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CWB Lowers Projected Wheat, Barley Returns
WINNIPEG - Dec 18/08 - SNS -- The Canadian Wheat Board (CWB) reduced forecast returns for all classes of wheat and barley it will market during the 2008-09 marketing year.
It latest Pool Return Outlook (PRO) reflected the negative impact of world grain markets on grower returns. "Currency volatility is injecting tremendous uncertainty into grain prices," the monopoly marketing agency added, "including the CWB PRO."
Most wheat PROs have dropped between CDN $2 and $15 per metric ton (MT), depending on grade, compared to the November PRO. Durum PROs are down $4 to $6 MT, designated barley has declined by $4 MT, while Pool A feed barley is down $3 MT. The first PRO for Pool B feed barley has also been released today.
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