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Prairie durum prices rising as farmers aren't selling

Posted by Flaman Agriculture Jul 17, 2015

CNS is reporting that  . . .

Prices for durum in the Prairie cash market have been on the rise recently, but there are very few actual transactions being made as farmers aren’t selling.

“The companies know that, generally speaking, farmers aren’t in the mood to sell, so they’re probably trying to maybe encourage deliveries of last year’s durum, so trying to get that out of the bins, which might be hard,” said Neil Townsend, director of market research services with CWB in Winnipeg.

Cash prices for durum in Saskatchewan and Alberta gained between $20 and $37 per tonne during the week ended July 10, to range from $310 to $343 per tonne, according to data collected from a number of delivery points in Western Canada.

Some buyers are also looking to lock in some new-crop contracts for high-quality durum, due to poor-quality crops out of Europe and Canada last year.

Farmers, however, are still waiting for the market to move higher as drought continues to plague many growing regions in Alberta and Saskatchewan.

Full story at http://www.agcanada.com/daily/prairie-durum-prices-rising-as-farmers-arent-selling

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Posted in Commodity prices | Tagged with durum wheat crop prices | More articles by Flaman Agriculture

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