DOW JONES NEWSWIRES


  WINNIPEG (Dow Jones)--The Canadian Wheat Board has raised its price
projections for wheat that will be delivered by producers during the 2008-09
crop year, which ends July 31, 2009, from its February outlook.

  The pool return outlook for durum was both raised and lowered. The PRO for
feed barley was lowered from the February outlook, while the price for malting
barley was left unchanged.

  In its commentary for wheat, the CWB said U.S. wheat futures have remained
extremely volatile on a day-to-day basis. Throughout the month, futures values
showed some strengthening, but in the past few days those gains have been lost.
International values, however, were pressured over the past month due to
continued exports from the EU and Black Sea region.

  As the size of the unsold portion of the pool decreases, current price
changes will have less significance for the PRO, the CWB said.

  The PROs for durum ranged from up 2 Canadian dollars per metric ton to down
C$3.

  International durum prices have dropped substantially in the past month, the
CWB said. High durum prices have rationed some demand as millers add lower-cost
spring wheat into their mix.

  During the past month, while wheat prices have remained relatively stable,
the premium for durum wheat has narrowed significantly. Mexican new-crop durum
is now being offered into the export market at volumes greater than expected
earlier, which has added pressure to durum prices this month, the CWB said.

  The malting barley PRO was unchanged in March from the February outlook,
while the Pool B feed barley PRO price dropped by C$3.

  The CWB said global malting barley prices weakened during the past month, as
large supplies outweighed demand. However, at this stage in the marketing year,
the pool is well sold, and the impact of market price declines on the old-crop
PRO is moderate.

  Global feed barley prices moved lower recently, the CWB said. Large supplies
of barley, feed wheat and corn, combined with weakening livestock demand, have
put pressure on feed grain prices. Uncertainty about available Argentine corn
supplies has provided some support to the feed grain complex.


  The following are the Canadian Wheat Board's Pool Return Outlooks detailing
estimated payments to farmers for grain delivered during the 2008-09
(August-July) crop year, in Canadian dollars per metric ton, basis in store St.
Lawrence/Vancouver.

  Source: Canadian Wheat Board.

                                       2008/09    2008/09
                                       PRO        PRO
                                       March      February
Wheat--
   1 Canada western red spring 14.5%   326.00     325.00
   1 Canada western red spring 13.5%   308.00     307.00
   1 Canada western red spring 12.5%   298.00     297.00
   1 Canada western red spring 11.5%   288.00     287.00
   2 Canada western red spring 13.5%   298.00     297.00
   2 Canada western red spring 11.5%   279.00     278.00
   3 Canada western red spring 13.0%   283.00     282.00
   3 Canada western red spring         266.00     266.00
   4 Canada western red spring         254.00     254.00
   1 Canada western HW 13.5%           308.00     307.00
   1 Canada prairie spring red         259.00     258.00
   1 Canada prairie spring white       259.00     258.00
   1 Canada western red winter 11.5%   269.00     268.00
   1 Canada western red winter         249.00     248.00
   1 Canada western extra strong       278.00     277.00
   1 CWSWS Select 9.9%                 256.00     255.00
   1 CW soft white spring              228.00     227.00
   CW Feed                             196.00     196.00
Durum--
   1 CW amber durum 14.5%              372.00     371.00
   1 CW amber durum 13.0%              362.00     360.00
   1 CW amber durum 12.5%              359.00     357.00
   1 CW amber durum 11.5%              356.00     354.00
   2 CW amber durum 13.0%              344.00     347.00
   2 CW amber durum 11.5%              339.00     342.00
   3 CW amber durum 13.0%              329.00     332.00
   3 CW amber durum                    322.00     325.00
   4 CW amber durum                    296.00     301.00
   5 CW amber durum                    196.00     196.00
Barley--
   1 CW barley Pool B                  166.00     169.00
   Select 2-Row CW                     320.00     320.00
   Select 6-Row CW                     300.00     300.00