Canada: PRO for barley pools announced by CWB
The CWB today released its November Pool Return Outlook (PRO) for the 2005-06 crop year. The PRO for feed barley Pool A (which runs from August 1 to January 31) is unchanged from last month. The first PRO for feed barley Pool B (February to July 31)has been announced, with values at $118 per tonne. Designated barley pool returns are $2 to $4 per tonne higher than last month’s PRO.
Designated barley
SS CW Two-row
Tonne 172.00
Bushel 3.74
Tonne 170.00
Bushel 3.70
Std Sel Two-row
Tonne 167.00
Bushel 3.64
Tonne 165.00
Bushel 3.59
SS CW Six-row
Tonne 164.00
Bushel 3.57
Tonne 160.00
Bushel 3.48
Std Sel Six-row
Tonne 159.00
Bushel 3.46
Tonne 155.00
Bushel 3.37
Note: PROs are the CWB's estimate of crop year returns. Farmers who use PROs to make marketing decisions are advised that unusual weather in importing or exporting countries and other changes in market conditions could dramatically affect the price forecasts. PROs are not price guarantees and should not be confused with initial payments. PROs also do not represent CWB offer values for prospective sales transactions nor sales values for actual transactions.
Feed barley
Pool A - Feed barley pool returns are unchanged this month amid relatively stable global barley values and with sales nearing completion.
Pool B - Tightening export supplies for 2005-06 in the Black Sea region is now limiting its feed barley exports and the lower forecast production for 2006 is also positive. However, timely rains have boosted Australian barley production estimates to a near-record level. The Canadian dollar is projected to remain strong through the Pool B marketing period, which will also weigh on pool returns.
Recent sales have been positive to the pool returns. Although Australian production volumes have been boosted by rains, harvest quality may become an issue.
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