CPTPP Adds Time Pressure for U.S.-Japan Pact
Agri-Pulse – 11/7/2018
Unless the U.S. and Japan move quickly in promised trade talks, American wheat farmers stand to take significant hits in exports thanks to the swiftly approaching start of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Japan, the largest economy in the CPTPP, offers significant tariff cuts for wheat to Australia and Canada, which are the biggest competitors to the U.S. for the Japanese market. The U.S. would have also been covered under those tariff cuts had it stayed in the Trans-Pacific Partnership, but President Donald Trump followed through on campaign promises and pulled the U.S. out of the Pacific Rim trade pact as one of the first things he did after taking office in January 2017.
American Farmers Need the Cuban Market
The Hill – 11/6/2018
Farmers across the country are worried. Net farm income this year has hit a 12-year low and is expected to drop nearly 20 percent overall. With falling domestic demand, higher production prices, and competition from foreign producers already hurting our farmers, retaliatory tariffs on U.S. farm exports by China, the EU, Canada, Mexico and Turkey are an added weight on the shoulders of our growers and producers. American farmers are tough patriots, but they need strong export revenues to stay in business. Building new export outlets for American farmers and allied industries has become an imperative, and Cuba should be part of that mix.
Canada’s Wheat Crop Higher on Increased Plantings
World-Grain – 11/6/2018
An increase in total harvested wheat area in Canada more than offset lower yields due to difficult harvest conditions, leading to a projected production increase in 2018-19, according to a Nov. 5 Global Agricultural Information Network report from the U.S. Department of Agriculture (USDA). Harvested area is projected to increase from 8.9 million hectares in 2017-18 to 9.8 million this year, the USDA said. Average wheat yield is forecast to drop from 3.4 tonnes per hectare to 3.1 tonnes, according to the report.
Focus on Vietnam
World-Grain – 11/5/2018
Vietnam is one of the world’s leading producers and exporters of rice, but wheat consumption is growing. Imported grains and oilseeds play an important part in supplying the country’s big livestock sector. There is no wheat produced in Vietnam. The International Grains Council (IGC) estimates its 2018-19 corn crop at 4.7 million tonnes, down from 4.9 million the year before. The IGC puts Vietnam’s total grains imports in 2018-19 at 14.7 million tonnes, up from 13.7 million the year before. The figure includes imports of 4.4 million tonnes of wheat, down from 4.6 million the year before, and 10.2 million tonnes of corn, up from 9 million a year ago.
Trade Agreement, Crop Prices Push Up Farmers’ Optimism, Ag Barometer Shows
Successful Farming – 11/6/2018
U.S. farmers are a lot more optimistic about the current conditions of the ag economy and future expectations, according to the The Purdue University/CME Group Ag Economy Barometer. October’s reading of the monthly barometer rebounded to 136, a 22-point increase in the index compared with September, leaving the barometer nearly equal to its level one year ago, according to a Purdue University press release.
Ardent Mills to Collaborate with Arcadia on Wheat Innovation
World-Grain – 11/7/2018
A project to extend the shelf life and improve the flavor of whole wheat products will be the first embodiment of a collaboration announced Nov. 6 between Ardent Mills, LLC, Denver, and Arcadia Biosciences Inc., Davis, California, U.S. The project relies on Arcadia’s patented “extended shelf life” wheat trait technology. Flour milled from that wheat oxidizes more slowly, extending its storage life, reducing waste and improving the taste by minimizing the bitterness some consumers associate with whole wheat products. “This new trait was developed through traditional breeding,” said Shrene White, general manager of The Annex by Ardent Mills. “While innovative thinking has brought it this far, further collaboration will continue between Ardent Mills, Arcadia and university partners to bring this trait to commercial reality.”
Source: U.S. Wheat Associates