April PRO Released Today - april 23

[charliep]

Pool Return Outlooks
2009-10 crop year
DATE: April 23, 2009
Grain Values Lower in Latest CWB PRO for 2009-10
Winnipeg -- The CWB today released its April 2009 Pool Return Outlook (PRO) for the 2009-10 crop year. Wheat values are lower by $14 per tonne from last month for all grades and classes except CW Feed, which is down $6. Milling durum is lower by $15 per tonne, while malting barley has declined by $7 from the March PRO. Pool A feed barley is down $5 per tonne.

[charliep]

Just a note to highlight basis levels remained relatively stable. Spread FPC and PRO has narrowed.

CWRS PRO today - $283/tonne ($297 Apr. 22)

CWRS FPC today - $277.5 ($273.56 yesterday).

Basis - $16.05 ($17.28)

[Hopperbin]

I guess they could have kept the feed barley price the same as they likely weren't going to get any delivery anyway.
I think the CWB just wants to discourage acres at this moment so they have less grain to market, increasing the price later.

[mcfarms]

Charlie
How can a closed pool go down??? Unhedged currency risk?

[charliep]

mcfarms

Just a note today's PRO is new crop (2009-10). The only old
crop PRO is feed barley.
Winnipeg -- The CWB today released its April 2009 Pool
Return Outlook (PRO) for feed barley Pool B in the 2008-09
crop year. The PRO is down $3 per tonne from last month.

Would be interesting to know how many feed barley cash
sales the CWB has made this year.

[mcfarms]

Doh !!! :]

[mcfarms]

Well then I being foolishly wrong before ( can tell I was driving on the 2 all afternoon and my eyes were bleary) must add something to the pro discussion to make amends. Based on the latest cash plus numbers I have heard worked back to here the pro is in line with where the world market is. The major competing exporters are in relatively good shape with Europe having good conditions and as you read according to Mallee potentially positive conditions for AUS at this point. Barley is the only crop I am looking to do the SPE on.