Durum Exports Show No Sign of Slowing

During the past five years, an average of 80% of crop year exports have been achieved as of the Canadian Grain Commission’s week 42 report of licensed exports. Projecting this pace forward points to exports of 6.5 mmt, an increase from the current forecast that would drive stocks to zero based on current estimates.

Based on current government estimates, 76% of available supplies (2019-20 July 31 farm stocks plus 2020 estimated production) has been delivered into licensed facilities as of week 42, up from 68% in the same period in 2019-20 and the three-year average of 58%.

According to pdqinfo data for the southern Prairies, durum prices (No. 1 CWAD 13%) increased from $1.50 to $3.30/mt so far this week as of May 27 to range from $302.61 to $309.75/bu, down from crop year highs of $312/mt to $320/mt reached across these three regions in previous months.

Cliff Jamieson can be reached at cliff.jamieson@dtn.com

Follow him on Twitter @Cliff Jamieson

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