Russia’s Agriculture Ministry to Set Up New Grain Exporters’ Union
Successful Farming – 2/11/2019
The Russian wheat market witnesses further price growth. On average, export prices for Russian wheat closed the week up another $3-4/MT FOB in both deep-water and smaller ports. So, they reached a four-year high, reports UkrAgroConsult. The growth drivers include mostly domestic factors: – dwindling grain inventories. According to the Russian Statistics Service, farming, procuring and processing entities held a combined 38.5 MMT of grain as of January 1, or 16% less than last year.
Zimbabwe Millers Seek to Set Own Prices
World-Grain – 2/11/2019
The Grain Millers Association of Zimbabwe (GMAZ) recently applied to the Competition and Tariff Commission (CTC) to be allowed to set the prices of products under their purview rather than have it done by a government-appointed body, according to Newsday. The GMAZ, whose membership includes producers of baker’s flour, corn meal, self-raising flour, rice and salt, currently buys corn and wheat through the Grain Marketing Board at a subsidized price.
USDA Awards Agricultural Trade Promotion Program Funding
High Plains Journal – 2/11/2019
Secretary of Agriculture Sonny Perdue Jan. 31 announced the U.S. Department of Agriculture has awarded $200 million to 57 organizations through the Agricultural Trade Promotion Program to help farmers and ranchers identify and access new export markets. The ATP is one of three USDA programs created to mitigate the effects of unjustified trade retaliation against United States farmers and exporters. USDA’s Foreign Agricultural Service accepted ATP applications between Sept. 4 and Nov. 2—totaling nearly $600 million—from U.S. trade associations, cooperatives and other industry-affiliated organizations.
Washington Farmers Face Rising Costs in Ongoing Trade War
News Times – 2/10/2019
Washington farmers can expect a tougher year covering expenses even if political leaders finalize trade agreements with the countries that import apples, beef and wheat from the Evergreen State, a Washington State University professor said. Randy Fortenbery, an agriculture economics professor, delivered the economic forecast Wednesday at the Spokane Ag Expo and Pacific Farm Forum. He spoke at length about the troubling overall picture of the forces grinding against what has been a robust U.S. economy.
Trade Issues May Have Lasting Effects on Wheat
High Plains Journal – 2/8/2019
Current trade negotiations and retaliations could very well wind up having lasting effects on the future wheat trade, cautioned Frayne Olson, director of the Quentin Burdick Center for Cooperatives at North Dakota State University. Olson encouraged growers to pay heed to these issues and keep a seat at the negotiations table as part of his presentation at the 2019 Wheat U, sponsored by BASF and High Plains Journal Jan. 17, in Bismarck, North Dakota.“For the last several months, when I’ve been talking about trade and tariffs and crop marketing, the focus has been on soybeans since they’re most directly impacted by this tariff stuff,” Olson said. “But as to trade issues with wheat, there are some immediate things that may happen in the next few months that will impact wheat markets. But most are longer term issues that will unfold over the next few years.”
Source: U.S. Wheat Associates