Wheat Outlook: Global Supplies Tighter on Reduced Australian, Russian Production
AgFax – 10/19/2018
This month, 2018/19 all-wheat production for Australia and Russia is collectively lowered by 2.5 million metric tons. These cuts more than offset a slight production increase for the U.S. and help to tighten the global all-wheat balance sheet. At 260.2 million metric tons, global ending stocks are now 5 percent below last year’s record-large carryout.
Pending Strike Could Hurt Grain Shipments in Argentina
World-Grain – 10/19/2018
Argentina’s Federation of Argentine Transporters (FETRA) on Oct. 17 expressed its intent to go on strike next week, a move that could have a wide-ranging impact on the country’s grain shipments, according to Reuters. FETRA did not indicate how long a potential strike may last, noting only that it wants to see an increase in hauling rates. “We need regulation that, in this time of hyperinflation, help us with a trigger clause that automatically updates the tariff,” FETRA secretary Claudio Enri told Reuters on Oct. 18. Enri said the government last updated tariffs to account for inflation in July.
EU Wheat Holds Near Two-Week Low as Exports Remain Sluggish
Hellenic Shipping News – 10/21/2018
European wheat futures were hovering near the previous session’s two-week low on Friday, with tightening global supplies and drought concerns in Europe offset by sluggish exports. December milling wheat on Paris-based Euronext was unchanged at 201.25 euros a tonne by 1626 GMT, just above Thursday’s two-week low of 200.75 euros. “There’s not enough news to shift the market,” one futures dealer said. “For now, the warm weather is helping Russia export quickly. It may be more like early 2019 before western Europe gets its turn in exports. This could mean December futures come under pressure while March and May prices have more upward potential.”
New Clash Over Trump Tariffs Heats Up With Barrage of WTO Litigation
Reuters – 10/19/2018
Disputes over U.S. tariffs and retaliatory moves by other states have sparked 12 requests for adjudication at the World Trade Organization, signalling an escalation in global trade tensions. The agenda for an Oct. 29 meeting of the WTO’s dispute settlement body on Friday confirmed the legal moves, which Reuters reported late on Thursday. The dispute procedure begins with a 60-day window for talks to try to reach a settlement. The meeting agenda show that those talks have failed.
Wheat Wizards: Washington Lab Baking Better Bread
Herald Net – 10/21/2018
When Steve Jones left the rolling wheat fields of Eastern Washington’s Palouse to direct Washington State University’s research lab in Mount Vernon, the crops he thought he’d be working with were cabbage, cucumbers “and maybe even tulips.” He was in for a surprise. Skagit Valley farmers told him: “We want you to work on wheat and barley.” Jones, who had been a wheat breeder on WSU’s main campus for 15 years, said he was thrilled to take on the challenge.
New Wheat Marketing Center Technical Director Gets Her ‘Dream Job’
Capital Press – 10/19/2018
The new technical director of the Wheat Marketing Center says she’s gotten her “dream job.” Jayne Bock takes over the position Nov. 1. She replaces Gary Hou, who departed April 30 after more than 22 years with the center. Bock spoke by telephone with the Capital Press while in Portland for the Oct. 18 center board meeting. “It’s this beautiful blend of academia and industry, where I really get to pursue my passion for education and teaching, while also doing a research component as well,” she said.
Source: U.S. Wheat Associates