Asia eyes Argentine Wheat as Drought Curbs Australian Output
Hellenic Shipping News – 9/17/2018
Asian flour millers are expected to seek rare wheat shipments from Argentina in coming months as a second year of drought in traditional supplier Australia curbs supplies. At present, Asian wheat importers, including the world’s biggest buyer Indonesia, are buying most of their wheat from the Black Sea region. But Russia and Ukraine are expected to run out of surplus supplies by the end of the year due to a fall in output and strong demand for exports, forcing buyers are seek shipments from alternative origins, traders and analysts said. “From December onwards and in the first quarter of 2019, we expect some of Argentina’s surplus wheat to come to Asia,” said one Singapore-based trader at an international trading company.
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Wheat Outlook: Global Production Raised – Improvements for Black Sea, Cuts for Australia, Canada
Oklahoma Farm Report – 9/13/2018
The outlook for global 2018/19 wheat production improved by 3.4 million metric tons in September due largely to a 3 million metric ton increase in forecast Russia wheat production. Excellent weather in the spring wheat belt helps to lift regional production prospects and more than offsets cuts for Australia and Canadian crops. Australia production is lowered 2 million metric tons this month to 20 million, the lowest level since 2007/08. Net growth in global production and supplies outpaced expanded use, leading to a 2.3 million metric ton increase in global ending stocks.
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Wheat Testing Harvest Lows, Analyst Says
Successful Farming – 9/14/2018
It’s been an active couple of weeks across the wheat complex. As has been the case since early August, minor rally attempts get slammed. Now we’re testing the harvest lows, remarkable considering the bullish fundamentals that have developed over the summer. But aggressive selling by Russian exporters has pressured world cash prices, pulling futures lower as well. This week, USDA’s supply/demand report cast a bearish slant to world stats as they increased world production by 3.4 MMT. They left U.S. data unchanged. There has been little consistent bullish news over the last few weeks to support a sustained rally.
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Traders Wary of Delays as Russia Toughens Grain Export Control
Successful Farming – 9/14/2018
Russia’s food safety watchdog has beefed up quality controls on grain exports due to complaints from major buyers and the lower quality of the crop, it said on Friday, adding that the more stringent checks were not aimed at limiting grain exports. Traders have been watching for any changes to regulations because they were used in the past to place informal curbs on exports. Some traders said the new controls were excessive and could cause delivery disruptions on signed contracts.
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USDA Explains Its Trade Aid Payments
Farm Week Now – 9/14/2018
U.S. senators questioned how USDA calculated retaliatory trade aid for farmers – and asked officials what’s being done to expand markets. The questions came during a U.S. Senate Agriculture Committee meeting attended by Gregg Doud, chief agriculture negotiator for the Office of the United States Trade Representative; Ted McKinney, undersecretary for trade and foreign affairs; and Robert Johansson, USDA’s chief economist. That same day, USDA released a white paper explaining how it determined payments for cotton, corn, dairy, hogs, sorghum, soybean and wheat producers.
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Wheat Industry Leaders Welcome Attention on Trade Policy Risks, Opportunities at Senate Hearing
Oklahoma Farm Report – 9/14/2018
The National Association of Wheat Growers (NAWG) and U.S. Wheat Associates (USW) appreciate the Senate Agriculture Committee holding a hearing on “Perspectives on U.S. Agricultural Trade” Sept. 13, 2018, focused on the Trump Administration’s trade agenda. The organizations are encouraged that Chairman Roberts and Ranking Member Stabenow, as well as the members of the Administration who testified today, recognize the challenges farmers face in weathering today’s unique trade policy environment.
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Editing In A Yield Increase
Nebraska Farmer – 9/17/2018
The promise of gene editing to boost crop performance is real. The key is finding which genes that can be turned on or off will help reach the desired result. There’s success for editing soybeans for high-oleic production and work being done on waxy corn. Yield10, a Massachusetts company, has recently announced success with work on camelina; but for this company, success with the alternative crop is just the start. Oliver Peoples, CEO, Yield10, talked with Farm Progress about the company’s approach and his insights into the regulation of gene editing and why it shows promise for the future. “We use traditional genetic engineering to identify targets, and we work with those targets,” he explains.
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Source: U.S. Wheat Associates