Canada Markets

Agriculture and Agri Food Canada releases regular export indications for a number of commodities. Data is referred to as Export Quotations, with a distinction made between data which originates from exporters or from International Grains Council data.

The narrowest range in quotations over the course of the 2013/14 crop year is seen in the west coast quotes for the medium quality Canada Prairie Spring class, where the 2013/14 cumulative average of quotes was reported at $290.81 per metric tonne on Aug. 2 and reached a low of $285.54/mt the week of Oct. 4 only to rebound slightly to $288.62/mt in the Oct. 18 report. The most recent quote is down just three-quarters of 1% since the beginning of the crop year while is 14.8% below the cumulative average of $338.61/mt as of the same date last year.

The cumulative average quotes for 1 CWRS 13.5% protein quotes have fallen approximately 3% since the beginning of August in both the east and the west, with the West Coast quotes having ticked higher in the past two weeks. The cumulative average for eastern quotations is $24.98/mt or 6.8% below the cumulative average as of Oct. 18 2012. The cumulative average for West Coast quotations as of Oct. 18 is $56.74/mt or 15.4% below year-ago levels, signaling heightened competition into Asian markets relative to markets off the eastern side of the country.

The cumulative average quotes for 1 CWAD 13% has fallen by 6% FOB the west coast since the start of the crop year while quotations have fallen by 9.9% FOB the St Lawrence. Looking at the drop from year-ago levels, cumulative West Coast quotations are $21.57/mt or 5.6% below year-ago levels while the St Lawrence quotes are $42.31/mt or 10.7% below the cumulative quotation level on a year ago.

Cliff Jamieson can be reached at cliff.jamieson@telventdtn.com

(ES)

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