Russian Minister, Traders to Discuss Grain Exports At Routine Meeting
Successful Farming – 10/24/2018
Russian Agriculture Minister Dmitry Patrushev and traders of Russian grain will discuss exports at a routine meeting on Oct. 26, three sources informed about the meeting told Reuters on Wednesday. Chicago wheat prices, a global benchmark for this type of grain, were periodically supported in recent months by speculation that Russia, one of the world’s largest wheat exporters, might move to limit exports later in the season due to a lower crop. However, after a meeting in September, the agriculture ministry said it did not see a need to impose an export duty on grains or to curb grain exports in any other way.
Argentina Truck Drivers Begin Indefinite Strike, No Immediate Impact
Successful Farming – 10/24/2018
Argentina’s transportation union began an indefinite nationwide strike on Wednesday in protest of high inflation and export taxes, but the Chamber of Port and Maritime Activities said the work stoppage has not yet affected grain exports. While the strike halted grain trucks into Argentina’s major port of Rosario, the port of origin for 80 percent of Argentina’s exports, ship loading was not affected as companies were still loading ships with reserve grain.
It’s Snowing So Much in Canada That Crops Can’t Get Harvested
Futures – 10/23/2018
Mike Ammeter barely received a drop of rain on his Alberta farm all summer. Now, wet and snowy weather has kept him from harvesting his crops for five weeks. “There’s a lot left to be done,” said Ammeter, 58, who hasn’t been able to harvest any of the 1,300 remaining acres of canola, wheat and barley that’s sitting under 1 inch (2.5 centimeters) of snow on his farm west of Red Deer, Alberta. “The wheat is going to be downgraded for quality. Those losses are already done.” It’s unfortunate timing for Canada, one of the world’s top wheat suppliers and the biggest canola exporter. The US-China trade war and production problems for Russia and Australia are creating an opening for Canada to grab more market share in the global crop trade. While the nation’s wheat exports are running ahead of last year so far, further harvest delays could impede some of those sales.
Canadian Farmers Race to Reap Wheat While Sun Shines, But Damage Done
Fidelity – 10/23/2018
Sunny skies may allow Canadian farmers to swiftly make up for harvest delays this week, wrapping up a nightmarish season for some. But while the harvest is finally on its way in the third-biggest wheat-exporting country, weather troubles look to dent farm incomes due to quality problems that are also forcing some millers to scrounge for supplies. As of early last week, harvesting of major crops was only half finished in Alberta, at a time when usually it is nearly complete. Harvests in other provinces are more advanced.
Trump’s Trade War Tests Farmers’ Loyalty
Las Vegas News – 10/23/2018
In good years, cargo trains moving west along the flat, sweeping grasslands of North Dakota’s plains are a sign of money rolling in. Today, as tariffs from America’s largest foreign soybean market — China — threaten to upend the industry, many trains sit idle. “There are no shuttle trains leaving. There is no nothing,” said Joe Ericson, the 38-year-old president of the North Dakota Soybean Growers Association. “They can’t get rid of the beans.” In conversations with more than 50 farmers, producers and agriculture experts in five states representing each of the five food groups, one trend was clear: The once-deep ties to President Donald Trump have frayed over the past year.
Source: U.S. Wheat Associates