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Articles of Interest- Monday, January 28, 2019

Articles of Interest- Monday, January 28, 2019

Wheat Prices: What’s it Going to Take?

Southwest FarmPress – 01/25/2019

Since Dec. 1, 2018, the Burlington, Okla. wheat price has been as low as $4.68 and as high as $5.01. Since Jan. 3, prices have traded in an 11-cent price range. To put it lightly, the wheat market has just been wallowing around. For prices to increase, it is going to take increased export demand for U.S. hard red winter (HRW) wheat and reduced exports from the Black Sea area (Russia and Ukraine).

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Opinion: Only Rumors Available to Move Trade

AgWeek – 01/27/2019

The wheat market experienced buying interest to kick off the holiday shortened week. The big market mover was rumors of China potentially purchasing 7 million metric tons of U.S. wheat. Keep in mind that 8 million metric tons is just under 300 million bushels, or three-fourths of the total U.S. spring wheat crop. The second big piece of information from the three-day weekend was that Russian wheat prices increased and their internal milling margins have narrowed due to declining supplies from the rapid export pace.

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Wheat Farmers See Wins in the Farm Bill

High Plains Journal – 01/27/2019

Dan Wogsland, executive director of the North Dakota Grain Growers Association, told farmers there are some solid wins for them in the 2018 farm bill…“There are a lot of wins in this farm bill, but perhaps most important are the improvements in the ARC and PLC programs,” he said. “There are also improvements in crop insurance. And funding for Market Access Program and Foreign Market Development programs are essential to getting our products sold worldwide. In North Dakota, 50 percent of our wheat has to go overseas.”

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Market Data, Especially Export Sales, Should Come Back into Focus Next Week

The Progressive Farmer – 01/25/2019

Agriculture Secretary Sonny Perdue released a brief statement Friday following President Donald Trump’s announcement, but no specifics on reopening procedures were spelled out for key market information. At some point next week, possibly as early as Monday, USDA’s Foreign Agricultural Service will start to shed light again on export sales for commodities. USDA has not released export data since the shutdown began, and that has largely left commodity prices relatively flat throughout the shutdown.

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IGC Forecasts Lower World Wheat Output in 2018-19

World-Grain – 01/25/2019

With no one home at the U.S. Department of Agriculture to provide updates to U.S. and world wheat supply-and-demand forecasts because of the partial shutdown of the federal government, this month’s Grain Market Report issued Jan. 24 by the International Grains Council was more highly anticipated than usual.The IGC forecast world wheat production in 2018-19 at 737 million tonnes, up 8 million tonnes from its November projection (the IGC issues no monthly report in December) but down 30 million tonnes from a record 767 million tonnes in 2017-18.

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Wheat U Offers Focused Educational Opportunity 

MarketScreener – 01/26/2019

The High Plains Journal, Agweek and BASF brought an educational opportunity for wheat growers to North Dakota for the first time on Jan. 17. Held at the Bismarck Event Center, Wheat U featured presentations from BASFscientists and North Dakota State University Extension professionals, as well as conversations with wheat growers, wheat users and other industry officials.

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Source: U.S. Wheat Associates