Cash prices for spring wheat and durum across SE Saskatchewan rallied again overnight. Spring wheat was a little more subdued than durum only increasing the average cash bid by C$3.11 to C$372.13 per tonne for a December pick up ex farm.
1CWAD13 durum was up C$19.57 per tonne for a December lift, the average price pencilled in at C$557.73 per tonne ex farm.
On the back of an envelope we see this price convert roughly to about AUD$680/tonne NTP NTL.
The Canadian price is high, as a balance we need to look at somewhere else like France as a comparison as well. The French port of La Nouvelle on the Mediterranean is pricing durum on the low side at roughly E330 per tonne delivered port for 12%. This could end up in Italy for somewhere around US$400 delivered. So on the back of an envelope probably comparable to about AUD$420 delivered port. Currently we see new crop 13% bid at AUD$463 del Newcastle. There are also plenty of French durum offers higher than E330, some E30 – E40 higher. One gets the feeling the DR1 market may take another month or two to sort itself out.
Maybe the true indicator will be the value Morocco has to pay for their latest tender for 364kt US durum. The tender closes on the 24th and is for delivery in December.

Tunisia was said to have picked up 100kt of feed barley in a tender that closed late last week. Values were said to range from US$297.98 to US$292.97 per tonne CnF. This might come in around US$20-30 lower than what Aussie barley is currently working for into Asia.