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  December 1, 2009 A Penton Media Property Vol. 1, No. 11  
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Planting Slightly Delayed
The 18 largest winter wheat producing states indicate that 93% of the year's planting is completed, compared with an historic average of 97%, according to UPI Business News. USDA says 84% of the crop has emerged, while 92% of the crop is in fair to excellent condition.

With the late fall’s seasonal wet weather, growers are reminded that weeds can reduce the growth of emerging wheat and slow its development into the winter in southern and southwest climates. The use of various weed-control methods, including herbicides applications, should be considered to combat weed invasions.

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Wheat Market In Waves
By Larry Stalcup, eWheat editor
 When the Kansas City Board of Trade (KCBT) December wheat futures contract closed last week at $5.42/bu., the contact’s record for rollercoaster behavior was intact. It was down from pushing $5.80 in mid-November. Chicago Board of Trade (CBOT) December wheat finished the Thanksgiving week at $5.48 after it hit about $5.80 mid-month. It’s a trend that reminds producers that marketing needs to be high on their lists, whether it means watching the market themselves or leaving it in the hands of a consultant.

Kim Anderson, Oklahoma State University grain marketing economist, points out that between Oct. 2 and Nov. 17, the KCBT December contract price increased from $4.60 to $5.74, up nearly $1.15. “Some market analysts contend that the $1.15 price increase was mostly due to ‘outside investors’ (the new term for the index and hedge fund buyers),” he says. “What producers must figure out is, ‘do outside investors have research that indicates that wheat is 'undervalued' or are the outside investors blindly buying wheat futures contracts?"

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House Members Urge Vote On 3-Year-Old Colombia Free Trade Agreement
Thirty-five House of Representatives members have written House Speaker Nancy Pelosi requesting an up or down vote on the Colombia free trade agreement “without further delay.” The agreement was signed by both countries on Nov. 22, 2006, but has languished due to a heavy legislative calendar and for other political reasons.

National Association of Wheat Growers (NAWG) and U.S. Wheat Associates are highly supportive of quick action on the Colombia agreement to help preserve U.S. market share in that country. In their letter, led by Rep. Doc Hastings (R-WA), the members focused on a key issue for congressional leadership – jobs.

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Wheat Is Focus Of Upcoming USDA-NASS Financial Survey
USDA’s National Agricultural Statistics Service (NASS) will begin its 2009 Agricultural Resource Management Survey (ARMS) in January, focusing on wheat for the first time since 2004. ARMS is an annual survey that asks a small but representative sample of farmers about their operations in order to understand the current financial state of U.S. agriculture.

In addition to seeking general farm information, this year’s ARMS will feature a special questionnaire for hog and wheat producers. This will be the first time since 2004 that ARMS has focused on wheat production including durum, spring, winter and organic wheat varieties.

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Food Safety Bill Approved By Senate HELP Committee
The U.S. Senate Health, Education, Labor and Pensions (HELP) Committee has approved its version of a food safety bill. The bill approved was a chairman’s mark of a bill authored by Sen. Dick Durbin (D-IL) that corrected a number of technical issues and made some positive changes, including clarifying compliance with international trade obligations.

At the committee mark-up, over 12 other amendments were offered and withdrawn with an agreement to work on them prior to a floor vote. Sen. Pat Roberts (R-KS) offered three amendments related to performance standards, confidentiality and jurisdiction.

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Producer Groups Write House Ag On Farm Credit Oversight
NAWG and 20 other producer groups are concerned about the status of the Farm Credit System under a consumer protection bill passed by the House Financial Services Committee. The groups expressed their concerns in a letter to the House Agriculture Committee.

The Consumer Financial Protection Act, H.R. 3126, passed by the committee this fall, establishes a new federal agency with broad authority to oversee the provision of credit and financial services to consumers. NAWG and other producer groups noted that the bill doesn’t name Farm Credit specifically, but would still impact the system’s business practices under definitions of such terms as “credit,” “consumer financial product,” “financial activity” and “financial product or service.”

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Groups Want Variable Storage Rates Put In Place Sooner
Producer and grain elevator representatives have expressed disappointment that variable storage rates for the Chicago Board of Trade (CBOT) wheat contract would not be implemented until the July 2010 contract.

In a letter sent to the leadership of CME Group, which owns the CBOT, and to members of the Commodity Futures Trading Commission, the groups state that the wheat contract situation is “extraordinary and merits urgent action” to work toward greater convergence.
Details For Winter NAWG/U.S. Wheat Meetings Now Online
NAWG launched a new online meeting registration site this week for the NAWG and U.S. Wheat Associates winter meetings, scheduled for late January in Washington, D.C.

The new site offers electronic registration, the ability to make hotel reservations and a copy of the most updated agenda. The winter meetings will begin Jan. 21 with the NAWG Foundation’s WOLF Program. U.S. Wheat committee meetings will begin the afternoon of Jan. 22, and NAWG committee meetings will begin the morning of Jan. 23. To visit the site click here

Source: U.S. Wheat
Ag Secretary Vilsack Announces $234 Million To Promote U.S. Food, Ag Exports
Agriculture Secretary Tom Vilsack has that 70 U.S. trade organizations received more than $234 million in fiscal year 2009 to help promote American food and agricultural products overseas. Vilsack made this announcement at the annual convention of the National Association of Farm Broadcasting.

Fiscal year 2009 Market Access Program (MAP) and Foreign Market Development (FMD) program allocations include: U.S. Grains Council, $8.35 million; and U.S. Wheat Associates, $6.3 million. For FMD Cooperator Program Allocations, U.S. Grains Council will receive $4.7 million and U.S. Wheat Associates, $6.65 million.

Source: U.S. Wheat
Feb. 9-11 World Ag Expo Registration
Registration is now open for the World Ag Expo, Feb. 9-11 at the International Agri-Center in Tulare, CA. All attendees have the opportunity to register online or at the registration center after entering the grounds for the 43rd annual expo themed “Powering Global Agriculture.”

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Take The Corn & Soybean Digest Poll
Join others across wheat, corn, soybean and sorghum producing areas and take part in the Corn & Soybean Digest poll. The latest poll question is: Who has been your favorite Secretary of Agriculture? Vote online at cornandsoybeandigest.com.
Subscribe To These Other E-Newsletters from Corn & Soybean Digest
There are several other e-newsletters from Corn & Soybean Digest. They include F.I.R.S.T. Harvest Reports (seasonal), Corn E-Digest, Soybean E-Digest and Crop News Weekly. Check them out at subscribe.cornandsoybeandigest.com/subscribe.cfm?tc=NLSUB.
Thanks For Viewing eWheat
Our next e-Wheat is scheduled for January. If you have any questions, comments or suggestions on the content of this newsletter, please e-mail your editor Larry Stalcup at beef2lar@suddenlink.net. Also, thanks to our exclusive sponsor, DuPont, for its support of this newsletter. (View past issues of eWheat at cornandsoybeandigest.com.)
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