Egypt is Running First Wheat Tender with New Payment Terms
Bloomberg – 01/29/2019
Traders will be paying extra attention to Egypt’s first wheat tender since the country changed payment terms in a move that may cut costs for the top importer and its suppliers. The General Authority for Supply Commodities is seeking wheat for March 11-20 shipment in a tender Tuesday, the first since it changed terms to pay suppliers immediately, rather than in 180 days. That’s expected to cut loan costs for traders that need to finance the initial purchase of grain, which could then be passed on as the cargoes are sold to Egypt.
Farm Subsidies to Leap on $9.8 Billion in Trade Aid
Agri-Pulse – 01/28/2019
Government payments to farmers are forecast to hit their highest level in more than a decade because of the trade assistance being provided to producers this year, and the total could go even higher if Congress, as expected, authorizes a new round of disaster aid. The Trump administration’s temporary Market Facilitation Program, launched last fall to compensate farmers for lost exports of soybeans and other crops due to retaliatory tariffs, will pay out $9.8 billion in fiscal 2019, according to the Congressional Budget Office’s latest projection of farm program costs.
National Wheat Yield Contest Officially Opens
Capital Press – 01/25/2019
The National Wheat Foundation is now accepting entries for the 2019 National Wheat Yield Contest. The contest is looking for the highest yield for winter and spring wheat for both dryland and irrigated fields. Deadline for winter wheat entries is May 15, with an early registration deadline of April 1. The spring wheat entry deadline is Aug. 1, with an early registration deadline of June 15, according to the foundation.
How General Mills Sustainably Sources Food Ingredients from Around the World
Conscous Company Media – 01/28/2019
To produce enough food to feed an increasingly hungry world, we must take care of the people who are raising the crops as well as the land, water and air needed for them to thrive. As a global food company that relies on ingredients from around the world, we pay careful attention to the impact of agriculture on our environment and the ability of farmers to be successful…For these reasons, we made a commitment in 2014 to sustainably source our top ten priority ingredients by the end of 2020. These commonly used ingredients, which represent more than 40 percent of our annual raw material purchases, include cocoa, vanilla, oats, wheat, sugar beets, corn, milk, sugarcane, palm oil and fiber packaging.
Minnesota Wheat Leader “Pushing the Pause Button”
AgWeek – 01/28/2019
If you farm in northwest Minnesota — or grow wheat anywhere in the state — you almost certainly know Dave Torgerson. For three decades, he’s played a key role in the Minnesota wheat industry, serving as executive director of both the Minnesota Wheat Research and Promotion Council and the Minnesota Association of Wheat Growers. Now, Torgerson, 56, has announced his retirement from both positions, effective March 31.
Source: U.S. Wheat Associates