Perspectives From the Field on 2023 Drought
The impact of drought in the Central and Southern U.S. Plains is the dominant topic of conversation about the 2023/24 hard red winter (HRW) crop. Industry participants agree there will be a lot of HRW fields abandoned before harvest from Texas to South Dakota. Rain expected this week is a hopeful sign but likely comes […]
Wheat Industry News
News and Information from Around the Wheat Industry Speaking of Wheat “Until some of these geopolitical conflicts are resolved — it’s difficult to envision a return to the level of free trade we enjoyed through the late 20th and early 21st centuries. Difficult as it may be, governments must resist the urge to limit […]
USDA Reports Confirm the Tight U.S. Wheat Balance Sheet
On March 31, the United States Department of Agriculture (USDA) released its yearly Prospective Plantings Report, and Quarterly Grains Stocks reports. The reports provide valuable insights for U.S. wheat importing customers as we enter the final two months of the 2022/23 marketing year and look ahead to the 2023 harvest. In this article, we will […]
Wheat Industry News
News and Information from Around the Wheat Industry Speaking of Wheat “In my view, [news that Cargill and Viterra will stop loading Russian grain] puts more questions around Russia’s ability to export. Russian state exporters claim that they’ll be able to keep grain moving out at the same pace, but major speculative funds holding […]
Changing Weather Patterns Could Favor U.S. Wheat Production
Over the last few weeks, we have analyzed several factors that are shifting or have the potential to shift U.S. wheat value toward wheat importers. A combination of lower futures prices, a break in dry bulk freight prices, an increase in planted area, and the potential for a weaker dollar all point to a wheat […]
U.S. Farmers Respond to Higher Wheat Prices by Planting More
Since Russia’s unprovoked invasion of Ukraine sent them soaring one year ago, global and U.S. wheat prices have decreased significantly. Continued Black Sea Grain Corridor exports and improved production outlook in major exporters such as Russia and Australia have helped relieve the market of some supply pressure. Bulk ocean freight rates have also broken in […]
Rising Input Costs Are Challenging Many Wheat Farmers Across the U.S.
Wheat growers do not need a USDA report in one hand and a slide rule in the other to conclude that escalating production costs are outpacing increases in crop revenue. Nor do they need an economics degree to locate the heart of the matter. “The numbers we are putting in are racing past the numbers […]
What is the Latest Supply and Demand Situation for U.S. Wheat Classes?
The 2022 U.S. wheat harvest is complete and this week, USDA estimated farmers have seeded 79% of the 2023 winter wheat crop. As winter approaches and the planted crop goes dormant, a supply and demand update across all U.S. wheat classes is warranted. The annual U.S. Wheat Crop Quality Report can be found here. Last […]
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 […]
Seeds of the New U.S. Winter Wheat Crop Already Sown
It is planting season for U.S. winter wheat growers. Conditions and timing vary by region, but a lot of the 2023 hard red winter (HRW), soft red winter (SRW) and even fall-seeded soft white (SW) area has already been seeded. Long before farmers select and clean seed from their last crop or purchase certified seed […]