Articles of Interest – Thursday, November 8, 2018
November 8, 2018
Canadian Wheat Exports Up Over Last Year
Swift Current – 11/7/2018
The Saskatchewan Wheat Development Commission, Wheat Market Outlook shows what’s happening with Canadian Wheat exports. Mercantile Consulting Venture Inc’s latest Wheat Market Outlook shows Canadian wheat exports are 861 thousand metric tonnes or 23% more this year than this time last year. The report shows there are another 2.7 million metric tonnes of wheat sitting in the handling system. About 1.2 million metric tonnes of wheat is sitting or stored in primary elevators. 1.4 million metric tonnes is sitting at the port in export position and 141 thousand metric tonnes is on rail moving to port.
Russian Ministry of Agriculture Raises Wheat Exports Forecast: Report
S&P Global – 11/8/2018
The ministry of agriculture of the Russian Federation raised its wheat export forecast for this marketing year to 34-35 million mt Wednesday from 33-34 million mt, according to a report by Interfax. The adjusted forecast follows a press conference with first deputy minister of agriculture Dzhambulat Hatuov in Novosibirsk, who said that the ministry expects 38-39 million mt of grains exports this marketing year with 34-35 million mt being wheat.
World Wheat Production Forecast Drops
KTIC – 11/8/2018
As the international price of wheat firms up, global supply and demand balance is going to tighten in 2018-2019. That forecast comes from the Food Outlook, a biannual report published by the Food and Agricultural Organization of the United Nations. The global wheat production forecast is set to drop by 4.3 percent from the record level of last year. Total production is now predicted to add up to 727.9 million tons. Australia, China, the Russian Federation, and the EU are the primary causes of the year-over-year contraction.
Another Good Week for Wheat Exports
Brownfield Ag News – 11/8/2018
The USDA says wheat export sales for the week ending November 1st topped most pre-report estimates, the third week in a row with generally larger than expected sales. Physical shipments of corn remain ahead of the USDA’s anticipated pace for the 2018/19 marketing year. Wheat came out at 661,200 tons (24.3 million bushels), up 14% from the week ending October 25th and 47% higher than the four-week average. The Philippines purchased 306,100 tons and Indonesia bought 130,000 tons, but unknown destinations canceled on 270,600 tons. At this point in the 2018/19 marketing year, wheat sales are 505.8 million bushels, compared to 598.6 million in 2017/18.
Farm Groups Urge Quick Response to Farm Bill in Lame Duck Session
Successful Farming – 11/6/2018
Farm organizations are hoping that a change in the Washington power structure will encourage the current Congress to move quickly to pass a farm bill in a lame duck session. They also pledge to work with new members of Congress when they are seated in January and hope for a more bi-partisan atmosphere. Some suggest that the U.S. House of Representatives switching to Democrat control following the midterm elections could encourage Congress to make necessary compromises to pass a farm bill rather than risk starting over in 2019.
Texas Tech Student Receives Wheat Scholarship
Brownfield Ag News – 11/7/2018
The 2018 National Wheat Association/ U.S. Wheat Associates Scholarship was awarded to Matthew Winterholler, a senior agricultural communications major at Texas Tech University, during the National Association of Farm Broadcasting Convention.
Source: U.S. Wheat Associates