USDA Report Shows U.S. Wheat Farmers Have What the World Needs
By Stephanie Bryant-Erdmann, USW Market Analyst In its June World Agriculture Supply and Demand Estimates (WASDE), the U.S. Department of Agriculture (USDA) noted that global wheat consumption is expected to exceed global wheat production for the first time since 2012/13 (June 1 to May 31). USDA estimated 2018/19 global wheat consumption at a record 751 […]
Drought and U.S. Rail Rates Prop Up U.S. Export Prices
By Stephanie Bryant-Erdmann, USW Market Analyst Since the beginning of the calendar year, export cash prices for hard red winter (HRW) wheat prices have rallied an average 73 cents at the Gulf across all protein levels. However, export cash prices are made up of two components — wheat futures and export basis. Most of the […]
USW Harvest Reports Now Posting Every Friday
Generally cool spring conditions delayed the start of the 2018/19 U.S. winter wheat harvest, but the combines are now in the fields and U.S. Wheat Associates (USW) published a preliminary Harvest Report on May 25. USW Harvest Reports are published every Friday afternoon, Eastern Daylight Time, throughout the season with updates and comments on harvest […]
Even with Lower HRW Outlook, U.S. Wheat Production Called Up for 2018/19
By Stephanie Bryant-Erdmann, USW Market Analyst With the small, stressed hard red winter (HRW) wheat crop getting the lion’s share of attention, it was an initial surprise to read in USDA’s May World Agricultural Supply and Demand Estimates (WASDE) that U.S. wheat production is expected to increase to 49.6 million metric tons (MMT) in 2018/19. […]
Chinese Wheat Stocks Mask Tight Stocks to Use Ratio
By Stephanie Bryant-Erdmann, USW Market Analyst On May 10, USDA forecast the 2018/19 global wheat supply to hit a record 1,018 million metric tons (MMT) despite the expectation that global wheat production will fall for the first time in 5 years to 748 MMT. At the same time that global wheat production is expected to […]
Wheat Tour Scouts Expect Sharply Lower 2018/19 Production
By Stephanie Bryant-Erdmann, USW Market Analyst This week I joined the annual Wheat Quality Council (WQC) Hard Red Wheat (HRW) Tour for an early survey of the new crop. Each year, participants gather in Manhattan, Kan., and spend the next two and a half days in small scout teams, randomly stopping at 14 or more […]
Competing for Acres: 2018/19 Global Wheat Production to Fall
By Stephanie Bryant-Erdmann, USW Market Analyst At first glance, the USDA April 10 World Agricultural Supply and Demand Estimates (WASDE) held very few surprises for wheat. Most reviewers would consider this a bearish report with another increase in predicted U.S. and global wheat ending stocks. However, a somewhat unnoticed factor was increased global wheat feed […]
Global Perspective on Wheat Trade
By Vince Peterson, USW President U.S. Wheat Associates (USW) President Vince Peterson traveled to Australia last month to speak to an Australian farmer organization about what the future might hold for wheat farmers around the world. His message was far more upbeat than might be expected at a time when U.S. wheat planted area is […]
As Always, Weather Is the Wildcard for U.S. Wheat Planting and Production
By Stephanie Bryant-Erdmann, USW Market Analyst According to the March 29 USDA Prospective Plantings report, U.S. total spring-planted area will jump to an estimated 14.1 million acres (5.71 million hectares), 12 percent above 2017/18, if realized. The estimate includes 12.1 million acres (4.90 million hectares) of hard red spring (HRS), up 17 percent from 2017, if realized. […]
Global Winter Wheat Condition a Mixed Bag
By Stephanie Bryant-Erdmann, USW Market Analyst The end of March heralds not only the beginning of spring — a crucial time for both winter and spring wheat production — but also the first round of winter wheat condition reports. Black Sea — Snow across Russia and Ukraine is providing much needed protection from the recent […]