Paris Wheat Curbed by Egypt Tender, German Premiums Rise Again
Reuters – 11/14/2019
Euronext wheat futures were flat to lower in afternoon trading on Thursday, giving up earlier gains as competitive offers of Black Sea wheat in an Egyptian tender tempered recent export optimism in France. Physical premiums in Germany rose again, however, on the back of a run of export sales, traders said. Benchmark December milling wheat on the Paris-based Euronext exchange was unchanged on the day at 177.50 euros ($195.61) a tonne by 1633 GMT. It rose by one euro in morning trade as the overnight announcement of a new tender by Egypt, the world’s top wheat importer, raised the prospect of fresh demand. However, offers during Thursday’s tender showed French wheat was less competitive than Russian and Ukrainian supplies. “Paris wheat was pressured by the low chances for France in this tender,” a futures dealer said. “Russia appears to be more willing to sell and France seems less competitive than in previous weeks.”
Duvall: Farmers and Ranchers Need USMCA
AgriNews – 11/14/2019
Farmers and ranchers are anxiously awaiting the news that the United States-Mexico-Canada Agreement is on its way to Congress for a vote of ratification and that Congress will get it done quickly. Nearly every day, the question comes up in conversations with farmers and Farm Bureau leaders: When is USMCA going to get done? USMCA was signed by all three countries almost exactly one year ago — on Nov. 30, 2018. In the months since then, the Trump administration and House Speaker Nancy Pelosi and others in Congress have been negotiating the details of congressional consideration, and we keep hearing that they’re close to a decision about how to move things forward.
Nancy Pelosi Says a USMCA Trade Deal Breakthrough Could be ‘Imminent’
CNBC – 11/14/2019
House Speaker Nancy Pelosi indicated progress Thursday toward a final agreement on President Donald Trump’s North American trade deal replacement. House Democrats have negotiated with the Office of the U.S. Trade Representative as they push for better tools to enforce labor and environmental standards under the United States-Mexico-Canada Agreement. Speaking to reporters, the California Democrat said “we are moving positively” toward a deal. “I do believe that if we can get this to the place it needs to be, which is imminent, that this can be a template for future trade agreements. A good template,” Pelosi said. Democrats plan to hold a caucus meeting later Thursday, during which they are expected to discuss trade negotiations.
Brazil’s Tariff Rate Quota for Wheat a Win for U.S. Farmers
Missouri Ag Connection – 11/15/2019
U.S. Trade Representative Robert Lighthizer and U.S. Secretary of Agriculture Sonny Perdue Thursday welcomed Brazil’s implementation of an annual duty-free tariff rate quota (TRQ) of 750,000 metric tons (MT) of wheat imports. For many years, Brazil failed to implement its obligation under the WTO to establish a TRQ for wheat. Brazil’s implementation of this TRQ fulfills a commitment made by President Bolsonaro earlier this year and reflects a desire to deepen trade and economic ties between both countries. “This solution to a long-standing problem is a result of the Administration’s advocacy for American farmers and will allow our wheat exporters to compete on a level playing field,” said Lighthizer. “We look forward to increased exports of American wheat to Brazil.” erdue said, “American farmers can compete with anybody when given access to customers. This is why we are working tirelessly to knock down barriers to our exports, like high Brazilian tariffs on our wheat. We are excited about the additional export opportunity U.S. wheat farmers will have with the opening of this TRQ.
CropLife Calls for Clarity on Gene-Editing Regulations
The Western Producer – 11/14/2019
Canada is falling behind other jurisdictions in providing clarity on how it will regulate new crop varieties developed through gene editing techniques such as CRISPR, says CropLife Canada.
Japan’s consumer affairs agency recently decided it will not require special labelling for products created through the new breeding technique because it does not require the introduction of foreign DNA. Japan joins a growing list of countries such as the United States, Australia, Argentina and Chile that do not plan to give any extra scrutiny to new traits resulting from gene editing.
At the other end of the spectrum is the European Union. The Court of Justice of the European Union ruled July 25 that gene editing must be regulated the same way as genetic modification.
Source: U.S. Wheat Associates