Russia Revises Grain Exports Upward
World-Grain – 11/9/2018
Russia’s agriculture ministry said on Nov. 8 that it projects grain exports in 2018-19 at 38 to 39 million tonnes, up from its projection of 35 million tonnes in September. Because drought has taken a toll on Russia’s grain crop this year, there had been speculation that the world’s largest wheat exporter would limit exports. Russia harvested a record grain crop of 135 million tonnes in 2017 and exported a record 52 million tonnes of grain, including 40 million tonnes of wheat, in the 2017-18 season. This year, the country has so far harvested 114.2 million tonnes of grain, the agriculture ministry said.
Grain Traders Watch for Political Developments as Harvest Ends
Market Screener – 11/9/2018
As corn and soybean harvest comes to a close, grain analysts say political developments surrounding trade will be the next significant market mover. “We don’t know quite what it will be, with so much politics in the balance,” said Dan Basse, president of research firm AgResource Co. President Trump signaled progressing trade talks with China last week, saying that he will have dinner with China’s president during the G-20 summit, and traders are watching for additional developments before the meeting at the end of the month. Meanwhile, wheat experts are waiting to see whether Russia, the largest exporter of wheat in the world, will curb its exports, potentially allowing U.S. wheat to become more competitive, Mr. Basse said.
Trade War, Russia and Tech: What to Know as Grains World Meets
Bloomberg – 11/12/2018
The grain market’s had a lot to think about this year. U.S.-China tensions have upended global trade flows, droughts around the world damaged crops and Russia keeps expanding its wheat dominance. Those talking points will remain key as more than 1,000 traders, shippers and agribusiness executives gather in Geneva this week for the annual Global Grain conference. Much of the focus will be on the winners and losers as the trade war plays out, as well as how rival wheat shippers can close the gap when Russia’s exports finally start to slow.
Now It’s Full Steam Ahead for Trump’s Trade War With China
Markets Insider – 11/10/2018
The midterm elections will have a significant imprint on the policy course of the next two years, as the GOP push for more tax cuts, Obamacare repeal, and other wish-list items will likely be stymied by the Democrat-controlled House. But the gridlock coming to Washington is unlikely to slow down one of President Donald Trump’s newest and most impactful policies: the trade war with China. Analysts and economists say the president may even double down on the fight with Beijing. “China trade tensions will continue and possibly worsen,” said Isaac Boltansky, a policy analyst at research and trading firm Compass Point. “We believe the electoral split-decision will result in President Trump’s trade rhetoric — especially with China — becoming more bellicose in the weeks ahead.”
Wheat Leader Jimmie Musick Says Industry Facing Many Issues, But Has Faith All Will Be Resolved
Oklahoma Farm Report – 11/9/2018
Jimmie Musick of Sentinel, Okla. is asking his neighbors to stop praying for rain. After receiving 13-14 inches of rain so far this fall, he says his wheat pastures are wet enough and needs about a week of sunshine now to dry up his fields to get his crop back on track for a firm establishment and to finish up his planting for the year. This week, Musick represented the National Association of Wheat Growers in his official capacity as President of the organization, at the 2018 National Association of Farm Broadcasters Convention in Kansas City. While there, he sat down with Radio Oklahoma Ag Network Associate Farm Director Carson Horn to talk about the wheat industry in Oklahoma and across the country during a time right now when growers are facing a lot of uncertainty. You can listen to their complete conversation by clicking or tapping the LISTEN BAR below at the bottom of the page.
Nasty Weather Means Kansas Farmers Stop Planting Winter Wheat
Bloomberg – 11/11/2018
It’s getting nasty in Kansas. This should be the start of the state’s driest time of year. Instead, one of the rainiest Octobers on record brought big delays for farmers harvesting soybeans. That was followed by early snow — a freezing mess that means a lot of crops are still stuck in the field. All that is especially bad news for farmers who seed the same areas with winter wheat once the soy is cleared. The ground is too wet for planting. It’s bitterly cold, and there’s more snow on the way, so there’s little chance things will dry out anytime soon.
Mississippi Wheat: Frequent Rain Limiting Acreage
Ag Fax – 11/9/2018
Dry fall weather in recent years delayed wheat planting and reduced acreage significantly, but rains in 2018 are creating a different problem for wheat producers. Erick Larson, grain crops agronomist with the Mississippi State University Extension Service, said wet soils have delayed fall harvest in some areas. Harvest of other crops is the foremost priority before effort and acreage are devoted to wheat. “The moisture has been a benefit, but the intermittent rainfall has actually prohibited wheat planting in some fields that are too wet,” Larson said. “The rain is also delaying harvest of soybeans and cotton, particularly in northern parts of the state.”
Source: U.S. Wheat Associates