Wheat Still ‘Russian’ Out the Ports
Grain Central – 9/11/2018
Uncertainty about possible Russian wheat export restriction, along with the price and pace of its wheat exports remained the dominant factors in world wheat markets this week. Nobody really knows the true supply and demand equation in Russia’s fragmented market, as Peter McMeekin reports.
Wheat Australia’s Wheat Output in 2018-19 Season Seen Down 10% at 19.1 Mil Mt
Platts – 9/11/2018
Australia was expected to produce 19.1 million mt of wheat in the 2018-19 (October-September) season, down 10% from 21.2 million mt in 2017/18, the Australian Bureau of Agricultural and Resource Economics and Sciences said. The decline in estimate is primarily attributed to reduced crop prospects from exceptionally unfavourable seasonal conditions in Queensland, New South Wales and parts of Victoria and South Australia. In New South Wales, the well below average rainfall during the planting window resulted in much less area planted to winter crops than was initially intended. As a result, wheat production is forecast to fall by 44% to 2.5 million mt in 2018-19.
Canada’s Freeland to Hold NAFTA Talks on Tuesday as Time Runs Short
Reuters – 9/10/2018
Canadian Foreign Minister Chrystia Freeland will meet U.S. Trade Representative Robert Lighthizer in Washington on Tuesday for another round of talks to renew the NAFTA trade pact, an official said on Monday, as time runs short to seal a deal. Freeland spokesman Adam Austen did not give details. After more than a year of negotiations, Canada and the United States are still trying to resolve differences over the North American Free Trade Agreement, which also includes Mexico.
Wheat Commission Funds Research
KNEB – 9/10/2018
The Kansas Wheat Commission has announced that it is putting its support behind a technology being advanced at Kansas State University and that one researcher says will bring “many new discoveries” in improving wheat. The university has been working with wheat gene editing since 2014, and recently published findings of a study in which they successfully increased seed size in a cultivar of wheat. Their work was published Aug. 22 in the journal, Theoretical and Applied Genetics. “This is our first product that shows that the system works and that we can effectively apply it and affect a trait in wheat in a positive way,” said Eduard Akhunov, K-State professor of wheat genetics and pathology.
2018 Spring Wheat Harvest: A Mixed Bag
DTN The Progressive Farmer – 9/10/2018
The drought-stricken spring wheat harvest of 2017 is now a distant memory, as farmers overall reported a decent harvest in 2018. But some did face roadblocks along the way. Farmers in North Dakota, South Dakota, Montana and northwest Minnesota had to wait for the late-spring snow to melt and the ground to thaw, as the calendar days for planting slipped away. On top of that, hail hit some of the spring wheat areas that were hit hard by drought last year, affecting some of the acres that were on tap to produce good yields.
Bread Prices to Keep Rising After Reduced Wheat Harvest
The Guardian – 9/10/2018
The cost of bread is forecast to rise after the effects of a dry summer pushed up the price of wheat by 25% to 30%. Prices in stores have already risen in recent months and are likely to continue going up as Associated British Foods (ABF), the owner of Kingsmill, said the impact of its rising costs would be “reflected in our ongoing discussions” with retailers. The UK wheat harvest was about 13m tonnes in 2018 compared withup to 16m expected in a good year, sending prices up to £190 a tonne compared with £120 a tonne before the Brexit vote in 2016 and £150 after the subsequent fall in sterling.
Source: U.S. Wheat Associates