Articles of Interest- Friday, January 11, 2019
January 11, 2019
Pacific Trade Deal Spurs Canadian Farm Sales to Japan as U.S. Watches
Reuters – 01/10/2019
CPTPP’s real prize, Canadian exporters say, are reduced Japanese tariffs for beef, pork, wheat and canola oil. Japan is the world’s third-largest beef importer and seventh-largest wheat buyer, often buying top-quality supplies to meet consumer demand for soft, white breads and beef raised on grain not grass.Body Text.
Russian Wheat Prices Set to Reach New Highs on Prompt Supply Crunch
S&P Global – 01/10/2019
Russian wheat prices are on course to hit new highs amid thin prompt supply, market sources said Thursday. A lack of wheat for spot or January shipments was driving the price increase as demand slowly returns to the market. Wheat at port silos for January-loading windows was “mostly committed”, while spare capacity was low, one source said.
Traders Watch for Next Spark
Inside Futures – 01/11/2019
Grain markets continue to want to see confirmation of new demand from world buyers (most of all China). Absent overnight/weekly export sales from the USDA, trade rumors from exporters, or a firm commitment from the Chinese would spark the market. The USDA shutdown continues which means the regularly scheduled January 11 Crop Production, Grain Stocks, Supply & Demand, and Winter Wheat Seedings reports will not be released today.
Farmers See Lack of Data, Loan Access as Another Layer of Uncertainty
The Progressive Farmer– 01/09/2019
Now, the shutdown is affecting access to trade aid set aside specifically for these export groups. Funding for regular trade programs is tied up with the shutdown as well. “If the shutdown continues for very long, it will start to have an impact on our overseas marketing/promotion activities, and it is already delaying us getting started in earnest with our 2019 programs using FMD/MAP funding,” Sutter told DTN.
Three Big Things Today: Wheat Higher in Overnight Trading, Top-Level Chinese Official Set to Visit Washington
Successful Farming – 01/11/2019
Wheat futures were higher in early trading on reports that Russia is running out of exportable wheat. Consultancy Ukragroconsult said there are signs that the country is running low on supplies including increased tender prices in recent months.
Source: U.S. Wheat Associates