Total exports are still down because sales to Egypt, which used to be the biggest buyer, have dropped off this year
Turkey has overtaken Egypt as the top buyer of Russian wheat this year. Sales to Turkey have eclipsed exports to Egypt for each of the last five months, which is highly unusual, said Andrey Sizov, managing director of SovEcon, a Russian agricultural consultancy. Shipments to Turkey in July, August, September and October were between 750,000 […] Read moreMarkets — page 337
Turkey becomes Russia’s top wheat customer
Crusher planned for Montana will handle organic canola
The largest oilseed crushing plant in Montana is scheduled to open early next year. The plant, known as Montana Specialty Mills, is expected to crush organic canola, non-genetically modified canola and flax, grown by farmers in Western Canada and the northern U.S. Plains. “It will be operational the first of the year,” said Dave Loboy, […] Read more
China refuses to budge on subsidies
The country lost a WTO challenge over its minimum support price program but hasn’t made the necessary adjustments
The country lost a WTO challenge over its minimum support price program but hasn’t made the necessary adjustments
China continues to violate its World Trade Organization commitments regarding agricultural support, says U.S. Wheat Associates. The country has committed to making changes to its tariff rate quota system following a successful U.S. World Trade Organization challenge on that trade barrier, but it appears reluctant to make comparable adjustments to its minimum support price (MSP) […] Read more
Brazil’s corn challenge in U.S. market may lower prices
Recent surge in the South American country’s exports may be short-lived, but analysts argue the writing is on the wall
The corn market is getting a glimpse of what the future holds as surging exports out of Brazil threaten the United States’ position of dominance, say analysts. Brazil shipped 34.7 million tonnes of the crop through the first 10 months of 2019, which is 60 percent more than the previous record for that period, according […] Read moreWP livestock report – December 5, 2019
HOGS The U.S. national live price average for barrows and gilts was $33.18 per hundredweight Nov. 29, down from $35.46 on Nov. 22. U.S. hogs averaged $42.80 on a carcass basis Nov. 29, up from $41.91 Nov. 22. The U.S. pork cutout was $81.85 per cwt. Nov. 29, down from $83.07 Nov. 22. The estimated […] Read more
Resist the urge to trash talk other parts of agriculture
I once rescued a car from a mechanic who was pushing much unnecessary “repair” work. The ethical mechanic I took it to next, recommended by locals, found what needed fixing, fixed it, and gave me my car back for a fraction of what the other guy had proposed. “We don’t talk-down our competition here,” he […] Read more
Producers warned to get their costs in line
A financial adviser says farmers must learn to adjust to the leaner times ahead, particularly how to handle cash
Only when the tide goes out do you discover who has been swimming naked, said Shannon Lueke, quoting Warren Buffett. That scenario applies to farming today, which after a decade of good years has seen markets tumble and total costs per acre increase. “There is no hiding place when growing conditions, market prices and interest […] Read moreDeere reports lower earnings
CHICAGO, Ill. (Reuters) — Deere & Co. has reported lower fourth-quarter earnings, hurt by trade tensions as well as poor weather in the U.S. farm belt that have slowed equipment purchases by farmers. For the quarter ended Nov. 3, it reported an adjusted profit of $2.14 per share, down from $2.30 per share last year. […] Read more
Canfax report – December 5, 2019
Steer price rises Alberta direct cattle sales saw active trade last week. The weighted average Alberta fed steer price was $3.29 per hundredweight higher than the previous week with live sales reported from $150.25-$152 per cwt. to average $150.30. Heifer prices firmed modestly with trade from $148.25-$151.25 per cwt., averaging $149.52. Dressed trade developed at […] Read more
India’s wettest monsoon in 25 years could yield record 2020 wheat output
(Reuters) – India’s wheat production could jump to a second consecutive annual record in 2020 as the wettest monsoon in 25 years is set to help farmers in expanding the area under the winter-sown crop while also boosting yields, industry officials told Reuters. But that higher production would add to India’s already swelling inventories, potentially […] Read more
