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Wheat Growers Celebrate USDA’s 150th Anniversary

May 15
The U.S. wheat industry congratulates the U.S. Department of Agriculture (USDA) as it celebrates its 150th anniversary on Tuesday. “From its support for research and export market development to inspecting our food and helping maintain a safety net for farmers, USDA has had a positive and lasting impact on the wheat industry, American agriculture and the lives of every American,” said Randy Suess, a wheat farmer from Colfax, WA, and USW chairman. In this anniversary year, the wheat industry encourages farmers and consumers to learn more about USDA’s contributions to the strength of our nation, and to see how the agency can continue to partner with Americans working to provide a better life for their families.

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Watch Video from the Hard Winter Wheat Tour and OK Crop News

May 7
Oklahoma State University has produced an interesting video segment for its "Sun Up" program about last week's tour of HRW wheat in Kansas and parts of Nebraska and Oklahoma. Click below to see the report. In addition, the program also produced a segment comparing this year's wheat crop situation to last year in Oklahoma. Watch that program at http://bit.ly/IC2eud.

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NEWS & EVENTS
U.S. Wheat Associates

U.S. Wheat Industry Hails U.S.-Colombia FTA Implementation

May 15
In a huge victory for U.S. wheat farmers, the United States and Colombia officially implemented on Tuesday a free trade agreement (FTA) first signed in 2006. The pact immediately eliminates all tariffs on U.S. wheat imports to Colombia and ends a significant tariff disadvantage U.S. farmers have faced compared to Canadian and Argentine wheat imports there. Randy Suess, a wheat farmer from Colfax, WA, and chairman of U.S. Wheat Associates (USW) said, “The tariff situation has basically forced our largest customer, historically, in South America to buy more wheat from Canada and Argentina. Now our customers in Colombia will not have to pay the tariff and we can compete equally on the basis of quality, supply and service.”

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Proposed Changes to U.S. Grain Standards

May 7
USDA’s Federal Grain Inspection Service (FGIS) proposed changes to the U.S. Grain Standards, specifically to the definitions of “Contrasting Classes” and “Shrunken and Broken Kernels in a Federal Register announcement April 11, 2012. USW and other industry stakeholders submitted comments on the standards during FGIS’s periodic review beginning in November 2009. The proposed changes affect hard white (HW) standards related to contrasting classes and to standards for shrunken and broken kernels.

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U.S. Wheat Associates

Read Wheat Letter

May 10
In the latest edition of Wheat Letter: read about the HRW Crop Quality Tour projections, wheat crop progress, WASDE’s first look at 2012/13, a reflection on the importance of trade, IFIC’s latest survey related to consumers’ perceptions of biotechnology, the Japanese Milling Executives tour and other wheat industry happenings.

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Price Report: Supplies Pressure HRW, SRW and Lift HRS Prices

May 11
Futures markets closed mixed this week. KCBT and CBOT found support from technical selling early in the week and from the USDA WASDE report on Thursday. A strengthening dollar caused futures to fall on Wednesday and limited gains the rest of the week. Prospects of a large spring wheat crop and early emergence have pressured the MGEX contract for several weeks. Weakness in CBOT soybeans and outside financial markets spilled over into wheat markets on Friday. MGEX went against the greater losing trend on Friday and was the only wheat contract to post a gain on the week, closing 1 cent higher at $7.41/bu. KCBT lost 13 cents on the week to close at $6.01/bu and CBOT finished 11 cents lower at $5.93/bu. CBOT corn closed down 54 cents at $6.08/bu and CBOT soybeans lost 71 cents to close at $14.04/bu.

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DAILY FUTURES PRICES
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