India broke World Trade Organization rules by blocking imports of U.S. poultry and other farm products because of unsubstantiated bird flu fears, a WTO dispute panel ruled on Tuesday, potentially opening up an estimated $300 million a year export market for the U.S.
Projected U.S. wheat ending stocks for 2014 to ’15 are down 44 million bushels. Production for 2014 to ’15 is up 5 million bushels based on the latest estimate from the Sept. 30 Small Grains 2014 Summary.
U.S. Department of Agriculture
October 13, 2014
Cash prices for U.S. soybeans have dropped by as much as $5 per bushel since last week as processors have slashed historically high bids for the beans during the early phases of a record harvest, grain merchants and analysts said on Tuesday.
WINNIPEG, Manitoba — The 2014 prairie lentil crop is substandard and will present lots of marketing problems. Most lentils have gotten rain. Downgrading has already occurred. Wrinkling is a huge issue for traders. It could take two years to get this crop through the handling system.
Wheat struggled last week, trading with losses in every session. The losses started off small, but accelerated toward the end of the week. Wheat’s issue continues to be centered on record world production and poor quality.
China, the world’s top buyer of distiller’s dried grains (DDGs), has failed to settle a row with the U.S. on how to eliminate genetically altered content from a product worth $1.3 billion in trade so far this year, two industry sources said on Wednesday.
Major U.S. grain exporter Cargill Inc.’s lawsuit against Syngenta AG over losses stemming from China’s rejection of genetically modified corn demonstrates how U.S. markets are becoming increasingly subject to foreign rules, legal experts said on Tuesday.
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