PDQ, the Alberta Wheat Commissions cash wheat tracking platform, shows 1CWAD13 durum values out of SE Saskatchewan were again higher yesterday. The December slot is now bid on average about C$731.20 per tonne ex farm, up another C$17.30 for the day.
About 22% of the Canadian durum crop is now harvested. The header confirming expectations of poor yields. Further south in the US spring wheat belt durum harvest is progressing a little quicker with 30%+ now in the bin. Producers confirm poor yields but quality remains good. US production is expected to be 940kt a 50% reduction year on year. In true drought fashion it has now started to rain.
The Stats Canada crop update is due out at the end of the month and will give us a very good idea on Canadian durum and wheat production. In Canada traders are bidding strongly for durum with #3CWAD, a lower grade, finding bids into the C$700’s now. Canadian bulk exports of durum are above the pace for the same time last year. A combination of an earlier harvest and increased demand see’s marketing year to date volume at 230kt vs 183kt last year, it’s week 2 of their marketing year.

Dark northern spring wheat out of the US Pacific North West was a little higher overnight. December loading bid at an average bushel price of about US$10.49 for 14%. On the back of an envelope using Japan as a consumer base this is roughly equating to a Aussie port price equivalent to AUD$510. Looking at milling wheat out of the Black Sea and using Iraq as a home the price is more comparable to our current bids for new crop. For instance 12.5% wheat from Russia converts to about AUD$380 port Newcastle equivalent, we are bid AUD$350 for H2.