Last Thursday, we got the USDA’s November WASDE report, and while the biggest surprise was the revision of Chinese production and inventories, there are some tidbits worth recognizing.
Brennan Turner is the Founder & CEO of FarmLead.com, North America’s Grain Marketplace. He holds a degree in economics from Yale University and spent time on Wall Street in commodity trade and analysis before starting FarmLead. In 2017, Brennan was named to Fast Company’s List of Most Creative People in Business and, in 2018, a Henry Crown Fellow as part of the Aspen Institute. He is originally from Foam Lake, Saskatchewan where his family started farming the land nearly 100 years ago (and still do to this day on more than 50,000 acres!). Brennan’s comments on grain markets are regularly featured in everything from small-town newspapers to large media outlets like CNBC and Bloomberg.
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Grain markets moved into November with a lot of participants happy to see October is over. First, we had to wait until the middle of the month to get back into the fields to finish Harvest 2018, and then as that happened, canola and spring wheat prices on their respective futures boards started to fall. Specifically for the latter, the…
As combines are being put away for the season in Western Canada, they’re just starting to roll in the Land Down Undaa as the Australia wheat harvest starts up. That being said, first deliveries were being seen last week into Melbourne port locations for Australian Prime Hard wheat (APH3), which requires a minimum of 14% protein and…
Last week we got Agriculture Canada’s monthly version of the WASDE, showcasing grain supply and demand in the Great White North. This offset the fact that, going into the third weekend of October, there was still about 6.3 million metric tonnes (MMT) of spring wheat left to combine, across nearly 4.67 million acres.
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…
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.