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Articles of Interest- Friday, September 13, 2019

September 13, 2019

Articles of Interest US Wheat Associates

Wheat Opens Up in Brazil

The Western Producer – 09/12/2019

Canada is unlikely to be a big beneficiary of the gradual opening up of the wheat trade in Brazil.
Brazil’s wheat industry group Abitrigo said the country is poised to introduce a tariff-free import quota of 750,000 tonnes per year that can be filled by any country starting in 2020, according to a Reuters report. Brazil typically imports seven to 7.5 million tonnes of wheat annually, making it a top-five buyer of the grain. Most of its needs are filled by neighbouring Argentina, which has tariff-free access to the Brazilian market as a member of the Mercosur trade bloc. Other exporters pay a 10 percent tariff. Brazil agreed earlier this year to create a tariff-free quota of 750,000 tonnes for other exporters in response to pressure from the United States. Abitrigo indicated it will be in place by the end of 2019.

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US Wheat Net Export Sales Nearly Double on Week, Philippines Books Large Order

S&P Global – 09/13/2019

US wheat net export sales totaled 610,948 mt in the week-ended September 5, up 95.8% week on week led by large bookings from the Philippines, latest data from the US Department of Agriculture showed Thursday. The latest weekly sales were above market expectations. Analysts had estimated sales in the range of 250,000-600,000 mt. The Philippines booked the largest volume during the week, with net export sales hitting 109,000 mt, followed by Mexico’s 91,900 mt. Physical wheat exports — those which have been shipped from the US — totaled 404,419 mt in the week, according to the USDA report. Thailand recorded the largest shipment volume for the week at 58,400 mt. Total commitments — cumulative exports plus outstanding sales — rose 4% on the week to 12 million mt in the week-ended September 5. Marketing year to date, US wheat exports totaled 6.9 million mt, 21.5% higher than a year earlier. US wheat’s new marketing year began June 1. Total wheat sales to the Philippines reached 1.4 million mt in the marketing year-to-date period, according to US Wheat Associates data.

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Trump Favors ‘Whole Deal’ with China, Two Sides Prepare for Trade Talks

Reuters – 09/12/2019

President Donald Trump said on Thursday he preferred a comprehensive trade deal with China but did not rule out the possibility of an interim pact, even as he said an “easy” agreement would not be possible. “I’d rather get the whole deal done,” Trump told reporters at the White House. “I see a lot of analysts are saying an interim deal, meaning we’ll do pieces of it, the easy ones first. But there’s no easy or hard. There’s a deal or there’s not a deal. But it’s something we would consider, I guess.”
The president’s remarks came as the world’s two largest economies prepare for new rounds of talks aimed at curbing a more-than-year-long trade war that has hurt global economic growth and rattled financial markets. The two sides have been making conciliatory gestures ahead of the talks, lowering the temperature between them and cheering investors. China renewed purchases of U.S. farm goods, which the United States welcomed, and Trump delayed a tariff increase on certain Chinese goods by two weeks in honor, he said, of Chinese President Xi Jinping.

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NAWG Participates in Widely Attended Rally Supporting USMCA on Capitol Hill

NAWG – 09/12/2019

Today, Farmers for Free Trade held a rally on Capitol Hill to raise support for the U.S.-Mexico-Canada Agreement (USMCA). Members of Congress, including House Agriculture Committee Chairman Collin Peterson and Ranking Member Mike Conaway, as well as farm leaders attended the event to discuss how USMCA provides growers with improved market access while maintaining the zero-tariff platform. With NAWG being a member of Farmers for Free Trade, President Ben Scholz was slated to provide brief remarks during the rally. “Over the past five years, Mexico has consistently been the top market for U.S. wheat exports,” stated NAWG President and Lavon, Texas wheat farmer Ben Scholz. “USMCA retains tariff-free access to imported U.S. wheat for our long-time flour milling customers in Mexico. Further, the Agreement takes an important step towards fixing the Canadian grain grading system which automatically designates U.S. wheat imported as the lowest grade wheat which puts America’s wheat growers at a competitive disadvantage.”

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Falling Number a ‘Mild to Moderate Problem’ This Year

Capital Press – 09/12/2019

Wheat growers are seeing “mild to moderate” problems with low falling number test results in pockets of Central Washington. “If you take a discount, maybe you don’t call it mild,” said Camille Steber, a USDA Agricultural Research Service molecular geneticist in Pullman, Wash. Falling number is a test that measures starch damage in wheat that reduces the quality of baked goods and noodles. In the test, grain inspectors measure the time it takes two pins on a falling number machine to fall through a ground wheat-water slurry, measuring viscosity. A test result of 300 means it took that many seconds to reach the bottom. Farmers may receive a discounted price for grain with low falling numbers because quality is compromised. Some grain elevators are discounting for low falling numbers, although the amount varies, said Glen Squires, CEO of the Washington Grain Commission.

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Source: U.S. Wheat Associates

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