By John DePutter & Dave Milne – November 7, 2019
The news:
“Dogged by lower prices and tepid demand, U.S. wheat farmers are poised to plant the fewest acres of winter varieties in 110 years.”
Bloomberg, October 28, 2019
“Dogged by lower prices and tepid demand, U.S. wheat farmers are poised to plant the fewest acres of winter varieties in 110 years.”
Bloomberg, October 28, 2019
Statistics Canada released 2018 farm income data this week, showing just slightly higher crop receipts compared to a year earlier, sharply lower realized net income and rising debt.
“July Kansas City wheat is up more than a dollar a bushel in 2018 – a substantial move that was unimaginable back in December when traders were focused on 2017’s record global wheat harvest.”
– Progressive Farmer, Mar. 7, 2018
There is a view building that weather conditions are going to be an issue for the US wheat crop this year.
– Queensland Country Life, Jan. 9, 2018
By John DePutter & Dave Milne – Nov. 28, 2017
The news:
“The Ministry of Agriculture of Russia does not expect any reduction in the planted areas under grain crops for the 2018 harvest, declared the Minister of Agriculture, Alexander Tkachev on November 23.”
-APK Inform, Nov. 27, 2018
What it means:
If accurate – and in the absence of any major weather problem – more price pressure would seem to lie ahead.