Update – Looking Ahead to Winter Wheat Planted Area Estimates
USDA’s National Agricultural Statistics Service (NASS) will publish its first official estimate of U.S. winter wheat planted area for the 2023/24 crop on Jan. 12, 2023. Along with U.S. wheat importing customers, U.S. Wheat Associates (USW) will be watching trade estimates before the report is issued and make some comparisons to NASS estimates in 2022. […]
Quiet WASDE Includes Falling World Wheat Stocks
USDA released its December World Agricultural Supply and Demand Estimates (WASDE) report Dec. 9, 2022, that included no substantial changes for global and domestic wheat markets. Given the overall volatility in 2022, a somewhat calming report was probably a blessing in disguise for wheat buyers who should, however, keep an eye on declining global stocks […]
USW’s Crop Quality Seminars Successful in Highlighting 2022 Wheat Crop for Global Customers
Crop Quality Seminars presented by U.S. Wheat Associates (USW) concluded this week with a universal response by customers in every corner of the world: They are impressed by the high quality of the 2022 crop across all six wheat classes but concerned about the sustained higher prices. One other common opinion: Those attending in-person seminars […]
Surprising U.S. Small Grains Summary Report Added Market Volatility
With a significant decline in U.S. wheat production, the September 30, 2022, the USDA/NASS Small Grains Summary report took many wheat traders and analysts by surprise. The report estimated total production at 44.91 million metric tons (MMT) 1.65 billion bushels of total U.S. wheat production, down 3.62 MMT from August estimates. The quarterly report is […]
Headlines Keep the Global Wheat Market Bouncing
Grain buyers have the unenviable task of sorting through today’s news and determining what it means for tomorrow’s prices. Experienced buyers have plenty of tools to help with their decisions, but the volatility experienced in 2022 may be embedded for the near future. Talk of a global recession may soften commodity prices initially, but just […]
Dry Bulk Freight Rates Riding Rough Seas
This was supposed to be the year dry bulk freight vessel owners turned a profit, Jay O’Neil, a commodities consultant and author of a weekly transportation report recently commented. And U.S. Wheat Associates (USW) shared similar thoughts early in 2021. Instead, S&P Global Market Intelligence noted recently that freight rates for dry bulkers have fallen […]
USW’s Online Baking Program Putting U.S. Wheat ‘Top of Mind’ in South America
An online training series developed by U.S. Wheat Associates (USW) in the early days of the COVID pandemic continues to have success in its effort to educate South American bakers and millers about the value and quality of U.S. wheat. Specifically, the Online Baking Certification program promotes baking methods and processes that highlight all six […]
Export Opportunities Await U.S. Wheat, But ‘It’s Complicated’
Before providing a simple and straightforward description of the global wheat and grain markets, Mike Krueger paused to consider a handful of variables facing importers, exporters and producers. Then he used a word that is opposite of simple and straightforward. “It’s complicated,” Krueger told those attending the 2022 U.S. Wheat Associates (USW) World Staff Conference […]
Black Sea Grain Corridor, Weather and Harvest Pressure Wheat Prices
Russia’s unprovoked invasions of Ukraine sent already bullish wheat futures prices soaring earlier this year. However, the first grain vessel to leave Ukraine since Russia’s February invasion set sail on Monday, August 1. The ship, carrying 27,000 metric tons (MT) of corn bound for Lebanon, was able to sail nine days after Ukraine and Russia […]
What is the Outlook for World Durum Production?
Global durum production is expected to rebound in 2022/23, but stocks are likely to remain tight this season. Total durum production in 2022/23 is expected to increase 10% to 33.9 MMT, led by increases in the United States, Canada, and Mexico. While durum production in North America looks good, production across Europe and North Africa […]