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Articles of Interest- Wednesday, February 27, 2019

Articles of Interest- Wednesday, February 27, 2019

Sygneta Pulls Back on Hybrid Wheat for U.S.

Farm Progress – 02/27/2019

For several years, Syngenta plant breeders have said they hoped to introduce hybrid wheat in the U.S., perhaps as soon as 2020. But now there’s word that Syngenta has shifted its hybrid wheat focus to Europe…U.S. Wheat Associates — the farmer-led trade organization that works to build wheat markets globally —supports hybrid wheat. “We know global demand for wheat is hitting new records every year, and farmers need the economic incentive increased yields would provide,” says Steve Mercer, U.S. Wheat’s spokesperson. “We must also support continuous quality improvement in wheat.”

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Egypt Agrees to First Wheat Purchase of 2019

World-Grain – 02/26/2019

he government of Egypt has reached agreement to acquire 400,000 tonnes of milling wheat from three companies: Bunge SA, Amropa AG and Archer Daniels Midland Co. The wheat is valued at $122 million, according to a Feb. 22 Global Agricultural Information Network (GAIN) report from the Foreign Agricultural Service of the U.S. Department of Agriculture. The USDA said the wheat is expected to originate from the Black Sea region and will be shipped in April/May. It will be Egypt’s first wheat purchase of 2019.

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Dry Conditions to Curb Australia’s Wheat Crop for 3rd Year

Reuters – 02/26/2019

Dry conditions for up to six months in parts of Australia’s east coast are set to curb wheat crop yields for a third straight year in the world’s No.4 exporter of the grain, a private U.S.-based weather forecaster said on Wednesday. Australia has been grappling with successive years of drought that have wilted crops and left some farmers struggling to stay in business. Declines in Australian wheat production in the 2019/20 crop year could buoy global prices that on Wednesday struck their lowest in 10 months.

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Russia Says No Grain Export Curbs Planned

Reuters – 02/27/2019

Russia, the world’s largest wheat exporter, does not plan to impose restrictions on grain exports, the Agriculture Ministry said on Wednesday, dismissing as untrue media reports that it had set quotas on exports for traders. Speculation that Russia could limit exports in the 2018/19 season, which lasts until June 30, has periodically supported global wheat prices in recent months, as at its regular meetings with big exporters the ministry is closely monitoring how they are faring given a lower 2018 crop. Earlier on Wednesday, Russian Vedomosti daily quoted trade sources and unnamed officials as saying that Russia had set informal grain export quotas to prevent traders shipping out an amount above the ministry’s export forecast.

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Texas Wheat Acres Likely to Perform Well Amid Falling Grain Prices

North Texas e-News – 02/27/2019

Wheat acres were expected to perform well in areas with moisture, but market conditions could mean tough decisions for grain producers, according to Texas A&M AgriLife Extension Service experts. Bill Thompson, AgriLife Extension economist, San Angelo, said there was concern Texas wheat acres would be down due to extremely wet fall conditions. However, National Agricultural Statistics Service data show planted acres across the state were level with 2018.  “North of Abilene, areas received 40 inches of rain in six weeks,” he said. “We were afraid a lot of farmers wouldn’t be able to get their fields planted. There may be individual farmers who didn’t get in, but it appears most did.”

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Source: U.S. Wheat Associates