News from the Global Wheat Industry
Speaking of Wheat
“It’s a history that our farmers are very proud of … knowing they help to feed people and develop goodwill around the world. And in having a mechanism like WFP that can get the commodities to hungry people in challenging situations in a very responsible, efficient, and accountable way.” – Justin Gilpin, CEO, Kansas Wheat, in an article published by the World Food Programme.
USW President Vince Peterson Profiled in Capital Press
U.S. Wheat Associates (USW) President and CEO Vince Peterson is retiring at the end of July after 40 years with the export market development organization. Capital Press correspondent Matthew Weaver recently shared Peterson’s retrospective look at the global wheat market and his positive outlook for the future. Peterson also thanked wheat farmers for the opportunity to work for them for so many years. “I can’t think of another group that is more tolerant, more risk-averse, more positive in their outlook and optimism,” he said. “I think [their] perseverance is going to pay well going forward.” Read more here.
Tom Cannon Appointed to Oklahoma Wheat Commission Board
Oklahoma Secretary of Agriculture Blayne Arthur recently appointed Tom Cannon to a five-year term on the Oklahoma Wheat Commission board. Cannon, a wheat producer from Blackwell, is one of the farmers featured in USW’s Stories of Stewardship video series. Cannon will fill the position held for many years by Don Schieber, of Ponca City, a Past USW Chairman. “We are excited that Tom Cannon has been appointed to the OWC board,” said Mike Schulte, OWC executive director. “His firsthand knowledge and experience with wheat production, along with his leadership in environmental stewardship … are all valuable qualities that make him well-suited for this position.” Read more here.
State Commissions Welcome Customers in June and July
State wheat commissions in Ohio, Oklahoma, Kansas, Nebraska, Montana, Washington, Oregon, and Idaho will host five teams of customers during prime wheat harvest season. Teams from South America, Japan, Korea, and the Philippines. USW offices work closely with state commissions to plan and host these important annual visits as part of trade service to the world’s wheat buyers. Thank you to all 17 of our state commission members for such enthusiastic support.
U.S. Farmers More Optimistic in Face of Challenges
World Grain reports that sentiment among U.S. farmers improved for the second consecutive month in May. The Purdue University/CME Group Ag Economy Barometer rose 10 points, up from 148 in April. Low commodity prices and continued high input costs remain. Yet the report noted that “producers’ more optimistic view of U.S. agricultural trade prospects, combined with an improved farm income outlook, appeared to be the primary drivers behind the improvement in sentiment.”
Wheat Breeding Research Improves Productivity
Dr. Jessica Rutkoski, a small grains breeder at the University of Illinois, says investment in wheat research is paying off in improved varieties. “Through our breeding efforts the yield has been improving within our [soft red winter wheat] program by half a bushel per acre per year.” She tells Brownfield Network it means farmers can grow more with less, but the advancements wouldn’t be possible without stable, sustained funding. Illinois wheat farmers recently approved the first wheat checkoff program to help fund research and promote wheat demand.
RaboBank: Wheat is Most Consumed Grain with Slower Trade Growth
Grains and oilseeds trade continues to grow steadily, reaching around 880 million metric tons in 2023/24 and an estimated value of $330 billion, according to the sixth edition of the RaboResearch Global Grains and Oilseeds map. The report notes that wheat is the most widely consumed and produced staple crop while global wheat imports have grown at a slower pace than other crops, just 3% CAGR compared to corn’s 4%, palm oil’s 4% and soybeans’ 6%.
“Overall, the wheat market is highly fragmented when it comes to production, imports and exports, and the number of players,” said Vito Martielli, Senior Analyst – Grains and Oilseeds for RaboResearch. Read more here.
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