Russia, Russia, Russia: Wheat Market Conundrum
Southwest Farm Press – 9/20/2018
As of Oct. 1, 90 percent of the world’s 2018/19 marketing year wheat production will have been harvested. Market analysts have a relatively good estimate for 2018/19 world production and use. Yet, there is a lot of uncertainty about Russian wheat production, quality, and exports. The Northern Hemisphere wheat harvest is complete, except for a small percentage of Canadian and Russian wheat. In the Southern Hemisphere, Australia’s t harvest will begin mid- October and Argentina’s harvest will begin mid-November.
Growth of Russian Wheat Production Is a Threat to U.S. Farmers
Finance and Markets – 9/25/2018
Wheat production in Russia is on the rise. Despite the fall in prices in recent years, the Russian farmers have increased exports, threatening the welfare of US producers Russia became the largest exporter of grain in the world. In 2016 Russia surpassed the United States on the world wheat market, the same is happening this year. Moreover, the production of American wheat for this agricultural season has decreased by 25%.
Could A Farm Bill Expiration Compound Trade Issues?
Ag Web – 9/24/2018
As farm bill conference committee members are hard at work this week, the clock is ticking for them to get a deal done before the September 30 deadline. One Iowa farmer has concerns an expired farm bill could compound trade issues. “One the thing that I think we need to keep in perspective with the farm bill are the market access programs and the foreign market development [programs] which are which are critical, especially for trade, especially in this time of tariffs and trade wars,” Bob Hemesath told AgriTalk host Chip Flory. “Whether it’s the U.S. Grains Council or the Soybeans [Associations] or U.S. Meat Export Federation, they leverage those funds to develop new markets, to get access to new markets, and to maintain markets.”
Farmers Say Current Trade War Mirrors 1980 Russian Grain Embargo
Net Nebraska – 9/24/2018
Harvest season isn’t far away for corn and soybean farmers, whose crops are worth less now than when they planted in the spring due to the United States’ trade war. “We don’t know what to think from one day to the next. It’s hard to plan,” said Duane Hund, a farmer in Kansas’ Flint Hills. Forty percent of farmers polled this summer by Farm Futures said President Donald Trump’s trade policy is permanently damaging U.S. agriculture. The scrambling of global markets is just beginning, Hund said, and pointed to the 1980 Russian grain embargo as an example.
Racing Against the Harvest, Custom Wheat Cutters Struggle to Stay Relevant
Civil Eats – 9/24/2018
Myron Eberts stood on the platform of his red Case IH combine with a matching red t-shirt—the only color shirt he ever wears— blue jeans, scruffy gray beard, and his baseball hat adorned with the logo for his company: Eberts Harvesting. With his phone’s remote headset around his neck, he stared down toward the ground on the edge of the 300 acre field, mired in thought. For the second morning in a row, the wheat on the outskirts of Martin, South Dakota was too wet to cut. Cole, a 17-year-old from eastern Montana Eberts had hired for the summer, sat in the wheel well of the combine staring at his phone as Eberts ran dozens of different scenarios through his head for what must have felt like the hundredth time.
Source: U.S. Wheat Associates