Rosario Stock Exchange Cuts Argentina 2019-20 Wheat Output 7% to 20 Mil MT
S&P Global – 10/10/2019 Argentina-based Rosario Stock Exchange has cut its projection for the country’s wheat production in 2019-20 to 20 million mt, 7% lower than the projection made in August, due to dry weather conditions. “The extensive dry period that covered the cold quarter and continues to spread over October has taken away the chances of wheat production reaching 21.5 million mt that was projected two months ago,” the exchange said. In 2018-19, wheat production in Argentina was 19 million mt, according to the exchange. The weather also affected wheat sowing, with the area of planting adjusted to 6.7 million ha, about 170,000 ha less than the earlier estimate and 3.7% lower than 2018-19.
U.S., China Set Sights on Mini Trade Deal, Ceasefire
The U.S. and China are kicking off a new round of trade talks Thursday in Washington and the pieces of a partial deal are already surfacing. Here’s what we know as negotiations get underway: Some of the offerings aren’t a huge surprise. Chinese officials are reportedly bringing pledges to buy 30 million tons of U.S. soybeans in the marketing year that started Oct. 1 — about the same amount it was purchasing annually before the trade war started. It may also offer to buy 300,000-400,000 tons of pork and 3-4 million tons of American wheat…Another interesting wrinkle appeared overnight. Bloomberg’s Jenny Leonard is reporting that the White House wants to roll out a previously agreed currency pact as part of a truce that would mean the U.S. suspends an Oct. 15 tariff increase.
A Foot of Snow is Forecast to Bury Crop in Great Plains, Canada
AgWeek – 10/08/2019
A large snowfall is set to sweep out of the Rocky Mountains later this week, bringing snow by the foot across the Dakotas, slowing wheat harvests and ending any chance for still-maturing corn crops to flourish. A foot (30 centimeters) or more will fall from southwestern South Dakota across central North Dakota Thursday into Friday, said Don Keeney, a meteorologist with Maxar in Gaithersburg, Maryland. The storm will eventually push into southern Manitoba in Canada, where it could affect canola harvests. “It will be a miserable day on Friday,” Keeney said. “A lot of the corn crop still hasn’t matured in the Dakotas so that is going to be the end of that.” Wheat harvests across the northern Plains and southern Prairies will also be affected, he said.
Thresher Elevator Plays Big Role in Wheat Crop
Bingham County Chronicle – 10/09/2019
Field after field of golden stands of wheat wave in the breeze throughout Bingham County come harvest time, and one might wonder what happens to those golden kernels, where they end up when harvest is over. The county ranks among the top 10 in wheat production in Idaho, and most of its wheat ends up at Thresher Artisan Wheat’s elevators west of Blackfoot. Thresher’s elevators are located west of Grain Craft, the flour mill that was known as Pendleton Mills when it first came to Blackfoot, which is handy because that’s where 70 percent of the wheat purchased from East Idaho growers ends up. Thresher Wheat manager Ken Morgan said the business contracts with growers throughout eastern Idaho, from the Utah border to the Montana border, an area that produces primarily Durum and hard red winter and spring wheat, and the bulk of their contracts are for irrigated wheat. He said while some goes for foreign exports, 90 percent of the wheat they buy is for domestic use in Idaho and throughout the U.S.
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Source: US Wheat Associates