27 April, 2007

Canada: CWB blames stronger Canadian dollar for weaker results

Wheat Board blames a stronger Canadian dollar for lower numbers in the April Pool Return Outlook, according to CWB, April 26.

The new crop year PRO's for feed barley and malting barley have been suspended. The CWB announced the decision last week, saying it could not make accurate price projections in light of the federal government's plan to remove the single desk selling system for barley.

The old crop year feed barley PRO is unchanged from last month. Dryness developing in Europe and delays in U.S. corn planting have provided some support to the global feed grains market. However, the recent strength of the Canadian dollar is pressuring forecast returns.

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