The initial (and minimum) revenue insurance price for the 2019 U.S. winter wheat crop has now been determined. It is based on the daily average of the July 2019 Chicago and KC wheat futures between 15 August and 15 September. The price for hard red winter wheat is $5.74 versus last year’s initial price of $4.87, and the soft red winter wheat price will be $5.72 against $5.02 a year ago. This is a significant increase in the price guarantee from last year, but it is still disappointing because wheat futures declined sharply during the 30-day price calculation period (see the KC July 2019 chart below).
The major key to the wheat market’s price action continues to be Russia’s wheat export pace and whether the governm...
What You Need to Know Today: USDA reports are delayed until Tuesday due to the federal holiday on Monday. Over the weekend, President Trump announced a ceasefire between Russia and Ukraine. Russia warmly welcomed and confirmed this ceasefire by conducting more strikes against Ukraine. Specific...
On Saturday, 10 October, at a campaign rally in Clarksville, Tennessee, President Trump said that the U.S. and Mexico would come to terms on a new trade deal, and he said Canada does not need to be part of the deal. Trump called the coming agreement with Mexico “great” but gave no d...
Key Takeaways: The United States has steadily lost global wheat export market share since the 1970s, falling from the world's leading exporter to a projected fifth place in 2026/27. The rapid expansion of Black Sea wheat exports, driven by improved productivity and export infrastructure, has r...
