The long awaited opening of the wheat contract on the Winnipeg exchange is set to commence on January 23. While growers, elevators, brokers, crop marketers, and risk management experts are watching the market closely, it will be interesting to see the volume that gets traded, specifically on the durum contract. At present, the durum contract on the Minneapolis exchange has very little volume traded. So how will the one on Winnipeg be different?
Time will tell but one thing that is for sure there is pent up demand to have a choice when it comes to marketing wheat in Canada. Market analysts at Decisive Farming are currently tracking wheat prices and basis in some of the Northern states as well as Canada and will be reporting any significant changes to our Know-Risk clients.