Canada Markets
Cliff Jamieson Canadian Grains Analyst
Wed Jul 9, 2014 04:42 PM CDT

The average prairie-wide wheat basis, based on available Internet bids, has narrowed 17 cents per bushel so far this month to an average of $1.68/bu ($61.73/bu) under the September Minneapolis future, partially offsetting the 29 3/4 cent drop seen in the September future in the same period. This is the narrowest basis calculated since early December, but continues to indicate the challenges faced due to huge supplies remaining on the prairies.

This average cash basis represents an average cash price of $4.79/bu on the prairies, which may well be below the price objectives for many producers. Statements from industry participants ...

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