at 72.48 U.S. cents on Sept. 18.
