Harvest and Much Improved Conditions Pressure U.S. Soft White Market
Volatility remains the key word when looking at wheat prices, and the soft white (SW) market is no exception. From their rapid increase following the severe drought in 2020/21 and the Russian invasion of Ukraine in March 2022, U.S. wheat futures have declined recently and were down more than 4% on July 5, hitting a […]
Export Bans Contrast with U.S. Wheat’s Commitment to an Open, Transparent Market
Consumers and suppliers both appreciate uniformity, the ability to purchase a reliable product that is available when needed. Customers of U.S. wheat know that dependable people grow and supply reliable wheat, which marks the difference between the U.S. wheat market and some competing suppliers. Freedom to Trade Free trade has been upheld in U.S. commerce […]
Scenes From A Variable but Smaller Kansas Wheat Crop
The anxiously awaited Hard Winter Wheat Tour sponsored by the Wheat Quality Council that ended May 19, confirmed that persistent drought will cut the yield potential of the 2022 Kansas wheat crop to its lowest level since 2018. The 83 participants scouting the crop estimated the average yield potential at 39.7 bushels per acre (52.71 […]
War is Just the Latest Factor Behind Higher World Food Prices
Low-income consumers in import-dependent countries will face the greatest hardships as the unprovoked Russian invasion of Ukraine and other factors push world food prices higher. That is one conclusion from a USDA Foreign Agricultural Service (FAS) analysis released in April. U.S. Wheat Associates (USW) is a cooperating partner with FAS export market development programs. Bullish […]
Soft White Wheat Crop Looks Better This Year
Analysis of the wheat market since February has been underscored by volatility, and no less so for the U.S. soft white (SW) wheat market. The sudden exit of Ukraine from the export market and the uncertainty of Russia’s wheat exports are recent factors in market volatility. Dry weather is another important consideration for winter wheat […]
U.S. Hard Red Winter Wheat in Drought Adds Supply Concerns
While the Russia-Ukraine conflict remains the biggest driver of wheat futures prices, U.S. winter wheat in drought conditions across the Plains is becoming an increasingly bullish factor. This latest concern is likely to overshadow USDA’s recent estimate for a slight increase in winter wheat acres with potentially serious implications for supplies heading into summer. On […]
Wheat Facts from USDA’s Grain Stocks and Prospective Plantings Reports
The USDA’s National Agricultural Statistics Service (NASS) released its latest Grain Stocks report and Prospective Plantings report March 31. The report echoed what many market analysts expected, tighter U.S. wheat stocks and higher planted winter wheat area. One significant exception was a slight decline in spring wheat planted area intentions compared to USDA’s previous prediction […]
U.S. Wheat Highlights from USDA’s First Look at 2022/23
An increase in planted area, production and lower prices are among the U.S. wheat highlights USDA shared Feb. 24, at its 2022 Agricultural Outlook Forum. These U.S. wheat highlights and USDA’s outlook for all U.S. agricultural products represent the first predictions for marketing year 2022/23. The new year for U.S. wheat starts June 1, 2022, […]
Dry Conditions Continue Affecting Global Wheat Production
In a market-moving report in February, USDA cut its 2021/22 global wheat production estimate by more than 2 million metric tons (MMT) from its January estimate. USDA also increased its world wheat consumption estimate. What is behind this change so late in the marketing year? This year, high wheat prices remain a fixture as drought in […]
Northern Crops Institute Webinar: A Look at the World and U.S. Durum Market
The U.S. durum market remains supported by tight supplies, leading to a reduction in consumption that may, or may not, hold until the 2022 harvest. That is an observation by North Dakota Wheat Commission Policy and Marketing Director Jim Peterson in a Feb. 2, 2022, webinar sponsored by the Northern Crops Institute (NCI). Following a […]