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Articles of Interest- Monday, February 4, 2019

Articles of Interest- Monday, February 4, 2019

Rumors Signal Wheat Sale Action

The Western Producer – 01/31/2019

Wheat markets received a shot in the arm last week with reports that two big international customers would be purchasing large volumes of U.S. wheat..Steve Mercer, spokesperson for U.S. Wheat Associates, said the two reports are just rumours right now. “There is no confirmation that Egypt is going to take that much or even if they’re going to buy (any) U.S. wheat,” he said. “Everything about China is just rumour. We’re just watching and waiting. Who knows?” Mercer said Russian wheat is still on the market, but it is getting more expensive as exporters are forced to pull it in from further away. U.S. soft red winter and hard red winter wheat have become comparable in price to Russian wheat.

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Wheat Holds Support on Demand, Weather

Successful Farming – 02/01/2019

Wheat started the week a bit shaky, with pressure coming from a major miss in an Egyptian tender. We thought we were competitive in the key North African market but realized this week that we weren’t really all that close. On Tuesday, Egypt bought 360 TMT, 180 TMT from Romania and 180 TMT from France. The prices paid ranged from $261-265 delivered, which was down as much as $4/MT from their most recent purchase on January 8. U.S. offers were $10/MT over for soft red winter and $16/MT over for hard red winter. That surprised the market and futures sold off in response.

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Markets can Calibrate with U.S. Shutdown Over

Agweek – 02/03/2019

Wheat continues to have its small up-and-down moves that take the market nowhere. Thankfully, data on export sales will give the market some direction in the coming weeks. It is expected that demand has picked up for U.S. wheat as Russia slows sales. The U.S. Department of Agriculture will release updated supply and demand estimates on Feb. 8, along with winter wheat plantings. These reports will be critical for pricing in the weeks ahead.

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U.S.- China Trade War Talks: America Should Give China Room to ‘Fall’

Forbes – 02/02/2019

America has the upper hand in the US-China trade war talks. That’s according to a number of China observers, who see a bigger chance for China to blink before the US does. One of them is Jeff Yastine, senior equities analyst at Banyan Hill Publishing. “Both have hard reasons to want some kind of a rapprochement on the trade impasse,” says  Yastine. “But I give the upper hand to the US side as they meet late this week, despite the Trump administration’s bungling. While China aims to move its economy towards one based on consumption, much like the U.S., it’s not there yet.” Dan North, Chief Economist at Euler Hermes North America, agrees. “Tariffs are having a detrimental effect on both economies,” says North. “But it appears to be worse for China. And in that sense the tariffs may offer leverage in the negotiations. That approach worked in the NAFTA 2.0 negotiations.”

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CRISPR Could Make Wheat Safe for People with Celiac Disease

Genetic Literacy Project – 01/31/2019

Research in the Netherlands and at the National Institute of Agricultural Botany (NIAB) in the UK has found that gene-editing technology CRISPR-Cas9 can be used to remove epitopes from gliadin protein in gluten. Gluten, which is found in wheat grains, contains a mixture of glutenin and gliadin proteins. A majority of gliadins and a number of glutenins contain certain immunogenic epitopes that cause the allergic reaction responsible for celiac disease in susceptible individuals.

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Source: U.S. Wheat Associates