Supply, Quality and Price Support USDA Wheat Export Estimates
By USW Market Analyst Claire Hutchins Between January and February 2020, USDA raised its total U.S. wheat export estimate from 26.5 million metric tons (MMT) to 27.2 MMT, 7% greater than last year, if realized. U.S. Wheat Associates (USW) believes the United States is on track to reach USDA’s export estimates due to favorable marketing […]
Will Shifting Market Factors Hibernate the Bear Market in Wheat?
By USW President Vince Peterson Recently, I have heard several of the farmers that U.S. Wheat Associates (USW) represents say they are hoping for a much better year in 2020. No wonder, given the low farmgate prices, trade uncertainty and difficult harvest conditions last year. A better year would be good for our farmers and […]
USDA Forecast: World Wheat Production and U.S. Export Volume to Increase
By Claire Hutchins, USW Market Analyst In its December World Agricultural Supply and Demand Estimates (WASDE) report, USDA now expects world wheat production for marketing year 2019/20 to increase by 5 percent to 765 million metric tons (MMT) from last year’s 731 MMT. Lower expected production in Argentina and Australia likely encouraged USDA to also […]
Reduced Wheat Production Estimates Boost Russian Export Prices
By Claire Hutchins, USW Market Analyst Extremely high temperatures and below-average precipitation levels prompted USDA to reduce its Russian wheat production forecast from 78.0 million metric tons (MMT) in its June World Agricultural Supply and Demand Estimates (WASDE) report to 74.2 MMT in its July WASDE report. That is a 5% reduction month over month. […]
U.S. Wheat Prices Competitive with Corn for Domestic Feed Use
By Claire Hutchins, USW Market Analyst According to USDA’s June WASDE (World Agricultural Supply and Demand Estimates) report, U.S. feed wheat consumption will increase 64% in marketing year (MY) 2019/20 to 3.81 million metric tons (MMT), compared to 1.36 MMT in MY 2018/19. U.S. Wheat Associates (USW) believes the current price relationship between domestic wheat […]
Blockchain in Agricultural Commodity Trading: Dream or Reality?
By Tanner Ehmke, Manager, Knowledge Exchange, CoBank; Reprinted with permission; View the original report here. Key Points: Blockchain innovations in agriculture are numerous but have been slow to gain industry-wide acceptance, particularly in global agriculture commodity trading. Previous attempts to digitize trade finance with tools like bank payment obligation (BPO) have been slow to take […]
First Look at 2019/20 by USDA Sees Another Record World Wheat Crop
By Claire Hutchins, USW Market Analyst On May 10, USDA issued its first set of forecasts for 2019/20 in its World Agricultural Supply and Demand Estimates report. USDA expects global wheat production at a new record of 777 million metric tons (MMT) and exceeding expected use again as major global suppliers rebound from last year’s […]
Good Quality, Competitive Prices Spark U.S. Winter Wheat Demand
By Claire Hutchins, USW Market Analyst As marketing year (MY) 2018/19 draws to a close, customers of U.S. winter wheat are taking advantage of excellent buying opportunities on competitive pricing and high-quality, consistent supplies. Since the first week in January, the 2018/19 export sales pace for hard red winter (HRW) and soft red winter (SRW) […]
Here Are 5 Things to Know About SRW Supply and Demand
By Steve Mercer, USW Vice President of Communications Grown in the eastern United States, soft red winter (SRW) wheat is a profitable choice for producing confectionary products like cookies (biscuits), crackers and cakes, and to blend its flour for baguettes and other bread products. U.S. Wheat Associates (USW) wants to share some key points about […]
Main Takeaways from the USDA’s March 2019 World Wheat Supply and Demand Report
By Claire Hutchins, USW Market Analyst USDA updated its monthly World Agricultural Supply and Demand Estimates (WASDE) on Mar. 8, showing decreased global production and domestic consumption but steady global trade. USDA pegged 2018/19 global production at 733 million metric tons (MMT), 3 percent below last year’s volume of 763 MMT. The United States holds […]