08/07/08 Wheat industry's Latin America Buyers Conference

Farm and Ranch August 7, 2008 A record 170 wheat buyers, millers and wheat food manufacturers were in Austin, Texas recently for U.S. Wheat Associates Latin America and Caribbean Buyers Conference. Several state wheat commissions also helped sponsor the event including Washington's Wheat Commission. Its CEO Tom Mick attended. Mick: "Excellent program. Lots of interest of course from buyers on supply and demand situation and listening to speakers talk about what is in store for future wheat prices." The topics of biofuels and transgenic wheat were also on the agenda. Washington along with U.S. Wheat Associates has worked hard in recent years developing markets for soft white wheat in Latin America. Mick says increased supplies of U.S. soft red winter wheat this year will mean more competition for soft white in the region. Mick: "And I am pleased to report that countries like Guatemala and El Salvador are still buying our soft white even though soft red winter is abut $50 a ton cheaper. They like our quality and they like to lift wheat out of the PNW so they can combine the cargoes with hard red spring and it is working to our advantage." Mick says the Washington Wheat Commission plans on another trip to Latin America this fall to encourage customers to keep buying Pacific Northwest soft white wheat. I'm Bob Hoff and that's the Northwest Farm and Ranch Report on the Northwest Ag Information Network.