February 22, 2012

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Final day of National Hard Spring Wheat Show

February 8, 2012 By Leave a Comment

Today marks the final day of the 59th Annual Hard Spring Wheat Show at the Airport International Inn in Williston, ND.

The show focuses on the business of agriculture, and several speakers have covered topics ranging from soil compaction to export challenges and opportunities.

We spoke with Mike Krueger, Founder and President of The Money Farm, during Tuesday’s opening session.  He gave a presentation about the new market volatility that farmers and ranchers face daily.

Mike Krueger

The meeting adjouns Wednesday at 4 pm.  To see winning photos from the National Hard Spring Wheat Show Photo Contest, like us on Facebook and look for the Spring Wheat Show album. 

 

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Filed Under: Markets, News, Regional News

Ukraine attracts more attention from export competitors

February 6, 2012 By Leave a Comment

Recent activity in Ukraine’s national grain production has attracted attention and potential concern over global market impact.

To offset a record bumper crop, Ukraine removed its export duties on wheat and corn last year. As the chart below illustrates, coarse grain production in 2010/2011 exceeded 20 million metric tons. While domestic demand only currently accounts for half of production, if Ukraine’s government continues to remove trade restrictions and open its markets, the surplus in grain exports could potentially flood neighboring markets and undercut suppliers.

Despite Ukraine’s actions to move these cash crops, an export quota system will remain in place until the end of June. Thus, market uncertainty will continue as we wait for Ukraine’s 2nd quarter numbers to be reported.

 

Source: U.S. Grains Council 

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Filed Under: International News/Trade, Markets, News

MGEX reports impressive month over month volume increase

February 2, 2012 By Leave a Comment

MGEX reported total futures and options trading for its flagship Hard Red Spring Wheat (HRSW) contract in January increased more than 36 percent when compared to December 2011. Total Exchange volume was 93,252 contracts traded. Futures trading volume for HRSW improved 34 percent over the previous month with 91,154 futures contracts traded. Options trading increased 1,100 percent over December 2011 and 17 percent when compared to January of last year.

The Exchange in January also announced changes to its HRSW contract including Commodity Futures Trading Commission (CFTC) approval for the removal of the U.S origin condition effective with September 2012 contract month. The removal allows spring wheat from around the world to be delivered in satisfaction of open MGEX HRSW futures positions. MGEX also announced it added a deoxynivalenon (vomitoxin) specification to the flagship contract effective with the May 2013 contract month as well as a change in storage rates for spring wheat delivery on the HRSW futures contract. Information on the changes above and complete volume and open interest numbers are available at www.mgex.com.

Source: MGEX

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Filed Under: Crops, Markets, News
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