Minot Milling Durum Update & OutlookNov 15
The 2023 durum crop in the Northern Plains was unfortunately impacted by late harvest rain and snow, which led to quality issues that will undoubtedly send a significant number of bushels into the feed channels. Wet harvest conditions are mostly impacting growers in northwest North Dakota and south-central Canada.
Production for the U.S. came in at 54 million bushels, which was down 16% from last year and 25% below the 5-year average. Canada’s production was down 30% at 149 million bushels and 16% below the 5-year average. Lower production for both the U.S. and Canada was primarily due to continued drought conditions in the durum producing areas. There was concern that the U.S. and Canada’s 2023 low production numbers would again drive ending stocks to record low levels and push global markets higher. Unexpectedly, Turkey harvested a bumper durum crop and has supplemented North America’s shortfall in the export markets, which has helped keep pricing stable.
Even though the 2023 durum crop has presented some challenges for domestic millers, we feel Minot Milling has stayed ahead of the curve and positioned Philadelphia Macaroni Company’s pasta plants well into 2024.