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CWB PROs Shoot Strongly Higher
27.08.2010 13:29 "Agro Perspectiva" (Kyiv) —
With weather playing havoc with overseas crops, wheat, durum and barley values are all up sharply in the Canadian Wheat Board’s latest monthly 201011 pool return outlooks (PROs).
Released today, the August PRO has wheat values up between $33 and $53/tonne from July, while durum is $33 to $41 higher from last month. Malting barley increases by $46 and feed barley jumps $66 from the previous month.
With the change, the average expected pool return for No. 1 CWRS (13.5% protein) is now $7.57/bu, compared to $6.12 in July (I/S Vancouver or St. Lawrence). The average expected return for No. 1 CWAD (12.5%) climbs to $6.56 from $5.44, and feed barley rises to $4.55 from $3.11. The average expected pool returns for two- and six-row barley are now pegged at $5.66 and $5.29/bu, both up $1 from July.
At the time of today’s PRO, the CWB said it had priced approximately 18% of the expected 201011 crop year deliveries of wheat. A pricing level of 50% is anticipated by the end of December.
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