The Canadian Wheat Board briefly bumped up its asking price for durum recently, but still expects to see poor durum prices in the coming crop year.
“There are a few opportunities that we’re taking advantage of right now in the European market,” said wheat board spokesperson Louise Waldman.
“But long term the durum forecast is still bearish.”
On July 4, the wheat board’s asking price for east coast durum was $303.20, but on July 14 the price was raised to $318.25. Crop problems in Europe are the cause of the slight price rise, Waldman said, but soon a bumper crop in Algeria and bigger crops from Canada, the United States and maybe Australia will hit the market and are expected to drive new-crop prices down.
