Russian Wheat Export Prices Fall Due to Competition with U.S. Wheat
Reuters – 10/29/2018
Russian wheat export prices fell last week due to intensified competition with U.S. wheat for supplies to Egypt, the world’s largest importer and the top buyer of Russian wheat, analysts said on Monday. Chicago wheat prices, the global benchmark, had been falling last week until Friday when they jumped as U.S. wheat became one of the winning origins – for the first time in many months – at a tender of GASC, Egypt’s state buyer.
EU Wheat Slips to 6-Week Low on Rain Relief, Lagging Exports
Reuters – 10/30/2018
Euronext wheat futures eased to a six-week low on Tuesday, falling back below the psychological 200 euro threshold, as still sluggish export activity and some rain relief for parched French grain belts weighed on sentiment. Benchmark December milling wheat on Paris-based Euronext was down 1.50 euros, or 0.8 percent, at 199.00 euros ($225.90) a tonne by 1700 GMT. It earlier fell to 198.75 euros, its weakest since Sept. 18 and just below last Thursday’s five-week low.
Egypt Looks Likely to Fail on Wheat Self-Suficiency
Brinkwire – 10/29/2018
A plan by the Egyptian government to make the country self-sufficient in wheat will likely fail by the 2040s, according to a study by researchers in Egypt and the US. The plan involves intensifying farming methods and the near-doubling of irrigated land for wheat production by 2035, from 3.9 to 7.7 million hectares. According to the study, however, even a modest growth in population will swiftly consume the extra yield from this expansion. “As about 30% of wheat is irrigated globally, the challenges Egypt is facing are similar to other countries trying to increase agricultural production,” says Senthold Asseng of the University of Florida, US. “What we learn from our study in Egypt will also apply to other parts of the world.”
Wheat Quality Challenges Imposing Burden on Baking
World-Grain – 10/30/2018
Wheat quality is not meeting the requirements of highly automated, modern baking plants, said Hayden L. Wands, vice-president of global procurement, Grupo Bimbo S.A.B. de C.V. A failure of bakers, millers and breeders to communicate more effectively is to blame for the gap between the quality produced and what is needed, Mr. Wands said in an Oct. 20 panel discussion at the annual meeting of the North American Millers’ Association at The Cloisters in Sea Island. The panel was moderated by Robb MacKie, president and chief executive officer of the American Bakers Association. It also featured Marshall Maddox, president, The Bakery Cos., Nashville, Tennessee, U.S. Wands used a colorful analogy to describe the mismatch between hard red winter wheat varieties currently in widespread production and the need of baking companies like BBU.
Dutch Researcher Stays Positive Despite EU Ruling on Gene Editing
High Plains Journal – 10/29/2018
Gene editing, although researched by many scientists in Europe, is considered controversial. The Court of Justice of the European Union recently ruled organisms obtained by mutagenesis are Genetically Modified Organisms and will be subject to the laws made for GMOs. John van der Oost, microbiologist at Wageningen University in the Netherlands, has been studying gene editing since 2002. “WU research has shown the genes of viruses can have fragments edited to help with immunity against the viruses,” van der Oost said. “This research can also help us carry out specific editing of genomes to change part of the DNA to prevent diseases, viruses and mutations.”
Source: U.S. Wheat Associates