The durum market continued to hang on to some pretty strong prices and seemed to be in a holding pattern at the end of October. According to the recent International Grains Council (IGC) estimates, the world durum crop is currently pegged at 1.2 billion bushels. Production increases in the European Union accounted for a 294 MB crop this year compared to a 264 MB crop a year ago. As to be expected with U.S. durum prices as much as $2 to even $3 above the world market, the current export pace for the U.S. is very slow. Even though spring wheat is at some very strong prices, it’s still cheaper than durum values.

Source: The North Africa Journal November 01, 2021 01:13 UTC