Last Thursday, the USDA released the 2018 October WASDE report which gave us new insights into the global and American wheat outlook for 2018/19. It was a bit bearish as the USDA increased American spring production by 4 million bushels, putting 2018/19 production now at 587 million bushels (or 16 MMT), a jump of 52% over last year’s…
Brennan Turner is originally from Foam Lake, SK, where his family started farming the land in the 1920s. After completing his degree in economics from Yale University and then playing some pro hockey, Mr. Turner spent some time working in finance before starting FarmLead.com, a risk-free, transparent online and mobile grain marketplace (app available) that has moved almost 150,000 MT in the last 2.5 years. His weekly column is a summary of his free, daily market note, the FarmLead Breakfast Brief. Visit the FarmLead website (www.farmlead.com) for more information and to sign up for Brennan's newsletter.
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While the tariffs have been a key headline out of China, few voices are addressing the nation’s weather challenges and the impact on yield potential. While the tariffs will curb demand in China, production limitations exist due to drought, flooding, and pest problems across the country.
In town for meetings on the 1st and 2nd of October, I left Calgary this week amidst a snow storm – one that put a further damper on Harvest 2018 prospects.
Last week, StatsCan released its annual September satellite-based production estimates. The agency said that spring wheat yields in Canada will come in at 49.5 bushels per acre (bpa). That is up from the 46.6 reported a few weeks ago. That figure puts production expectations at 22.91 MMT. In the August report, StatsCan said Canadian…
The USDA came out on Wednesday, September 12th with one of the most bearish WASDE reports in recent memory, destroying any pre-report expectations, especially for corn and soybeans.
Grain markets are all in the red as the complex continues to have a losing first week of September.
Wheat prices continue to be the worst-performer of the group as the bullish dynamic in Europe, the Black Sea, and Australia has seemingly been priced in, relative to a decent-sized crop coming off in Canada.
Europe continues to garner attention thanks to extreme heat and the ongoing reduction in wheat production estimates. The key factor, however, is quality.