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Export Market Development: A Vital Partnership with U.S. Wheat

February 6
The long-term impact on global demand for U.S. wheat and farm income would be devastating if Congress fails to fund the Market Access Program (MAP) and the Foreign Market Development (FMD) program administered by USDA’s Foreign Agricultural Service. That is the conclusion of a new USW video presentation posted above (click to view or click below to see the video on YouTube). “Without the Foreign Market Development program and the Market Access Program, USW would not be able to continue our work overseas,” USW President Alan Tracy says.

Watch the Video

Wheat Organizations Want an Open Border for U.S. and Canadian Producers

January 31
Signaling a desire for more market efficiency, the boards of directors of U.S. Wheat Associates (USW) and the National Association of Wheat Growers (NAWG) each passed a resolution on Jan. 29 calling for an open border with Canada that provides reciprocal bilateral wheat trade. “We believe that in an open market, some Canadian wheat will move to U.S. country elevators near the border,” said Gordon Stoner, a Montana wheat farmer who serves as the head of the USW/NAWG Joint International Trade Policy Committee.

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NEWS & EVENTS

ISAAA Report on Biotech/GM Crops Shows 94-Fold Increase in Planted Area Since 1996

February 7
From Agri-Pulse: The ISAAA report, Global Status of Commercialized Biotech/GM Crops: 2011, says a record 16.7 million farmers in 29 countries are growing biotech crops on 395 million acres. According to the report, “such adoption represents a 94-fold increase in hectares planted since 1996, making biotech crops the fastest adopted crop technology in recent history.” According to Dr. Cathleen Enright, Executive VP, Food and Agriculture for the Biotechnology Industry Organization (BIO), “In the United States more than 170 million acres of biotech crops were planted in 2011, and the United States remains the top country in terms of biotech acreage.”

Price Report: Wheat Higher on Stronger Export Demand and Russian Speculation

February 3
Wheat futures closed higher this week thanks to speculation regarding potential export restrictions in Russia, which prompted early week gains. An announcement by the Russian government to forego export restrictions combined with improved weather forecasts in wheat producing areas pressured prices on Thursday and Friday. The price of soft white wheat out of the Pacific Northwest has increased substantially the last two weeks due to much stronger export demand.

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WHAT WE DO

Global Ending Stocks Would Set New Record if Realized in Feb. WASDE

February 9
U.S. wheat ending stocks projected 25 million bushels lower while exports are raised for SRW, SW and HRW and offset by lower exports for HRS for a total export increase of 25 million bushels. Global wheat supplies projected higher based on increased production in India, Kazakhstan and Morocco. Global trade raised slightly with world imports increased 0.7 MMT. Exports reductions for Ukraine, Canada and India are offset by increases for Russia, the US, Argentina and Brazil. Global wheat consumption is reduced 1 MMT. Global ending stocks for 2011/12 are raised 3.1 MMT to a record 213.1 million. As projected, 2011/12 global wheat stocks would be 2.4 MMT higher than the previous record in 1999/2000.

Read the WASDE Report

Market Factors, Trade Initiatives, Cakes and Doughnuts and More in Wheat Letter

February 2
In the latest edition of Wheat Letter: read why market factors are adding excellent value to high-quality U.S. wheat, why USW and NAWG are calling for an open border with Canada, how federal support for U.S. farm programs is down, about USW’s new Secretary-Treasurer Roy Motter, about President Obama’s trade initiatives in the State of the Union address, how cake and doughnut short courses are building a partnership in the Philippines and other wheat industry happenings.

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DAILY FUTURES PRICES

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