Alberta Wheat Commission launches web-based pricing site
(Calgary, Alberta) – The Alberta Wheat Commission (AWC) is pleased to announce the launch of 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.
"AWC is extremely pleased to launch PDQ, made possible by our collaboration with the major grain companies," said Tom Steve, AWC General Manager. "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."
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 Steve. "A good segment of the industry is represented."
Wade Sobkowich, Executive Director of the Western Grain Elevator Association, adds "The members of WGEA compete for farmers’ grain, and have a long history of price transparency with their customers through daily e-mails, texts and online prices. In combination with existing purchasing discussions farmers currently have with their local elevators, PDQ is another way they can access more general market trend information."
The AWC price and data project was announced on January 28, 2015. http://www.albertawheat.com/alberta-wheat-commission-launches-project-aimed-at-improving-market-transparency-and-efficiency/.
For more information on PDQ visit www.pdqinfo.ca
The Alberta Wheat Commission is a producer-directed organization dedicated to improving the long-term profitability of Alberta’s 14,000 wheat producers. www.albertawheat.com
Alberta Wheat Commission
P. 403.219.7906 l C. 403.813.6956