Economist Describes Wheat Outlook as Bright
Southwest Farm Press – 12/3/2018
Increased moisture, particularly on the South Plains, along with production possibilities and a “good fit” in crop rotations, makes for a positive outlook for wheat, according to a Texas A&M AgriLife Extension economist at the Texas Wheat Symposium in Amarillo. “Wheat is such a good fit in so many places, not only in Texas but around the Southern Plains,” says Dr. Mark Welch. “We’ve lost wheat acres to corn and soybeans but now we’ve seen some higher wheat prices in the last couple of years, perhaps turning the corner on prices, and with the production prospects — wheat just seems to fit.”
Winter to Keep Russian Grain Exports Safe From Ukraine Tensions For Now
Successful Farming – 12/5/2018
Grain trade from Russia’s ports on the Azov Sea will slow sharply as winter freezes the bulk of port operations, leaving the Black Sea as its main shipment route and easing the potential impact of any export curbs that could hit the region amid Russia-Ukraine tensions. Should tensions between Moscow and Kiev mount in future, leading to new incidents in the Kerch Strait, some shipowners could refuse to do business in the Azov Sea, traders said.
Russia’s Winter Grain Sowings In Worse Condition Y/Y – Weather Forcaster
Successful Farming – 12/4/2018
Russia’s winter grain sowings are in a worse condition than at the same time a year ago and compared with the average for the last five years, an official at the Hydrometcentre weather forecasting service said on Tuesday. Russia and Ukraine, major global wheat exporters via the Black and Azov seas, started sowing winter grains for the 2019 crop this autumn amid dry weather but subsequent rains improved the prospects for next year’s harvest.
Trade War Has Cost Nebraska Agriculture Up to $1 Billion
Nebraska Radio Network – 12/4/2018
The trade war has hit Nebraska agriculture hard. An economic report released by the Nebraska Farm Bureau claims the state’s farmers and livestock producers have lost anywhere from $700 million to $1 billion as retaliatory tariffs have dropped commodity prices, especially for corn and soybeans. Nebraska Farm Bureau Senior Economist Jay Rempe says the loss in farm income has a ripple effect throughout the state economy.
Tariff Tensions Shadow U.S., Canada, Mexico Trade Pact Signing
High Plains Journal – 12/5/2018
President Donald Trump signed a revised North American trade pact with the leaders of Canada and Mexico Nov. 30, declaring the deal a major victory for workers. But tensions over tariffs, looming GM layoffs and questions about the pact’s prospects in Congress clouded the celebratory moment. The U.S.-Mexico-Canada Agreement is meant to replace the 24-year-old North American Free Trade Agreement, which Trump has long denigrated as a “disaster.” The leaders signed the new deal on the sidelines of the Group of 20 summit in Buenos Aires after two years of frequently blistering negotiations. Each country’s legislature still must approve.
USDA Announces 2019 Trade Missions to Expand Export Opportunities
Oklahoma Farm Report – 12/5/2018
The U.S. Department of Agriculture (USDA) will sponsor seven trade missions in 2019 to expand export opportunities for U.S. agriculture across the globe, Under Secretary for Trade and Foreign Agricultural Affairs Ted McKinney announced today. “Agricultural trade missions offer phenomenal opportunities for U.S. exporters to explore new markets and forge relationships with potential customers,” McKinney said. “The marketing and trade experts from USDA’s Foreign Agricultural Service carefully select markets – both developing and established – that offer the best prospects for sales of U.S. farm and food products. We’ve got seven such markets, on five continents, lined up for 2019.
Source: U.S. Wheat Associates