According to Twitter, Algeria and Tunisia are tendering Durum this week.
We have followed tenders for the past year, and they seem to lead to lower prices.
Our experience tells us the charts foreshadow the results of the tender.
As we like to say, News Follows Price.
Of course, broad statements suggesting tenders lead to lower prices are irresponsible.
Anyway, the next couple of days will tell the tale.
Our Aug 20 analysis suggested a slowdown or pullback in the US DURUM Index, which is currently measures 93 cents:
US DURUM INDEX WEEKLY
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