Glacier FarmMedia – Spring wheat bids in Western Canada had been largely decrease through the week ended Dec. 21, as energy within the Canadian greenback and losses in the USA futures weighed on values.

Common Canada Western Pink Spring (13.5%) wheat costs had been down by C$1.00 to C$4.90 per tonne throughout the Prairies, in accordance with value quotes from a cross-section of supply factors compiled by PDQ (Value and Knowledge Quotes). Common costs ranged from C$311.30 per tonne in southeastern Saskatchewan to as excessive as C$334.00 per tonne in southern Alberta.

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Quoted foundation ranges diverse from location to location and ranged from $48.90 to $71.60 per tonne above the futures when utilizing the grain firm methodology of quoting the idea because the distinction between the U.S. greenback denominated futures and the Canadian greenback money bids.

When accounting for forex trade charges by adjusting all the things into Canadian {dollars} (C$1=US$0.7513) CWRS foundation ranges ranged from C$8.60 to C$21.50 under the futures.

Canada Prairie Spring Pink (CPSR) wheat bids had been blended, down 80 cents to up C$2.80 per tonne, with costs starting from C$265.20 to C$289.50 per tonne.

Common durum costs had been down by C$7.80 to C$12.20 per tonne. Costs ranged from C$441.30 to C$448.30 per tonne.

Spring wheat futures in Minneapolis had been down by 3.00 cents per bushel within the March contract to settle at US$7.1425 per bushel on Dec. 21.

The Kansas Metropolis laborious purple winter wheat futures, which at the moment are traded in Chicago, are extra intently linked to CPSR in Canada. The March Kansas Metropolis wheat contract was down by 9.75 cents on the week to shut at US$6.2675 per bushel on Dec. 21.

The March Chicago Board of Commerce gentle wheat contract settled at US$6.1250 per bushel on Dec. 21, down by 3.25 cents on the week.

The Canadian greenback strengthened relative to its United States counterpart, rising by practically two-thirds of a cent to settle at 75.13 U.S. cents on Dec. 21.

— Phil Franz-Warkentin is an affiliate editor/analyst with MarketsFarm in Winnipeg.