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Wheat Pricing Opportunities Still Exist: CWB
20.08.2010 12:54 "Agro Perspectiva" (Kyiv) —
The Canadian Wheat Board has issued an update on the wheat market, to alert Prairie producers to the potential pricing opportunities that continue to exist.
In its update, the CWB reminds farmers that there are «a variety of excellent pricing choices for wheat through the CWB or brokers. These values are comparable to posted U.S. elevator bids and the prices available to American producers, despite recent misleading reports to the contrary.»
Wheat futures have been extremely volatile, with the December Minneapolis contract moving from US$5.22/bu on June 29 to $8.05 at the peak on Aug. 5, and then dropping to $7.19 by Aug. 17.
The board adds that significant increases could occur when it releases its August pool return outlooks (PROs) next week. «However, prices will need to remain high for much of the crop year for increased PRO projections (this early in the crop year) to be realized in terms of actual farmer returns. Market volatility makes longer-term price projections uncertain,» it said.
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