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Wheat Market: U.S. Production to Fall to Lowest Level Since 2002-03
USDA forecast U.S. 2017/18 wheat production at 47.9 million metric tons (MMT), down 24 percent year over year and 18 percent below the 5-year average. The reason: an anticipated 12
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Wheat Market: Diminishing Low Protein Premiums Add Value to Soft White Export...
Four consecutive years of drought, which shrunk soft white (SW) production and increased average protein levels, had the market rationing demand through low protein premiums. Now, after two years of
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Grain Markets: World Wheat Consumption Increases, Spring Wheat in Short Supply
USDA increased its estimates for world wheat production, consumption and trade in its August World Agricultural Supply and Demand Estimates (WASDE) report released today. USDA forecast global wheat...
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Wheat Market: Opportunities Abound for Customers to Lock-in Competitive Prices
Sharply lower U.S. wheat production pushed futures prices to 2-and 3-year highs earlier this summer. However, bearish factors have recently pushed prices down. And when wheat futures are under pressure,
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U.S. Wheat Sales on Pace to Match 5-Year Average
Three months into the 2017/18 marketing year (June to May), total U.S. export sales-to-date of 12.1 million metric tons (MMT) are 2 percent ahead of last year’s pace and in
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Wheat Market: USDA Projects Shifting Supplies, Location Will Impact Quality,...
USDA expects a lower world wheat production in 2017/18 of 751 million metric tons (MMT) (27.6 billion bushels), down slightly from the record high 754 MMT (27.7 billion bushels) in
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Wheat Market: Futures Tumble, While Protein Premiums Soar
As the Dec. 12 World Agricultural Supply and Demand Estimate (WASDE) confirms, global wheat supplies are at a record high this year. USDA increased its estimate for 2017/18 global wheat
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Wheat Market: Sustained Demand in a New Price Environment
Six months into marketing year 2017/18 (June to May), total U.S. export sales of 19.5 million metric tons (MMT) are 8 percent behind last year’s pace according to USDA Export
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Wheat Market: Global Supplies of High Protein Wheat Keep Tightening
In the Nov. 2, 2017, issue of “Wheat Letter,” we analyzed the tight supply of high protein U.S. wheat (minimum of 13.0 percent protein at 12 percent moisture basis (mb))
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Wheat: Crop Conditions Fall as Drought Worsens
Farmers will tell you that winter wheat is a hardy plant; but for the current U.S. winter wheat crop, one of its most important inputs, water, is increasingly in short
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Wheat Market: Early Estimates Expect Black Sea Production to Fall
USDA will issue its first 2018/19 U.S. wheat production estimate on Feb. 23 at its Annual Agricultural Outlook Forum, rounding out the estimates already available for Northern Hemisphere wheat...
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Wheat Market: U.S. Acreage Expected to Increase Despite Dry Conditions
Total U.S. planted wheat area will rise 500,000 acres (202,000 hectares) in 2018/19 due to an expected increase in spring wheat area (including durum) according to Joanna Hitchner of the […]
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Wheat Market: Global Winter Wheat Conditions a Mixed Bag
The end of March heralds not only the beginning of spring — a crucial time for both winter and spring wheat production — but also the first round of winter […]
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Wheat Market: As Always, Weather Is the Wildcard for Planting, Production
According to the March 29 USDA Prospective Plantings report, U.S. total spring-planted area will jump to an estimated 14.1 million acres (5.71 million hectares), 12 percent above 2017/18, if realized. […]
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Wheat Market: Competing for Acres – 2018/19 Global Production to Fall
At first glance, the USDA April 10 World Agricultural Supply and Demand Estimates (WASDE) held very few surprises for wheat. Most reviewers would consider this a bearish report with another […]
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Wheat Tour Scouts Expect Sharply Lower 2018/19 Production
This week I joined the annual Wheat Quality Council (WQC) Hard Red Wheat (HRW) Tour for an early survey of the new crop. Each year, participants gather in Manhattan, Kan., […]
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Wheat Market: Drought, U.S. Rail Rates Prop Up Export Prices
Since the beginning of the calendar year, export cash prices for hard red winter (HRW) wheat prices have rallied an average 73 cents at the Gulf across all protein levels. […]
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Wheat Market: U.S. Farmers Have What the World Needs
In its June World Agriculture Supply and Demand Estimates (WASDE), the U.S. Department of Agriculture (USDA) noted that global wheat consumption is expected to exceed global wheat production for the […]
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Wheat Market: Strong Demand Pushes Global Prices Higher
With the world consuming more wheat than it produces for the first year since 2012/13, prices are also on the rise. According to Global Trade Atlas data, the average global wheat price […]
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Wheat Market: Lower Futures – An Anomaly and Excellent Opportunity
There is an old saying: “When there’s blood on the streets, buy property.” Given recent price movements, that could easily be changed to: “When trade policies are in the news, […]
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