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Tidbits, Kevin Duling Outlook, Tech Guy, Rain Days Update 7/9/23

Market Comments

Kevin Duling is futures broker and market advisor based in Maupin, Oregon (kdinvestors at We have exchanged market information for years. Roger thinks he has consistently had the best fundamental summation of the wheat market.

Here are some of his comments sent to his clients July 5th.

Since last September, Russia kept saying they had to have demands met or else they wouldn’t extend the grain corridor deal. In the end, they extended.

This time, they aren’t even discussing it. They just say we have no reason to extend it. Again, this could come to the mercy of China and Turkey, which seem to hold weight over Russia. China will need Ukraine corn. They will buy US if they have to, but they would like Ukraine wheat/corn available.

Two years ago, we processed 31 million mts of Ukraine wheat in the system with a decent Russian crop and we had $8 wheat across the board. Last year, we processed 21 million mts of Ukraine wheat, plus a record Russian crop and prices spiked on war threat, then plummeted. At the end of the day, at least on USDA’s demand records, we don’t have a large surplus of wheat in Ukraine.

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