By Top Crop Manager
Sept. 8, 2015 - The Alberta Wheat Commission (AWC) has launched the first phase of its web-based Crop Data and Price Reporting initiative. Price & Data Quotes (PDQ) aims to be a complete and unbiased resource for cash market prices and crop data to provide reliable and relevant price information to farmers.
The PDQ service will improve farmers' ability to make well-informed marketing decisions and to maximize the value of their crops.
As the basis for this service, member companies of the Western Grain Elevator Association (WGEA), at their election, will provide price information (elevator bids) for five commodities at all country locations. Information includes daily spot and forward bid prices for red spring wheat, prairie spring wheat, durum, canola and peas.
The PDQ service compiles pricing information on its website, www.pdqinfo.ca, into regional price averages across nine zones covering Western Canada. Additionally, the site provides futures market closing prices, average wheat grade and protein spreads, local weather and foreign exchange rates.
Future versions of PDQ will include customizable functionality and charting capabilities and AWC will endeavour to add other commodities. Additionally, current basis information will be linked to futures market prices. The site will not report final transaction prices, and will not replace the interaction between farmers and their local elevators or farm market advisors, but will provide easily accessible and reliable market trends and indicators.
"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," said Tom Steve, AWC general manager in a news release. "A good segment of the industry is represented."