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Wheat Letter – October 19, 2017

Wheat Letter – October 19, 2017

October 19, 2017


USDA Projects Shifting Supplies of Wheat, Location Will Likely Impact Quality and Availability

By Stephanie Bryant-Erdmann, USW Market Analyst

USDA expects a lower world wheat production in 2017/18 of 751 million metric tons (MMT) (27.6 billion bushels), down slightly from the record high 754 MMT (27.7 billion bushels) in 2016/17 but 5 percent above the 5-year average. If realized, it would be the first production decline since 2012/13. While world wheat production is projected to decline year over year, USDA expects slightly higher total consumption in 2017/18 at 740 MMT (27.2 billion bushels), compared to the 5-year average of 705 MMT (25.9 billion bushels). With production expected to decline and consumption forecast to rise, availability of global wheat supplies is largely dependent on location and whether or not that country is an importer, exporter or China. Read the full article here.


Shifting Destinations of U.S. Wheat Export

By Stephanie Bryant-Erdmann, USW Market Analyst

Over the past twenty years, roughly 10 MMT of U.S. wheat exports have shifted from price sensitive markets to quality-driven markets. Consumption in quality-driven markets in Southeast Asia and Latin America increased an average 2 percent annually over the past ten years, according to USDA. Read the full article here.


Overseas Customers Benefit from Continued Education Opportunities

By Erica Oakley, USW Director of Programs

Each year, USW sponsors overseas customers to travel to the United States as members of a trade delegation or to attend a short course, with more than 100 customers participating each year. Read the full article here.

2017 Grain Procurement Management for            2017 Korean                                2017 Introduction to Flour

Importers Course at the Northern                    Contracting Wheat Values             Milling course at the IGP

Crops Institute.                                                   Workshop Korea at the                      Institute.

Wheat Marketing Center


Observing Pacific Northwest Wheat Quality Effort Build Future Opportunity

By Steve Mercer, Vice President of Communications

Even though Japan has imported more than half of its annual milling wheat needs from the United States for many decades, the market requires constant attention in an increasingly competitive world wheat trade environment. U.S. wheat farmers are doing that in part by building relationships with future senior managers in Japan’s milling industry. Read the full article here.

The 2017 Japanense Mid-Level                    The 2017 Japanense Mid-Level               The 2017 Japanese Mid-Level Managers

Managers Trade Delegation                      Managers Trade Delegation visits with           participate in a mini FGIS grain grading

visits the Washington Grain                    wheat breeders at Washington                                 workshop with Portland Field Office

Commission. Pictured here with USW                   State University.                                       Quality Assurance Specialist Manager, Kim Harper.

Country Director Waturu “Charlie”

Utsunomiya and WGC CEO Glen

Squires.


USW Reviews Crop Quality for the 2017/18 Hard Red Spring, Soft White and Durum Crops

USW and its partner organizations have completed the crop quality analysis of the 2017/18 U.S. hard red spring (HRS), soft white (SW) and durum crops. The final data is summarized below. The complete analyses will appear in class-specific reports and USW’s 2017 Crop Quality Booklet, and shared with hundreds of customers around the world as part of USW’s annual Crop Quality Seminars. Read the full article here.

 

 

Source: U.S. Wheat Associates