Weekly Grain Movement – Wheat Continues to Dissapoint
Farm Futures – 11/26/2018
Grain export inspections didn’t deliver a lot of positive news for wheat, with a tally of less than half of the prior week’s volume for the week ending November 22. Corn and soybeans moved moderately higher week-over-week, meantime, but aren’t turning in numbers to consistently stay ahead of the weekly rate needed to match USDA forecasts.
Russia Eyes New Wheat Export Frontiers in Challenge to EU, U.S.
Reuters – 11/22/2018
Russia, already the world’s leading wheat exporter, is bent on taking further market share from the European Union and United States with a new attempt to crack what have traditionally been its most difficult destinations. Successful marketing campaigns in Iraq, Saudi Arabia and Algeria would cement Russia’s leading position in the wheat markets of the Middle East and North Africa.
Niche World Wheat Production Problems Come to Fore
World-Grain – 11/26/2018
Just a couple of years ago this meteorologist had his hands slapped for trying to make an issue out of world wheat production problems. The word was that there was too much wheat in the world and that a focus on that crop was a waste of time. Today, of course, the trade has a little different mindset. Smaller crops in Australia, Canada, Europe and Russia this year allowed the commodity “trade” winds to blow from a different direction. Now that everyone thinks there is a problem the question that begs to be answered is, “Can world wheat production potentials improve?”
EU Sends WTO Reform Proposal to Break U.S. Deadlock
Reuters – 11/26/2018
The European Union published proposals on Monday for reform of dispute settlement at the World Trade Organization that it has agreed with China, India and other countries, hoping to overcome U.S. objections that have thrown the WTO into crisis. There was no immediate reaction from the United States, which has previously dismissed the EU’s ideas on the subject.
U.S. Farmers Visit Cuban Farms, Discuss Future Relationships
High Plains Journal – 11/24/2018
Delegates from the U.S. agriculture industry were in Cuba recently for the Cuba-U.S. Agriculture Business Conference. The conference brought about much interest from the Cuban Ministry of Agriculture, Ministry of Foreign Affairs and the Cuban media. Representing the soybean, corn, wheat, poultry, potato, rice, sorghum and barley industries, the 20 conference participants met with Cuban government officials and farmers on Nov. 8 to 10, 2018. While about 30 percent of Cuba’s 42,000 square miles of land area is currently used for farming, Cuban farmers do not have access to the latest technologies, equipment and inputs to reach their yield potential.
KAP Resolution Says Keep Glyphosate-Tolerant Wheat Out
Manitoba Cooperator – 11/26/2018
Monsanto shelved Roundup Ready wheat in 2004 but its spectre still haunts some Manitoba farmers. Delegates attending the Keystone Agriculture Producers’ (KAP) advisory council meeting here Nov. 12 passed a resolution for KAP to lobby the federal government to “disallow the testing, funding, importation and introduction of glyphosate-tolerant wheat in Canada.”
Source: U.S. Wheat Associates