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Midwest Wheat Farmers Hope Pasta resurgence Will Life Durum Sales

December 25, 2018: 12:00 AM EST
Farmers in the Midwest whose livelihood depends on the health of the durum wheat market are hoping for a better year in 2019, thanks to a possible resurgence in the pasta market. Prices have been mostly flat in 2018, but may have finally bottomed out. Some observers expect prices to rise for producers. A year ago in mid-December local cash prices were at $6.25 so there's been a marked sell-off from there down to the $4.50 to $4.75 range. Price problems stem from the world supply and demand balance for durum. Larger domestic crops in North Africa, for example, have tempered demand for the early months of this export year. And there are some new players in the world durum export market, in particular Kazakhstan, which was exporting probably 5-6 million bushels of durum a year in 2015; this year they are projected to hit 25 million bushels in export sales.  On A brighter note, U.S. durum export sales are still 50 percent ahead of last year with current sales totaling 15 million bushels compared to 10 million a year ago.[Image Credit: © Christine DAUTIN from Pixabay]
"Pasta resurgence needed in 2019 to help durum market", Farm & Ranch Guide (Bismarck, ND), December 25, 2018, © NewsChamber
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