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MN Wheat Weekly Wheatsource

MN Wheat Weekly Wheatsource

January 27, 2021
MN Wheat Weekly Update

National Association of Wheat Growers (NAWG) Update
(Caitlin Eannello)

2021 NAWG/USW Annual Conference, February 22-25, 2021

  • Due to COVID-19, NAWG has combined its Winter Conference and annual meeting at Commodity Classic into one Annual Conference. The 2021 NAWG/USW Annual Conference will be a hybrid event. For a copy of the agenda, to book your housing, and for complete details, visit NAWG’s website here.

U.S. Department of Agriculture Announces Key Staff Appointments

  • On January 20, 2021, the USDA announced the names of individuals who will hold senior staff positions in Washington, D.C. Read the release here

USDA Announces Details of the 2021 Agricultural Outlook Forum Program 

  • The U.S. Department of Agriculture (USDA) announces details of the 97th annual Agricultural Outlook Forum, which will be held virtually on February 18-19, 2021. The Forum’s program will begin with a presentation by USDA’s new Chief Economist, Dr. Seth Meyer, on the Department’s outlook for U.S. commodity markets and trade for 2021 and the U.S. farm income situation. A keynote address by the incoming Agriculture Secretary, presentations by Congressional leaders, and a session on genetic literacy are also scheduled for the morning on the first day of the Forum.

Hill and Administration outreach update

    • NAWG intends to have communication to the Hill where we will introduce/reintroduce new and returning Members to NAWG, wheat production in the U.S., and highlight several important policy topics, including economic conditions in wheat country, the importance of trade, defense of pesticides, and sustainability activities farmers are already doing. 
  • NAWG staff will begin holding meetings, and we will hold a virtual fly-in in early March to communicate priorities that come out of our annual conference.
  • In addition to engaging Congress, we will also be meeting with Administration officials, including continuing to hold meetings with career officials as well as to meet with political appointees as they come into place.

US Wheat Associates, Weekly Price Report – Claire Hutchins

  • Technical selling and profit-taking pressured all wheat futures prices week-over-week. CBOT soft red winter (SRW) futures fell 41 cents on the week to close at $6.34/bu. KCBT hard red winter (HRW) futures dropped 30 cents to end at $6.13/bu. MGE hard red spring (HRS) futures lost 31 cents to close at $6.12/bu. CBOT corn futures fell 31 cents to end at $5.00/bu. CBOT March soybean futures dropped $1.05/bu to end at $13.12/bu

Commercial Sales

  • This week’s commercial sales of 330,000 metric tons (MT) for delivery in 2020/21 were up 49% from last week’s 222,000 MT and in line with trade expectations of 250,000 MT to 600,000 MT. Year-to-date commercial sales now total 21.4 million metric tons (MMT), 5% ahead of last year’s pace. USDA forecasts total U.S. wheat exports will reach 26.8 MMT in 2020/21, 2% ahead of last year, if realized. 
  • View the most recent USW Commercial Sales report here.

Other Items of Interest

The Minnesota Invasive Terrestrial Plants and Pests Center at the University of Minnesota has a new wheat pest project that may be of interest to you. 

Identifying hybrid barberry: This work will detect Berberis ×ottawensis, the hybrid of common barberry and Japanese barberry which can host cereal rust diseases that threaten wheat and small grain production. It will develop cost-effective molecular diagnostic tools to identify barberry hybrids across Minnesota. Learn more here