Durum prices in the month didn’t move much as the demand-supply structure remained relatively neutral.
Average durum prices in Saskatchewan drifted higher by about 10 cents since April to closer to $7 month CAD per bushel (or $5.35 US per bushel). In contrast, durum prices in Montana held steady, hovering around $ 5.50 USD per bushel (or $7.10 CAD per bushel).
On the Canadian crop movement front, marketing-year-to-date Canadian durum exports are technically behind last year’s pace.
The GrainCents Weekly Durum Digest reported that world durum supplies are expected to be heavy going forward.
Also discussed for our Durum GrainCents readers:
- An estimate on the size of the 2018/19 US durum crop;
- Where durum prices could go if there’s a drought this year;
- The loss of the Italian durum market to other major competitors;
- The rising demand for Canadian durum in Africa; and
- Incentives for locally sourced wheat in Morocco
And of course, we reported on the dry weather conditions across Western Canada.
Be sure to sign up for your free 3-week trial at GrainCents as this month could be the most impactful for how and when you price your durum wheat for the rest of 2017/18 old crop, as well as a significant portion of your 2018/19 new crop production.