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Articles of Interest- Friday, March 1, 2019

Articles of Interest- Friday, March 1, 2019

WTO Rules Againt China on Wheat and Rice Subsidies

Agri-Pulse – 02/28/2019

In a major victory for U.S. farmers, the World Trade Organization ruled on Thursday that China was improperly propping up its wheat and rice farmers by maintaining artificially high prices for their crops. The ruling by a WTO panel that China had exceeded WTO limits for domestic farm supports brought cheers from U.S. lawmakers, the Trump administration and farm groups. “U.S. farmers have been hurt by China’s overproduction and protectionist measures for too long and it’s past time for China to start living up to its commitments,” said U.S. Wheat Associates President Vince Peterson.

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Australia’s East Coast Faces Sweltering 3 Months in Blow to Wheat Output

Reuters– 02/27/2019

ustralia’s east coast will endure hot, dry weather over the next three months, the country’s weather bureau said on Thursday, threatening wheat production in the world’s fourth-largest exporter. Australia’s east coast has only a 20 percent chance of receiving average rainfall between March 1 and May 31, the Bureau of Meteorology said. The bureau also forecast an 80 percent chance that nearly all of Australia will experience above average temperatures over the same period. The forecast darkens the outlook for Australia’s wheat production, with farmers preparing to sow crops in less than two months. Farmers will have to abandon their planting intentions or sow into dry soils in the hope of a break in the weather, analysts said.

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Russia has 4-5 MLN T of Old-Crop Wheat to Export

Reuters – 02/27/2019

Russia, the world’s biggest wheat exporter, still has a surplus of 4 million to 5 million tonnes of old-crop of the grain for exports, a leading exporter of Black Sea grain cargoes said on Wednesday. The market has been expecting the Black Sea Region suppliers, mainly Russia and Ukraine, to run out of surpluses after a hectic export programme in the second half of 2018, creating room for the United States to sell some of its large inventories. “Russia will be exporting old-crop wheat not just in April but even in July,” said the trader who declined to be identified as he was not authorised to speak to media. “Russia exports most of the wheat from the south but much of this surplus wheat is lying anywhere but the south. So exports will depend on pace of moving the cargoes and prices.”

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Lighthizer Cautious About China Trade Progress

Hoosier Ag Today – 02/28/2019

At a hearing with the House Ways and Means Committee this week, U.S. Trade Representative Robert Lighthizer said it’s unclear if negotiations with China will bring the trade war to an end. Politico says that’s a far more cautious outlook than President Trump has presented recently. Lighthizer says “much still need to be done” before a deal can be reached between the two countries. He also warned that negotiations, as well as the broader U.S. trade agenda, will crumble if Congress doesn’t pass the U.S.-Mexico-Canada Trade Pact.  “It just has to pass,” Lighthizer says. “If it doesn’t, you’ll have no credibility at all with China and you’ll have no credibility on any deals with your other trading partners.”

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Oklahoma Wheat Farmer Jimmie Musick Wrapping Up Year of Service as President of the National Association of Wheat Growers

Oklahoma Farm Report – 03/01/2019

For the past three years, Musick has been working his way through the officer chairs for the National Association of Wheat Growers- serving over the last twelve months as the President of the group. He will hand over the reins of NAWG at the end of Commodity Classic now underway in Orlando, Florida. Before he steps down- he will be on stage at the Friday General Session of the annual gathering of farmers from across America- as he discusses the status of US Agriculture with other commodity organization Presidents- and then with US Secretary of Agriculture Sonny Perdue, who will be speaking to the Classic audience at that same General Session.

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Source: U.S. Wheat Associates