Durum wheat prices headed slightly lower this month, due to a larger than expected 2018/19 durum crop and thus, a more bearish Canadian carryout.
Durum prices for delivery into Saskatchewan elevators closed the month of July at an average of $6.75 CAD per bushel, a decrease of 1.2% month-over-month.
For our GrainCents readers, we’re watching a variety of factors that might affect durum prices: 2 are bearish, 3 are bullish, and 2 are noise.
(If you’re not familiar with what “noise” is, then we recommend you check out our GrainCents risk management process towards durum wheat prices.)
This month, GrainCents investigated topics such as:
- The outlook for durum wheat prices during the rest of 2018;
- The USDA reported increased durum production in the latest WASDE;
- A bumper durum crop in Spain – and what it means for domestic prices;
- Is this bullish factor the only hope left for 2018 durum prices?
With the weather and fallout from a global trade war creating volatile markets, it’s more important than ever to stay on top of the factors affecting durum prices. Capture market premiums with GrainCent’s sales recommendations and actionable cash grain marketing advice delivered directly to your inbox.
Especially worthwhile in your GrainCents subscription is the Durum Weekly Digest, which gets sent out every Sunday morning. In addition to recapping our cash grain sales position, this chart-fueled read provides an insightful recap of the previous week’s activity in durum markets. We also walk through, in detail, what we’re watching across the global market in the week(s) ahead that could influence durum prices.
Start making more sense of what’s affecting durum prices with a free three-week trial to GrainCents, our exclusive sales recommendation service that holds a 93% success rate on getting farmers the best price possible.