WAWG
From Reuters Chicago wheat futures this week hit their lowest levels in almost three years, yet relative to demand, exportable global wheat supplies are expected to approach historic minimums by mid-2024. In theory, that news should limit further slippage in world wheat prices, but there is one problem: this is a recurring story that has yet to become reality. Read ... Read More »
Tag Archives: marketing
US soft white wheat production: It’s dry, but too early in harvest to determine 2023 yield
From the U.S. Wheat Associates Wheat Letter Amid this year’s volatile markets and relatively slow demand, U.S. soft white wheat (SW) has provided many customers with buying opportunities, positioning itself as one of the most competitive classes of U.S. wheat. In recent months, dryness in the Pacific Northwest (PNW) this spring dominated market news and discussions about quality. As harvest ... Read More »
Russia halts Black Sea grain deal
From dtnpf.com Russia on Monday declined to extend the year-old agreement that has allowed Ukrainian grain to move out of Black Sea shipping ports, a move that immediately drove up commodity prices in response. Read the rest of the article here. Read More »
U.S. Farmers Respond To Higher Wheat Prices By Planting More
From U.S. Wheat Associates Since Russia’s unprovoked invasion of Ukraine sent them soaring one year ago, global and U.S. wheat prices have decreased significantly. Continued Black Sea Grain Corridor exports and improved production outlook in major exporters such as Russia and Australia have helped relieve the market of some supply pressure. Bulk ocean freight rates have also broken in favor ... Read More »
Russia Resumes Ukraine Grain-Export Deal in Abrupt Reversal
From bloomberg.com Russia agreed to resume a deal allowing safe passage of Ukrainian crop exports, abruptly reversing course after Turkey and the United Nations pushed ahead with the shipments over Moscow’s objections. Wheat prices dropped on the news. Read the entire article here. Read More »
Portland container terminal expansion aims to boost farms exports
From the Capital Press The Port of Portland plans to increase the flow of Northwest agricultural exports and Asian consumer product imports by expanding its container terminal’s footprint. The port is investing $10.5 million to replace the pavement and stormwater drains on 10 acres adjacent to its Terminal 6 next year, which it hopes to parlay into further upgrades with ... Read More »
All wheat stocks stored in PNW down 43 percent from last year
From NASS All wheat stored in all positions on Dec. 1, 2021, in Washington totaled 82.6 million bushels, down from 147 million bushels a year ago. Off-farm stocks were down 44 percent, while on-farm stocks were down 38 percent compared to the previous year. In Idaho, wheat stored in all positions totaled 48.8 million bushels, down from 84.7 million bushels ... Read More »
Economist: High wheat prices unlikely to last
From the Capital Press With export demand down, this year’s high wheat prices may not last, a market analyst says. Read the rest of the article here. Read More »
Grain market is teetering on the top of a cliff, analyst says
From agriculture.com The grain market is wavering – like it’s teetering on the top of a cliff. Of course, we don’t know which side it will fall on (up or down), but it’s certainly going one way or the other. Read the rest of the article here. Read More »
Ag organizations remind appropriators to maintain export market development funding
American farmers and rural businesses need continued investment in the Market Access Program (MAP) and the Foreign Market Development (FMD) Program to make up for lost export opportunities in the pandemic and to fight foreign competition. That is the message the Coalition to Promote U.S. Agricultural Exports sent March 9, 2021, in letters to House and Senate Agricultural Appropriations Subcommittee ... Read More »