Wheat Industry News
News and Information from Around the Wheat Industry Speaking of Wheat “The big news in wheat was the hard red winter number — shock-and-awe for USDA to increase it that much. The average trade guess was 532 million bushels, so the number was way above what anybody anticipated. We had a broad-based increase in yields, […]
Wheat Industry News
News and Information from Around the Wheat Industry Speaking of Wheat “The international [grain] price in Ukraine will be on the level of the cost of production. Harvested grains and oilseeds will be level of 62 million (tonnes), exports about 40 million. We have only three seaports operating at capacity and [under the ‘fragile agreement’ […]
Surprising USDA Reports Top-Off a Volatile Week
The June USDA reports on Acreage and Stocks, released on June 30, 2023, made a significant splash on grain markets after an already volatile week. With no new fundamentals to trade, wheat prices found little insulation from movements in corn and soybean markets. From June 21 to June 30, Chicago Board of Trade corn futures […]
Wheat Industry News
News and Information from Around the Wheat Industry Speaking of Wheat “Without a trade agenda that also advances U.S. economic interests by addressing barriers to U.S. exports through free trade agreements, the United States will lose influence globally. Other countries welcome U.S. products and benefit from the two-way relationship that free trade agreements promote. The […]
The Wheat Marketing Year in Review
Final export commitment data for marketing year (MY) 2022/23 that ended May 31 is now available, providing an overview of the year’s export and demand trends. In this article, we will look back on the MY 2022/23 demand trends and current MY 2023/24 data to provide context for the year to come as the world […]
War Disruptions and Logistics Incentivize Imported European Wheat
The news that U.S. flour milling companies have imported European wheat has raised concerns and frustrations for U.S. wheat stakeholders. To an organization like U.S. Wheat Associates (USW) that with our state wheat commission members promotes exports on behalf of U.S. wheat farmers, such news is particularly disappointing. After all, U.S. farmers produce enough wheat […]
Optimism Emerges for U.S. Hard Red Spring Wheat
As the 2023/24 marketing year begins, the market awaits the outlook for the new crop harvest. Despite early concerns anticipating wet conditions and late planting similar to the 2022 crop year, hard red spring (HRS) planting progress has surpassed expectations. Rapid Planting Progress Spring wheat farmers have made incredible planting progress after a historically snowy […]
USDA Reports Provides First Look Into 2023/24 Crop Year
On May 12, USDA released its initial estimates for the 2023/24 marketing year (MY) year, providing the first glimpse into how the world wheat situation has shifted in response to political instability, inflation, climate variability, and the volatility seen in the last year. This article will examine key takeaways from the World Agricultural Supply and […]
2023 Wheat Tour Sees Short Crop; Black Sea Grain Deal Prevents Rally
As expected, the results of the 2023 Hard Winter Wheat Tour the week of May 15 confirmed the extremely short wheat crop in Kansas and surrounding states. Typically, the market reaction would be bullish. But 2023 is not a typical year, and the volatile uncertainty of the Black Sea conflict once again overshadowed basic supply […]
Competitive U.S. Soft Wheat Creates Buying Opportunity
Just one year ago, U.S. wheat prices hovered near record highs. The geopolitical ramifications of Russia’s invasion of Ukraine stoked supply concerns and fears of spiraling food price inflation, and India had just banned wheat exports, further fueling wheat supply fears. Flash forward to the week of May 2, 2023, Chicago Board of Trade soft […]