Black Sea Wheat Sees Blockchain Trade
S&P Global – 11/12/2018
Black Sea wheat traded using blockchain Monday in a pilot deal between Solaris and Transoil International via the Cerealia Platform, the platform’s developer said. A Russian 25,000 mt parcel of 11.5% protein wheat on a FOB basis at Novorossiisk for December delivery traded for an undisclosed price. The platform developer said it was the first such Black Sea wheat deal.
Aussie Wheat Production Slashed Again
The Weekly Times – 11/13/2018
Australia’s estimated wheat production for this season has been scaled back yet again following publication of the US Department of Agriculture’s World Agricultural Supply and Demand Estimates report. But news from Western Australia of increased grain production means that state will be producing about 89 per cent of the country’s total grain in 2018-19. The US department report, released last week, dropped Australian production by a million tonnes down to 17.5 million tonnes due to continued drought.
Wheat Outlook: Larger China Crop Offsets Reductions Elsewhere
Ag Fax – 11/13/2018
Global wheat production for 2018/19 is raised 2.6 million tons, largely on a sizable increase in projected China production. Newly released data from China’s National Bureau of Statistics indicates higher harvested area, yields, and production for the current marketing year, as well as significant production revisions going back to 2007/08 through 2017/18 crops.
Gene-Edited Food is Coming, But Will Shoppers Buy?
The Washington Post – 11/14/2018
The next generation of biotech food is headed for the grocery aisles, and first up may be salad dressings or granola bars made with soybean oil genetically tweaked to be good for your heart. By early next year, the first foods from plants or animals that had their DNA “edited” are expected to begin selling. It’s a different technology than today’s controversial “genetically modified” foods, more like faster breeding that promises to boost nutrition, spur crop growth, and make farm animals hardier and fruits and vegetables last longer.
United Kingdom: Trade War, Russia and Tech: What to Know As Grain World Meets
Futures – 11/12/2018
The grain market’s had a lot to think about this year. US-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. And don’t forget tech. There’ll be discussions on modernizing the trading and movement of crops, particularly using blockchain, the technology behind digital currencies.
Source: U.S. Wheat Associates