Canadian wheat exporters are facing a new competitor in their second biggest market. “The rapid emergence of Brazil as an exporter in Indonesia and other foreign markets has been remarkable,” the U.S. Department of Agriculture said in its recent Grain: World Markets and Trade report. Indonesia bought 2.14 million tonnes of bulk wheat from Canada in 2022-23. It was Canada’s second largest customer that year behind China’s 2.97 million tonnes, according to the Canadian Grain Commission. Canada faces stiff competition in that market, primarily from Australia, which is the top supplier of wheat to Indonesia.

It's no secret that U.S. wheat prices are in a slump. I'm not here to bemoan the fact, but I do think it has become an interesting situation that deserves watching. For starters, March KC wheat closed at $6.24 1/4 Wednesday, Nov. 22, near its lowest March price in over two years. DTN's National Hard Red Winter (HRW) Wheat Index closed at $5.52 per bushel the same day, a price that, before this year, was last seen in early 2021.

The United Nations World Food Programme (WFP) warned on Tuesday that Ukraine's wheat production may be unable to meet domestic and export demand in the years to come if Black Sea export routes remain blocked and attacks on food infrastructure continue…"If attacks on food infrastructure and the blockage of sea export routes continue, it will dramatically impact the agricultural production outlook over years to come, and may, in a worst-case scenario, lead to wheat production being unable to meet domestic and export demand," Hollingworth said.

USDA took a key step Thursday in rolling out its new $1.3 billion international marketing initiative, the Regional Agricultural Promotion Program, and unveiled plans for trade missions next year to Vietnam, India, South Korea, Canada, Colombia and Morocco. USDA posted a final rule for operating RAPP, which will be funded out of the department's Commodity Credit Corporation account. Commodity groups still need to know how much money is available over what time frame and which foreign countries are eligible as targets for the promotion campaigns.

Join UI Extension for the 2023 Idaho Ag Market Outlook Seminar Series. The series aims to provide businesses and individuals in agriculture with an update on the current status of Idaho's major agricultural commodities and provides insights on what to expect in the coming year. The series will be held at four locations across the state. Topics will include Global/Macro Trends, Weather, Grains, Beef, Dairy, Input Costs and more.

A confidential mediation document released today by four members of Congress outlines steps the federal government will take to mitigate the breaching of the lower Snake River dams, but appears to make those steps contingent on Congress authorizing removal of the dams. The document was released by Reps. Dan Newhouse, Cathy McMorris Rodgers, Cliff Bentz and Russ Fulcher, who have sent a letter to President Biden seeking clarifications on the document's meaning.

Third generation farmer, Cliff Tacke, has jumped into the political side of farming by becoming Idaho Wheat Commissioner for District 2. “Wheat has been one of my mainstays in my farming career,” explained Tacke. “I haven’t been politically active, [but] now that I’m retired, I thought I could pull my weight a little bit.” Appointed to serve a five-year term position in early July by Governor Brad Little, Tacke represents wheat growers from Adams, Boise, Clearwater, Gem, Idaho, Lewis, Nez Perce, Payette, Valley, and Washington counties. Representing such a large group is a great responsibility that also comes with some bragging rights.