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Feb 17, 2012
2011-12 adjustment payment deferal deadline
Feb 20, 2012
CWB open on Louis Riel/Family Day
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April commentary
2009-10 FlexPro
The FlexPro prices reflect the prices available for CWB sales activity for the remainder of the shipment window for 2009-2010 crop year deliveries. The FlexPro is not impacted by the price levels of previous CWB sales. As a result, the FlexPro will be more volatile than an FPC. The FlexPro for CWRS increased by $7.41 per tonne to $205.35. The FlexPro increased because of an increase in prices in those markets and shipping periods where the remainder of the 2009-10 crop is expected to be sold.
2009-10 FlexPro - Monthly Changes
| CWRS | CWHW | CWES | CWRW | CPSR | CPSW | CWSWS | |
| 25-Mar | $205.35 | $205.35 | $175.37 | $146.48 | $154.88 | $151.84 | $133.32 |
| 22-Apr | $212.76 | $212.76 | $182.78 | $154.99 | $163.33 | $160.30 | $141.78 |
| Change | +$7.41 | +$7.41 | +$7.41 | +$8.51 | +$8.45 | +$8.46 | +$8.46 |
Basis Commentary
The basis level available on BPC contracts will be impacted by the correlation between the FlexPro, the particular futures market and maturity of the basis contract. For classes where there is a weaker correlation, the basis will be more volatile. Over the past month, the Minneapolis May 2010 basis for CWRS was lower by 0.79 cent a tonne.
The basis can be derived from the FlexPro by using the following formula:
Basis = FlexPro - Futures
During periods when FPC prices are available the basis price can also be derived using the formula :
Basis = FPC - Futures – Adjustment factor.
Note: The adjustment factor represents the impact of pricing activity that has been completed to date.
2009-10 BPC May Basis - Monthly Changes
| CWRS | CWHW | CWES | CWRW | CPSR | CPSW | CWSWS | |
| 25-Mar | +$14.62 | +$14.62 | -$15.36 | -$36.11 | -$27.71 | -$30.75 | -$46.18 |
| 22-Apr | +$14.09 | +$14.09 | -$15.89 | -$36.69 | -$28.35 | -$31.38 | -$46.22 |
| Change | -$0.79 | -$0.79 | -$0.79 | -$0.75 | -$0.81 | -$0.80 | $0.31 |
March commentary
2009-10 FlexPro
The FlexPro prices reflect the prices available for CWB sales activity for the remainder of the shipment window for 2009-2010 crop year deliveries. The FlexPro is not impacted by the price levels of previous CWB sales. As a result, the FlexPro will be more volatile than an FPC. The FlexPro for CWRS declined by $17.29 per tonne to $205.35. The FlexPro fell because of a decline in prices in those markets and shipping periods where the remainder of the 2009-10 crop is expected to be sold.
2009-10 FlexPro - Monthly Changes
| CWRS | CWHW | CWES | CWRW | CPSR | CPSW | CWSWS | |
| 25-Feb | $223.56 | $223.56 | $193.56 | $164.64 | $171.64 | $170.64 | $151.60 |
| 25-Mar | $205.35 | $205.35 | $175.37 | $146.48 | $154.88 | $151.84 | $133.32 |
| Change | -$17.29 | -$17.29 | -$17.27 | -$19.29 | -$18.89 | -$18.93 | -$18.43 |
Basis Commentary
The basis level available on BPC contracts will be impacted by the correlation between the FlexPro, the particular futures market and maturity of the basis contract. For classes where there is a weaker correlation, the basis will be more volatile. Over the past month, the Minneapolis July 2010 basis for CWRS was lower by 1.21 cent a tonne.
The basis can be derived from the FlexPro by using the following formula:
Basis = FlexPro - Futures
During periods when FPC prices are available the basis price can also be derived using the formula :
Basis = FPC - Futures – Adjustment factor.
Note: The adjustment factor represents the impact of pricing activity that has been completed to date.
2009-10 BPC July Basis - Monthly Changes
| CWRS | CWHW | CWES | CWRW | CPSR | CPSW | CWSWS | |
| 25-Feb | +$15.83 | +$15.83 | -$14.17 | -$37.51 | -$29.51 | -$32.51 | -$50.74 |
| 25-Mar | +$14.62 | +$14.62 | -$15.36 | -$36.11 | -$27.71 | -$30.75 | -$46.18 |
| Change | -$1.21 | -$1.21 | -$1.19 | +$1.40 | +$1.80 | +$1.76 | +$4.57 |
February commentary
2009-10 FlexPro
The FlexPro prices reflect the prices available for CWB sales activity for the remainder of the shipment window for 2009-2010 crop year deliveries. The FlexPro is not impacted by the price levels of previous CWB sales. As a result, the FlexPro will be more volatile than an FPC. The FlexPro for CWRS increased by $1.50 per tonne to $223.56. The FlexPro rose because of an increase in prices in those markets and shipping periods where the remainder of the 2009-10 crop is expected to be sold.
2009-10 FlexPro - Monthly Changes
|
CWRS |
CWHW |
CWES |
CWRW |
CPSR |
CPSW |
CWSWS |
28-Jan |
$221.14 |
$221.14 |
$191.14 |
$164.01 |
$170.01 |
$178.01 |
$147.83 |
25-Feb |
$223.56 |
$223.56 |
$193.56 |
$164.64 |
$171.64 |
$170.64 |
$151.60 |
Change |
+$1.50 |
+$1.50 |
-$1.50 |
+$1.76 |
+$3.76 |
+$2.76 |
+$3.92 |
Basis Commentary
The basis level available on BPC contracts will be impacted by the correlation between the FlexPro, the particular futures market and maturity of the basis contract. For classes where there is a weaker correlation, the basis will be more volatile. Over the past month, the Minneapolis July 2010 basis for CWRS was lower by just over one cent a tonne.
The basis can be derived from the FlexPro by using the following formula:
Basis = FlexPro - Futures
During periods when FPC prices are available the basis price can also be derived using the formula :
Basis = FPC - Futures – Adjustment factor.
Note: The adjustment factor represents the impact of pricing activity that has been completed to date.
2009-10 BPC July Basis - Monthly Changes
|
CWRS |
CWHW |
CWES |
CWRW |
CPSR |
CPSW |
CWSWS |
28-Jan |
+$13.29 |
+$13.29 |
-$16.71 |
-$38.66 |
-$32.66 |
-$34.66 |
-$52.69 |
25-Feb |
+$15.83 |
+$15.83 |
-$14.17 |
-$37.51 |
-$29.51 |
-$32.51 |
-$50.74 |
Change |
+$2.54 |
+$2.54 |
+$2.54 |
+$1.15 |
+$3.15 |
+$2.15 |
+$1.94 |
