June 2018 Durum Prices Recap

Durum prices in the month of June were relatively steady, losing just 1% month-over-month. But this has basically been the story for durum prices over the course of the last few months (and some would argue, the past year).

Durum Prices Recap

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 (AKA the headlines that you keep seeing but actually don’t weigh on durum prices really all that much).

While there is some dry conditions in southwestern corner of Saskatchewan, durum crops elsewhere are looking okay. This includes Europe, the Black Sea, and Northern Africa, the last region of which tends to be a major importer of durum.

Canadian durum prices have been especially weighed down by Italy no longer buying from the Great White North. Might this change in the second half of 2018?

Thus, many durum buyers are looking for supply more hand-to-mouth and not aggressively looking to pay up for quality. 

This month, for GrainCents readers, we delved deeper into topics such as:

 – Kazakhstan’s growing presence in the global durum market

 – The June WASDE showed a decrease in US durum exports

 – Stats Canada’s estimates for durum acres in 2018/19

 – The USDA’s estimates for durum acres in 2018/19

Heading into the second half of the year, buyers and sellers of durum need actionable insight to make sense of ongoing trade tensions, supply and demand factors, and market behavior. We expect to see some volatility in durum prices as the summer months progress, and you owe it to yourself to stay on top of the markets.

That’s why we’re offering 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.

Sign up right here for your risk-free trial.

About the Author
Brennan Turner

Brennan Turner is the CEO of FarmLead.com, North America’s Grain Marketplace. He holds a degree in economics from Yale University and spent time on Wall Street in commodity trade and analysis before starting FarmLead. In 2017, Brennan was named to Fast Company’s List of Most Creative People in Business and, in 2018, a Henry Crown Fellow. He is originally from Foam Lake, Saskatchewan where his family started farming the land nearly 100 years ago (and still do to this day!). Brennan's unique grain markets analysis can be found in everything from small-town print newspapers to large media outlets such as Bloomberg and Reuters.

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