Wheat Prices Hover Near Harvest Lows, Analyst Says
Successful Farming – 10/15/2018
Wheat markets saw choppy price action last week, particularly after the supply/demand report was released when corn and soybeans shot higher, pulling wheat higher as well only to give it all back and then some by the close. Friday saw the markets regain those losses. Back and forth all week. Prices are hovering near the harvest lows, unable to get much traction despite increasing problems with Russian exports. Complaints from buyers that low-quality wheat was being delivered has prompted the Russian government to step up inspections. This will slow the exporting process and could stall it if higher quality supplies can’t be found.
French Wheat Exports to Gain From Russia Supply Drop
Hellenic Shipping News – 10/15/2018
A brisk start to France’s wheat export season and less competition from Russian supplies led farming agency FranceAgriMer to raise its forecast for French soft wheat exports outside the European Union in 2018/19. FranceAgriMer pegged French soft wheat exports to non-EU destinations at 8.75 million tonnes, up from its initial outlook of 8.5 million in September and well above 8.1 million in 2017/18. Exports outside the EU in the first three months of the season that began on July 1 were 24 percent above the year-earlier volume, the agency said.
South Africa: A Promising Region for U.S. Agricultural Exports
Southeast AgNet – 10/15/2018
Two-way agricultural trade between the United States and Southern Africa has grown significantly in the past decade, reaching a record $1.5 billion in 2017. The region imported $14 billion in agricultural and related products last year and the potential for U.S. export growth is strong, given that many of these are products that the United States produces competitively. USDA’s Foreign Agricultural Service (FAS) defines the Southern Africa region as the countries of Angola, Botswana, Lesotho, Madagascar, Mauritius, Mozambique, Namibia, South Africa, eSwatini (formerly Swaziland), Zambia, and Zimbabwe. The region is home to 167 million people.
Ukraine 36.1% of Wheat Already Exported Under the Grain Export Memorandum
Black Sea Grain – 10/11/2018
According to the Ag Ministry, Ukraine had exported 5.8 MMT of wheat by October 5, 2018, or 36.1% of the volume set in the 2018/19 Memorandum of Understanding between the Ag Ministry and grain market participants, reports UkrAgroConsult. Broken down by class, 2018/19 wheat exports looked as follows: exporters shipped abroad 2.5 MMT of feed wheat (31.2% of its volume set in the Memorandum) and 3.3 MMT of milling wheat (41%). The latter included 0.42 MMT of 2nd class wheat (38% of its calculated export potential) and 2.07 MMT of 3rd class wheat (40% of potential).
Research Looks for Solution to Wheat, Barley Disease
KXLY – 10/12/2018
Few know that rust does not only develop on metals, but also develops on plants in the form of disease. Stripe rust affects wheat and barley crops causing serious financial loss for farmers. The disease is especially a problem for local farmers, who produce mass amounts of wheat used and exported from the U.S. The Pacific Northwest also has the ideal climate for stripe rust because the fungus prefers cooler weather and moisture in the air.
Source: U.S. Wheat Associates