The Alberta Wheat Commission has launched the first phase of its crop price reporting website aimed at helping farmers make more-informed marketing decisions.
As of September 8th, the website — known as PDQ, short for “Price and Data Quotes” — is providing daily regional spot and forward bid prices for red spring wheat, prairie spring wheat, durum, canola and peas.
The elevator price information is provided voluntarily by members of the Western Grain Elevator Association.
“AWC is extremely pleased to launch PDQ, made possible by our collaboration with the major grain companies,” said Tom Steve, AWC general manager, in a news release issued Tuesday. “This level of cooperation is encouraging and we look forward to improving the level of price transparency available for farmers and other industry stakeholders via PDQ.”
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In addition to spot and deferred prices, the site also lists average grade and protein spreads. The AWC says it’s looking to add prices for other commodities in the future, as well as “customizable functionality and charting capabilities.”
Some private grain market analysts are concerned the publicly-funded project will interfere with the services they provide. Steve noted “PDQ will not engage in market advisory or analytical services, but it is designed to become the industry standard for cash grain price information across Canada for use by farmers.”
The project was made possible by a $742,725 grant through Agriculture and AgriFood Canada’s (AAFC’s) AgriRisk Initiatives program, which was announced at FarmTech in January.