Despite an increase in North American durum production, durum prices are expected to remain stable. “I guess we’ll see what happens as we progress throughout the year. Worldwide, production is expected to ratchet back a bit. World inventories are also tight. North Africa is looking at a smaller crop, too,” said Jim Peterson, policy and marketing director, North Dakota Wheat Commission. “There are some variables pointing in the favor of durum, but as every producer knows, the weather from now until we get the crop in the bin can impact prices.” North Dakota’s durum crop looked tough until the end of June, then the rains came. “We are certainly seeing benefits from the recent rains, but an increased diseased threat is becoming a concern.” Peterson also noted a surprise for durum stocks in the July USDA report. This impacts price as well. “USDA revised their stocks projection and found 43 million bushels. That probably took some wind out of some prices, but we’ll see which numbers are correct as the year progresses. I think our inventories are lower than that.”
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