October 27, 2021
MN Wheat Weekly Update
MN WHEAT JOB OPPORTUNITY – PROJECT LEAD – The position of Project Lead is a dynamic role with a variety from day-to-day. This position works in three primary areas: 1) Agronomy/Research 2) Communications/Coordination and 3) Office Support. For more information click here or email email@example.com.
Last June The legislature appropriated $100,000 each year for the next two years for the program and MDA is now taking applications for the current fiscal year. This program reimburses 75% of eligible safety equipment expenses up to $400 per bin or silo with a limit of $2,400 per farm. The following link gives information on what type of safety equipment can be reimbursed and who can apply.
US Wheat Associates, Weekly Price Report – Michael Anderson
Wheat futures were mixed this week. CBOT soft red winter (SRW) futures were up 22 cents to end at $7.56/bu. KCBT hard red winter (HRW) futures were up 31 cents to end at $7.74/bu. MGE hard red spring (HRS) futures decreased 3 cents to close at $10.13/bu. CBOT corn futures were up 13 cents to $5.38/bu. CBOT soybean futures were up 4 cents to close at $12.21/bu.
Commercial Sales: View the most recent USW Commercial Sales report here.
Net U.S. wheat commercial sales of 362,400 metric tons (MT) for the week of October 14 for delivery in 2021/22, were down 36% from last week’s 567,600 (MT) and in line with trade expectations of 250,000 MT to 650,000 MT. Year-to-date commercial sales for delivery in 2021/22 totaled 12.3 million metric tons (MMT), 20% lower than last year at the same time. USDA expects a total of 2021/ 22 U.S. wheat exports will reach 23.8 MMT, 12% lower than last year if realized.
Rainfall in Oklahoma and Texas helped alleviate some drought conditions, though southeast Oklahoma remains abnormally dry and west Texas moderately to severely dry. Precipitation also helped improve conditions in western Minnesota. Widespread showers helped diminish short-term drought conditions across much of the High Plains excluding the northwest corner of North Dakota where extreme drought continues. Above-average rainfall was recorded in Oregon and Washington while recent rain in Montana slightly reduced the drought intensity.
Figure 2 – Oct 21st
National Policy Update – by: Mariah Wollweber
NAWG Joins Supply Chain Public Comment
NAWG joined other members of the Ag CEO Council in providing public comments to President Biden’s Executive Order on America’s Supply Chains. The public comment highlighted the serious disruption experienced across the agricultural sector and how they are negatively impacting our sector. Specifically, the public comment focuses on ongoing issues related to labor, barges, ports and shipping containers, trucking and rail freight, fertilizer, chemical inputs energy, equipment and parts, and water availability. To read the letter, click here
NAWG Joins Industry in Support of Elaine Trevino’s Nomination
NAWG, along with almost 170 others, signed a letter supporting Elaine Trevino’s confirmation as Chief Agriculture Negotiator at the Office of the U.S. Trade Representative, that was sent to Senate Finance Leadership. The letter highlighted Trevino’s extensive agriculture background and understanding of the critical needs of the agriculture sector as it pertains to foreign markets and the overall sector’s prosperity. It also encouraged the Senate Finance Committee to expedite this nomination as Trevino will be essential to maintaining foreign market access, reducing market barriers, and other critical goals of the agricultural and food sector. For more information, click here.
NAWG Advocacy Campaign
As Congress continues to navigate reconciliation, NAWG’s advocacy campaign is still active. To send a letter to your federal legislators, click here. In addition, we strongly encourage all of our states to participate. It is still a critical time to make our voices heard and protect family farms and farmers.
Farmer for Free Trade Host Roundtable on Trade, Supply Chains, and Tariffs:
Last week, Farmers for Free Trade hosted a virtual roundtable with farmers and workers from throughout the food and ag supply chain to discuss the current trade landscape, supply chain challenges, tariffs, and the Biden administration’s trade agenda. The panelists discussed how the continuation of the previous administration’s tariffs is driving up the cost of inputs and equipment, the need for trade deals that provide access to export markets, and concerns that global competitors are pursuing trade deals that put them at an advantage, particularly in Asia. To read an article about the event, click here, or watch it on YouTube here.
House Agriculture Committee Business Meeting and Hearing on Biotechnology
Earlier today, the House Agriculture Committee held a hearing business meeting where it considered several pieces of legislation related to 1890 institutions, chronic wasting, and forestry issues. Additionally, it was announced this week that the committee would hold a hearing on Tuesday, October 26, at 10 am, which is titled “Agricultural Biotechnology: 21st Century Advancements and Applications. For more details and instructions on how to rewatch today’s hearing, or tune in to next week’s hearing, click here.