WINNIPEG (Staff) – The Winnipeg Commodity Exchange is considering looking more closely at a futures contract for durum wheat.
John DePape, director of product development, said Canadian Wheat Board representatives have suggested a durum contract might be a useful tool for risk management and price discovery.
The world durum market is small and fairly concentrated, DePape said, and the wheat board controls more than 60 percent of global trade. No commodity exchange in the world lists a futures contract for the crop.
He has since talked to wheat growers, durum growers in the United States, and other industry participants about the idea.
So far, he said prospects seem encouraging.