AgriLife Research Wheat Breeder Talks Value, Marketing During Latin American Tour
North Texas e-News – 01/21/2019
Working with U.S. Wheat Associates, the export market development organization for the U.S. wheat industry, Rudd recently traveled with the Wheat Quality Improvement Team through Latin America with stops in Mexico, Guatemala, Costa Rica and Peru. “Our purpose on this type of trip is to meet with end-users and allow them to educate us as breeders about the specific end-use quality requirements of key overseas markets, since about half of all U.S. wheat is exported,” Rudd said.
Canadian Wheat Exports to China Soar Amid U.S.-China Tariff Dispute
Business Breaking News – 01/18/2019
Canada’s wheat exports to China jumped nearly 200 per cent from January to November 2018 as the Asian country stopped buying from American farmers amid a tariff dispute. Statistics Canada data released Thursday shows total Canadian wheat exports grew nearly 13 per cent during that time from about 15 million tonnes to roughly 17 million tonnes.
Russia Plans Tougher Grain Export Controls
Reuters – 01/19/2019
Russia’s state agriculture watchdog is considering plans to strengthen controls on grain exports, Russian news agencies reported on Saturday. There has been speculation that the world’s largest wheat exporter could limit grain exports later in the 2018/19 season which started on July 1, to keep a lid on domestic prices.
Egypt to Take 1.7 Mil MT of US Wheat Amid Thin Russian Supply
S&P Global – 01/21/2019
Egypt is expected to take 1.5-1.7 million mt of US wheat this marketing year, July 1, 2018 to June 30, 2019 as Russian deep sea port 12.5% protein wheat becomes scarce. Around 800,000 mt is expected to come from the private market by the end of the marketing year.
Trade Policy Warning
The Progressive Farmer – 01/22/2019
Ratcheting back tariffs on Chinese goods to calm markets and give China an incentive to make more-substantial concessions in trade negotiations with the U.S. is being advocated by Treasury Secretary Steve Mnuchin, according to the Wall Street Journal (WSJ), but the effort is getting pushback from U.S. Trade Representative Robert LIghthizer.
Weakness Prevails Across Foreign Grain-Based Foods Companies in 2018
Foreign grain-based foods companies experienced sharply weaker performance in 2018 to that of 2017, as 29 of the 39 companies tracked by Milling & Baking News, a sister publication of World Grain, recorded year-over-year decreases in share price while only 10 posted increases.
Source: U.S. Wheat Associates