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.
Farm equipment makers insist the sales slump they face this year because of lower crop prices and farm incomes will be short-lived. Yet, there are signs the downturn might last longer than tractor and harvester makers, including Deere & Co., are letting on and the pain could persist long after corn, soybean and wheat prices rebound.
Projected U.S. wheat supplies for 2014 to ’15 are up 10 million bushels with higher expected imports of hard red spring wheat from Canada. This reflects higher stocks in Canada as well as the strong shipment pace to date.
U.S. Department of Agriculture
September 15, 2014
WINNIPEG, Manitoba — The first oats from the southern prairies are coming off OK. Weights are adequate to good — most is coming in between 240 and 260 grams per half liter (millers want a minimum of 240 grams) and yields are running between 100 and 130 bushels per acre. Quality seems fine.
Wheat started last week on the defense, but recovered to end the week with gains. When it was all said and done, wheat closed mixed. For the week ending Aug. 28, September Minneapolis lost 14.75 cents, September Chicago gained 4.5 cents and September Kansas City gained 1.5 cents.
WINNIPEG, Manitoba — Spring crops, specifically oats and barley, are starting to be taken off in southern areas. Quality and yields appear about normal. Oats have decent weights. Rain has been scarce since June and it’s been hot. A crop that looked to be above-average might now be about average.
Wheat traded back and forth last week. In the end, wheat ended mixed with hard wheat (Kansas City and Minneapolis) ending with strength, while the soft wheat (Chicago) slipped. For the week ending Aug. 21, September Minneapolis gained 3.75 cents, September Chicago dropped 5 cents and September Kansas City gained 2.25 cents.
Wheat struggled last week as traders positioned themselves ahead of the U.S. Department of Agriculture’s August crop production report. Improving fundamentals added pressure. For the week ending Aug. 14, September Minneapolis lost 13 cents, September Chicago dropped 12 cents and September Kansas City gave back 21 cents.
Pea harvest is under way in the south, but not yet general. Few samples have made it to processors, but there doesn’t appear to be any reason to think quality will be an issue. Trade is just getting under way.
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