October 5, 2021
MN Wheat Weekly Update
US Wheat Associates, Weekly Price Report – Michael Anderson
- All wheat futures were up for a third week in a row. CBOT soft red winter (SRW) futures were up 32 cents to close at $7.55/bu. KCBT hard red winter (HRW) futures were up 40 cents to end at $7.59/bu. MGE hard red spring (HRS) futures gained 13 cents to close at $9.29/bu. CBOT corn futures were up 15 cents to $5.26/bu. CBOT soybean futures were down 39 cents to close at $12.85/bu
Commercial Sales: View the most recent USW Commercial Sales report here.
- Net U.S. wheat commercial sales of 290,100 metric tons (MT) for delivery in 2021/22 were down 19% from last week’s 355,900 (MT) and within trade expectations of 250,000 MT to 550,000 MT. Year-to-date commercial sales for delivery in 2021/22 total 11.0 million metric tons (MMT), 21% 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.
- Across wheat-producing areas stretching from the northernmost state of North Dakota to the southernmost state of Texas and encompassing a wide area in between, abnormally warm weather enhanced the impact of already dry conditions. Parts of North and South Dakota, Montana, Nebraska, Kansas, Oklahoma, northern Texas, Colorado, and Wyoming all intensifying areas of drought
National Policy Update – Mariah Wollweber
Congress Averts a Government Shutdown
- Earlier today, Congress passed a continuing resolution (CR) that provides funding for the federal government through December 3, 2021. Included within the CR is $10 billion was for agriculture disaster, which extends WHIP+ for calendar year 2020 and 2021. A main component of this was a change to the drought assistance trigger, now requiring 8 consecutive weeks in D2 conditions. NAWG CEO, Chandler Goule, expressed his gratitude for the disaster aid and the aversion of a shutdown, but urged Congress to work together to fund the federal government beyond this continuing resolution. To get more information on the disaster aid component, click here, and to read the full NAWG press release, click here.
Vilsack Takes Action on Challenges Facing America’s Agricultural Producers
- Yesterday, Agriculture Secretary, Tom Vilsack, announced his Comprehensive Investment Package to support drought resilience and response, animal disease prevention, market disruption relief, and purchase of food for school nutrition programs. Vilsack also announced a new climate-smart practices funding initiative. The USDA published a Request for Information seeking public input about the new initiative, and specifically how they can best serve historically underrepresented producers. Insights gained from this will be considered in the creation of a Notice of Funding Availability (NOFA) seeking project proposals for the Climate-Smart Agriculture and Forestry Partnership Initiative. To read the full press release, click here.
Jayme White and Sarah Bianchi Confirmed by Senate for USTR Deputy
- Last week, the U.S. Senate confirmed Jayme White and Sarah Bianchi to serve as Deputy United States Trade Representatives. This week they will both be sworn in. White has spent 20 years working with American trade policy proving to be vital in almost every major trade issue or legislation. He has been with the Senate since 2009, being chief trade advisor since 2014. Bianchi has spent nearly ten years in economic and domestic policy. In 2011 she was appointed head of economic and domestic policy. She also served as Deputy Assistant to the President for Economic Policy, senior advisor to the Biden Institute at the University of Delaware, and several private sector roles. You can read the full press releases for White’s swearing-in and Bianchi’s confirmation here.
USDA to Host Special Virtual Data User’s Meeting to Gather Public Input on Statistical Programs
- On October 13 and 14, the USDA’s National Agricultural Statistics Service (NASS) will hold its Data User’s meeting. The meeting on October 13 will include agency updates and breakout sessions for participants to attend that will discuss in-depth topics. On October 14, participants will have an opportunity to ask any questions or offer any comments they may have. This will be followed by additional breakout sessions. This is a great opportunity for growers to stay up to date and be involved in the data that is distributed to the agriculture sector. To view more information and to register, click here.