Here are a few market outlook tidbits from Crop Production Week. Bruce Burnett, the director of weather and market analysis for the Canadian Wheat Board says durum is about to reestablish its traditional premium over spring wheat. Durum has been at a discount the past couple years. Burnett says that over the next two to three months, durum is expected to move higher than spring wheat. He’s actually quite positive about the durum outlook for the coming year. The CWB’s first new crop Pool Return Outlook will come out near the end of February. Burnett says there’s a shortage of malting barley due to quality problems here in Western Canada and in Australia. You’d think malting companies would be offering attractive new crop malting barley prices through the Cash Plus program in order to assure a supply. For whatever reason, there hasn’t been much available, at least not yet. One commodity that did see significant price movement last week is canaryseed. Old crop prices are now being quoted as high as 30 cents a pound and there are some new crop contracts available at 24 cents.
I’m Kevin Hursh.
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