We have been bearish Durum since January 2020, when our Sell Signals for that crop year triggered.
We have not been Bullish since.
Our 2022-23 crop year strategy had the following Sell Signals trigger:
$15.14 2022-23 New-crop
$13.48 Take-Profit Price Target
$13.40 Bearish Sell Signal
Today’s Index price is $10.95
To date, our 2022-23 Strategy has outperformed the equal monthly sales strategy by 9%.
The outperformance in the 2021-22 crop year was 15%.
Our Durum Wheat price index currently has new crop prices below $10.
We discussed $10.00 per bushel in our February 7, 2020, newsletter with the following comment:
Note that previous highs, in the case of $10/bu, are often, not always retested by price to act as support.
Will the spot price drop to $10?
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