August 18, 2021
MN Wheat Weekly Update
USDA Weekly Crop Progress Report (MN) –
- 92% Harvest Complete – 3 wks ahead of Avg
- Top Soil Moisture: 46% very short, 38% short, 16% adequate, & 0% surplus
- Sub Soil Moisture: 43% very short, 41% short, 16% adequate, & 0% surplus
Other Items of Interest
Virtual September Marketing Seminar
Wednesday, September 15, 2021
4:00 – 6:30 pm
Details and to Register: https://bit.ly/2VDfsJv
NCTC Farm Business Management
Dr. Frayne Olson
AgCountry Farm Credit Services
A PROGRAM OF:
National Association of Wheat Growers (NAWG) Update
NAWG CEO Reflects on Wheat Quality Trip
- NAWG CEO Chandler Goule interviewed with Brownfield Ag News on Monday to provide a firsthand account of the severe drought, where the group would split up and visit about 110 farms a day in North Dakota, South Dakota, and Minnesota. Goule expressed that while growers expect low yields, they believe the wheat will still be of decent quality. To listen to the full interview, click here.
NAWG Signs Letter Calling for Climate-Smart Agricultural Practices in Infrastructure Legislation
- NAWG joined other leading agricultural organizations in signing a letter to House Speaker Pelosi and Minority Leader McCarthy and Senate Majority Leader Schumer, and Minority Leader McConnell that called for funding for climate-smart agricultural practices to be included in infrastructure legislation that is being developed. In the letter, support for working lands conservation programs including financial and technical assistance was emphasized for farmers and ranchers. Other key points stated included the need for rural broadband investment, a desire for a voluntary basis program that provides assistance to producers, and a concern for the impact of any tax policies that could adversely impact multi-generational farms.
Wheat Exports to China Increases
- Wheat exports benefitted from the commitments from Chinese buyers the week of July 16-22. China purchased 128,900 metric tons of wheat for the 2021-2022 marketing year during the week, which helped push the weekly total sales to all destinations to 515,200 tons. Click here to read more about China’s boost of wheat exports.
EPA Announces Next Steps with WOTUS
- At the end of last week, the U.S. Environmental Protection Agency (EPA) and the U.S. Department of the Army announced plans to revise the definition of “waters of the United States” (WOTUS) in an effort to ensure clean and safe water for all. The EPA committed to developing a definition that is both economically and environmentally safe. In addition, the EPA announced opportunities in August for stakeholders and the public to provide recommendations as they revise the definition. To read more about EPA’s announcement, click here. NAWG will be working through the Environment and Research Committee to develop comments on any proposed changes to the current Navigable Waters Protection Rule.
US Wheat Associates, Weekly Price Report – Michael Anderson
- This week, all wheat futures were up as the market absorbed data from the monthly USDA supply and demand report. The report showed large reductions in wheat supply in Canada and Russia fueling the wheat markets. CBOT soft red winter (SRW) futures rose 43 cents to close at $7.62/bu. KCBT hard red winter (HRW) futures were up 37 cents to end at $7.42/bu. MGE hard red spring (HRS) futures gained 28 cents to close at $9.44/bu. CBOT corn futures rose 13 cents to $5.68/bu. CBOT soybean futures were down 49 cents to close at $13.73/bu
- Commercial Sales: View the most recent USW Commercial Sales report here.
- This week’s U.S. wheat commercial sales of 293,100 (metric tons) MT were down 38% from last week’s 308,300 MT and in line with trade expectations of 250,000 MT to 550,000 MT. Year-to-date commercial sales for delivery in 2021/22 total 8.7 million metric tons (MMT), 18% lower than last year at the same time. USDA expects total 2021/22 U.S. wheat exports will reach 23.8 MMT, 12% lower than last year, if realized
The Pacific Northwest is experiencing another heatwave with temperatures in some areas exceeding 105°F (41°C). The hot temperatures and dry conditions are a concern for soil moisture. In Montana, Washington and Oregon, soil moisture is currently rated over 90% poor to very poor. Conditions in the Plains states saw little improvement as hot and dry weather is expected to continue into next week. As growers prepare for seasonal planting, concern is growing over soil moisture conditions which are in bad shape following prolonged dry conditions.
Figure 1 – Aug 10th Figure 2.2: Aug 5th
Weekly Harvest Report (Erica Oakley)
- The HRW harvest is nearly complete with data holding steady. SW harvest continues apace under hot, dry conditions; testing data are reflective of a stressed crop. HRS harvest is over 50% complete and initial sample data show test weight average of 62.0 lb/bu (81.5 kg/hl) and average protein 15.4% (12% mb). The northern durum crop is just under 10% harvested with variable yields reported.
- Click Here for Full Report