Durum always gets my attention.
A niche crop suitable for the southern Canadian prairies.
I write about it often.
In past weeks, I have discussed Price Seasonality and the Durum - Hard Red Spring Wheat Ratio.
Here is a summary of my ideas.
My last Sell Signal at $15.25 for both old and new crop was published in my June 24 Durum Wheat Alert.
Excerpts from the June 24 Durum Wheat Alert are below:
Today, my CWAD Wheat price index closed the day at $15.25, triggering my Sell Signal.
If this price level does not hold, my next target is 13.50.
If 13.50 does not hold, my next target is 11.67.
Summary:
The Daily and Weekly Sell Signals triggered.
What does this mean for the new crop?
Today’s price action tells me to begin pricing the new crop.
My October 2022 index price was $15.14, which is 34% above the current price.
The price declined quickly, blowing through 13.50 before spending three weeks just above 11.67.
My July 25 Update discussed the following:
Keep reading with a 7-day free trial
Subscribe to Klarenbach Grain Report to keep reading this post and get 7 days of free access to the full post archives.