Articles of Interest- Friday, October 11, 2019
October 11, 2019
Argentina 2019-20 Wheat Output May Dip on Weather Woes, Likely Hit Exports
S&P Global – 10/11/2019
A sharp dip in Argentina’s wheat crop production due to consistently dry weather conditions in central and southern parts of the country could eventually squeeze its export volumes in the 2019-20 marketing season (December-November), industry sources told S&P Global Platts. Argentina is the world’s sixth-largest wheat exporter and ninth-largest producer, according to data from the US Department of Agriculture. Wheat crop for the 2019-20 marketing season is now expected to slip to 18-19 million mt from 21 million mt projected previously, as rains in western areas have disappointed, an Argentina-based analyst told Platts. Moisture requirements in key wheat regions are at the highest levels, he added. The Buenos Aires Grain Exchange Thursday cut down Argentina’s 2019-20 wheat production to 19.8 million mt, citing lack of rains and cold weather.
Vice President Pence Demands Passage of USMCA This YEar
Successful Farming – 10/09/2019
U.S. Vice-President Mike Pence stopped in Iowa Wednesday to promote the passage of the USMCA trade agreement. It’s a trade pact between the U.S., Canada, and Mexico that has bipartisan support in Congress, yet it is blocked by House Majority Leader Nancy Pelosi.
U.S. Trade Representative Robert Lighthizer, with the support of President Donald Trump, successfully renegotiated the North American Free Trade Agreement (NAFTA) resulting in the creation of the USMCA. Critics of the agreement worry that the terms don’t sufficiently protect U.S. labor provisions. Specifically, if Mexico fails to follow through with the USMCA labor laws, U.S. factories could be forced to close and those jobs would end up in Mexico. Vice President Mike Pence challenged Iowa farmers, here, to press their members of Congress to get the USMCA passed. “Turn up the heat on them and tell them to pass the USMCA, this year! Call these people,” Pence says.
Day 1 of U.S- China Trade Talks End With Hopes for Limited Deal
Reuters – 10/10/2019
Top U.S. and Chinese negotiators wrapped up a first day of trade talks in more than two months on Thursday as business groups expressed optimism the two sides might be able to ease a 15-month trade war and delay a U.S. tariff hike scheduled for next week. U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer met with Vice Premier Liu He and other senior Chinese officials for about seven hours at the USTR’s headquarters near the White House.
“We had a very, very good negotiation with China,” U.S. President Donald Trump told reporters after the talks concluded. He reiterated his plans to meet with Liu at the White House on Friday, regarded as a good sign. A White House official said talks had gone very well, “probably better than expected.”
Falling Number Tests Increase in Importance
The Western Producer– 10/10/2019
With significant amounts of weather-damaged wheat filling grain bins across the West this year, farmers will be looking for any advantage they can find when it comes time to market this year’s crop. That means getting an accurate assessment of grade and falling number will be more important than ever in determining the crop’s value. Daryl Beswitherick, program manager with the Canadian Grain Commission, said farmers are still harvesting this year’s crop so wheat samples submitted to the commission’s harvest sample program have been slow to arrive.
Source: U.S. Wheat Associates