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Prairie cash wheat: Bids mostly higher

Spring wheat bids in Western Canada saw some mixed activity during the week ended Thursday (Dec. 22), with small losses reported for red spring wheat in Manitoba, while prices were up in Alberta and Saskatchewan.

Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were down by 30-40 cents in Manitoba, while they rose by as much as $3.90 per tonne across the rest of the Prairies, according to price quotes from a cross-section of delivery points compiled by PDQ (Price and Data Quotes).

Average CWRS prices ranged from $420.80 per tonne in southeastern Saskatchewan to as high as $443.70 per tonne in southern Alberta.

Quoted basis levels varied from location to location and ranged from $82.10 to $105.10 per 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.

When accounting for currency exchange rates by adjusting everything into Canadian dollars, CWRS basis levels ranged from $10.10 to $22.30 below the futures.

Canada Prairie Spring Red (CPSR) wheat bids were up by $2.60-$10.40 per tonne, with prices ranging from $402.10 to $425.20 per tonne.

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