New and old crop PRO released yesterday.
Pool Return Outlooks
2007-08 crop year
DATE: July 24, 2008
CWB 2007-08 PRO Shows Wheat Down Slightly, Durum and Barley Up
Winnipeg -- The CWB today released its July 2008 Pool Return Outlook (PRO) for the 2007-08 crop year. Wheat values are down $3 per tonne from the May PRO, reflecting recent changes in world market factors. Milling durum is up $7 to $8 per tonne while designated barley is up $3 per tonne. Feed barley projections have increased $4 per tonne from the June PRO.
http://www.cwb.ca/dom/db/contracts/pool_return/pro.nsf/WebPRPub/2007_20080724.html?OpenDocument&CropYr=2007-08
Pool Return Outlooks
2008-09 crop year
DATE: July 24, 2008
Wheat Values Lower in CWB 2008-09 PRO
Winnipeg -- The CWB today released its July 2008 Pool Return Outlook (PRO) for the 2008-09 crop year. Wheat values are down $11 per tonne from last month's PRO, with the exception of Canada Western feed, which remains unchanged. Durum, feed barley and designated barley values are all unchanged from June.
http://www.cwb.ca/dom/db/contracts/pool_return/pro.nsf/WebPRPub/2008_20080724.html?OpenDocument&CropYr=2008-09
My only comment (similar to other analysts) is this is a year to price all old crop into the 2007/08 pooling year (for wheat at least). Based on the market, the new crop PRO has more potential to be lower than higher. Will note the 2008/09 PRO could have come down more based on the market (perhaps the CWB didn't want to make their initial payments look too silly when they come out in another week).
Others thoughts.
Pool Return Outlooks
2007-08 crop year
DATE: July 24, 2008
CWB 2007-08 PRO Shows Wheat Down Slightly, Durum and Barley Up
Winnipeg -- The CWB today released its July 2008 Pool Return Outlook (PRO) for the 2007-08 crop year. Wheat values are down $3 per tonne from the May PRO, reflecting recent changes in world market factors. Milling durum is up $7 to $8 per tonne while designated barley is up $3 per tonne. Feed barley projections have increased $4 per tonne from the June PRO.
http://www.cwb.ca/dom/db/contracts/pool_return/pro.nsf/WebPRPub/2007_20080724.html?OpenDocument&CropYr=2007-08
Pool Return Outlooks
2008-09 crop year
DATE: July 24, 2008
Wheat Values Lower in CWB 2008-09 PRO
Winnipeg -- The CWB today released its July 2008 Pool Return Outlook (PRO) for the 2008-09 crop year. Wheat values are down $11 per tonne from last month's PRO, with the exception of Canada Western feed, which remains unchanged. Durum, feed barley and designated barley values are all unchanged from June.
http://www.cwb.ca/dom/db/contracts/pool_return/pro.nsf/WebPRPub/2008_20080724.html?OpenDocument&CropYr=2008-09
My only comment (similar to other analysts) is this is a year to price all old crop into the 2007/08 pooling year (for wheat at least). Based on the market, the new crop PRO has more potential to be lower than higher. Will note the 2008/09 PRO could have come down more based on the market (perhaps the CWB didn't want to make their initial payments look too silly when they come out in another week).
Others thoughts.
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