Wheat All About It Podcast Episode 86: U.S. Wheat Associates’ West Coast Outpost Steve Wirsching At Your Service
Washington Grain Commission – 8/14/2018
Steve Wirsching, vice president and director of U.S. Wheat Associates’ Portland office, talks about growing world wheat consumption and U.S. market share in the age of President Trump, among other things. Entitled: “U.S. Wheat Associates’ West Coast Outpost, Steve Wirsching At Your Service”, the longtime employee at the export arm of the American wheat farmer, also addresses Japan’s attitude toward the U.S. joining the TPP, what the improvement in Russian and Ukraine wheat means for U.S. farmers and why a very robust supply chain is Pacific Northwest farmers’ ace in the hole.
Numerous Factors Contribute to Wild Swings in U.S.
World-Grain – 8/14/2018
Wheat futures earlier this month surged above recent highs set in May in Kansas City and Chicago and seemed poised to do so in Minneapolis spring wheat futures. While the rally that erupted in early July has been breathtaking, so, too, was the break in wheat futures from May highs to early-July lows that preceded it. The wild swings in fortune in the wheat market were tied to weather-related shifts in the U.S. and world wheat supply-and-demand outlooks for 2018-19, according to market analysts interviewed by Milling & Baking News, a sister publication of World Grain, on Aug. 6.
Demand Seen Returning to Russian Wheat At $225/mt
S&P Global – 8/15/2018
Deep sea port Russian 12.5% protein wheat market participants expect buyers to return to the market at $225/mt as market prices fall in an attempt to tempt buyers back. Destination demand has slowed considerably in the last few weeks as buyers balked at surging costs, preferring to dip into their stockpiles. Subsequently, more offers have made their way into the market place as sellers struggle to find parcels new homes.
Trade, Tariffs Top Kansas Farmers’ 2018 Farm Bill Concerns
Nebraska Farmer – 8/16/2018
As the fallout from President Donald Trump’s trade wars with China, Canada, Mexico and the EU continue to escalate, Rep. Roger Marshall, R-Kan., said that trade issues were at the top of the list of concerns he heard from Kansas farmers during the August recess. “You would expect that with a new farm bill in conference committee, that would be the first thing people asked about, but this year it’s trade and tariffs that are getting the most attention,” Marshall said following an Aug. 6 event in Great Bend.
Wheat Harvest Starts, Yields Could Be Record-Setting
KFYRTV – 8/15/2018
The wheat harvest has started and it could be a record year for North Dakota farmers. Rain in June, the heat in July and warm weather recently are contributing to a great yield. It’s allowing farmers to get out into the fields and start harvesting the more than 7 million acres of wheat planted this spring. Dennis and Lance Renner have been out in the fields combining wheat since the end of last week, and they’re excited about how it’s turning out. “I’m really happy with what the crop is right now,” Lance said.
USDA Lowers Illinois Wheat Yield Estimate
Farm Week Now – 8/16/2018
The wheat yield in Illinois was good this season, but it didn’t quite measure up to expectations. USDA revised its wheat yield estimate for the Prairie State down 3 bushels from the previous estimate due to lower yields and test weights in some areas. The Ag Department currently pegs this year’s average wheat yield in Illinois at 66 bushels per acre, down from the July 1 estimate of 69 bushels and well below last year’s record of 76 bushels. “It was one of the drier Mays we’ve had in a while, and we had some heat, too,” Dave DeVore, of Siemer Milling in Effingham County, said during the annual wheat tour hosted by the Illinois Wheat Association (IWA). “That maybe prevented some kernels from filling out to full potential.”
Source: U.S. Wheat Associates