# Basis Weakness Weighs on Saskatchewan Cash Markets

> Saskatchewan average cash price for No. 1 CWRS wheat dipped $1.44 per tonne for the week ending January 22, the first drop in seven weeks. Canola cash bids fell $2.04 per tonne while the March futures rose, widening the cash basis.

- Date: 2020-01-23 · published 2020-01-23T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/8055-basis-weakness-weighs-on-saskatchewan-cash-markets
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Weakening cash basis for wheat and canola signals softer Prairie cash demand despite a stronger Canadian dollar, which is bearish for local cash values even as futures hold up.

## Read by commodity

- WHEAT: bearish ▼
- USDCAD: neutral
- CANMEAL: bearish ▼

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/blogs/canada-markets/blog-post/2020/01/23/basis-weakness-weighs-saskatchewan

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.