Railcars are moving again through the Rocky Mountains following the historic storm mid-November.
However, there are some worries if the new rains on maps over the weekend and the big precipitation expected today will cause additional damage.
Rail disruptions had put pressure on SK basis levels for now.
Its believe that long term impacts can be avoided unless there are further disruptions to the rail movement west.
Meantime, wheat prices in Canada continued to rise over the past week.
Particularly, as for durumwheat, bids in St. Lawrence rose by Cnd11.5/mt to ~C$875/mt.
Durum street prices Rosetown, continued to quote at $716.88, unchanged from past week, but export basis rose at CAD $145.07, up $4.98 from $140.09/mt of previus week.
Thus, Prairie wheat values, continue to be strong, and the outlook remains largely unchanged.
Meantime, in shipping week 16, Canadian spring wheat exports were 190.9k mt for a season total of 3.922 million mt.
This is just 61% (-681.6 million mt) of last year’s export number.
Visible supplies rose slightly to 2.76 million mt.
Visible stocks continue to be large versus other years.
For comparison, visible supplies in week 16 of last year (when total supply was 30% larger) was 2.22 million mt.
Stocks in Vancouver fell to 75.2k mt over the week, while stocks in Prince Rupert rose to 124.6k mt.
As for durum wheat, week 16 Canadian exports were 50.7k mt for a season total of 1 million mt.
This is 61% (-682k mt) of last year’s volume.
Total visible supplies rose to 733.8k mt.
Stocks on the west coast fell to just 37.7k mt, but there are 322.7k mt sitting in eastern ports ready for export to Europe/ N Africa.
To date, 64% of all 2021/22 Canadian durum shipments have been exported from eastern ports.
