The largest U.S. grain harvest in history has pushed prices to four-year lows, which usually means a sales bonanza for the world’s largest food exporter. Not this year.
Progress in U.S. talks with Japan towards a Trans-Pacific Partnership trade pact is encouraging, but difficult issues remain, the acting deputy U.S. trade representative says.
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.
Wheat traded mixed with Chicago leading the exchanges, while Minneapolis only posted small gains and Kansas City lost some ground.RELATED CONTENT
Mustard did not have a great growing year. Seedings were up by 100,000 acres from last year, but production is unlikely to be up that much.
The September index, at 87, decreased 3.3 percent from August and is 12 percent below September 2013.
U.S. and Japan trade talks hit a rough patch last week with both sides blaming the other for a stalemate over farm exports, a major hurdle in concluding an ambitious 12-nation trade pact.
WINNIPEG, Manitoba — Soybean harvest has started in southern Manitoba. Yields and quality seem OK. Most is coming in at 30 to 35 bushels per acre. Even better, they’re dry.
Wheat struggled last week, but overall managed to end the week with only minor changes.RELATED CONTENT
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.RELATED CONTENT
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.