The National Grain and Feed Association (NGFA) and other U.S. agricultural groups expressed relief following the announcement of a tentative labor agreement, ending a strike that threatened to disrupt East Coast and Gulf Coast ports. The strike involved 45,000 dockworkers and stemmed from wage disputes and automation concerns. The union and the United States Maritime Alliance agreed to suspend the strike until January 15, 2025, while negotiations continue.

Producer confidence in the financial health of the farm sector dropped significantly in September, reaching its lowest level since March 2016. Long-term pessimism has deepened, with concerns over agricultural exports at their lowest since 2019. The farm financial performance index also declined, signaling worries about a margin squeeze, as input costs and low commodity prices remain top concerns for producers. While these concerns are prevalent in the crop sector, livestock producers, particularly in the beef industry, appear less affected.

The 2024 Pacific Northwest (PNW) soft white (SW) wheat crop benefited from favorable growing conditions, including ample moisture and moderate temperatures, resulting in a typical protein distribution and good functionality. This year's crop features weak to medium gluten strength, making it suitable for various products like crackers, noodles, and breads. The high-protein segment offers blending opportunities for a wide range of baked goods. Idaho, a significant contributor to this production, continues to showcase the versatility of its wheat, particularly in specialized products like sponge cakes and Asian noodles. Idaho wheat remains a crucial part of the broader PNW wheat market, enhancing the region’s offerings to both domestic and international markets.

Jamie Kress, a farmer from Idaho and a member of the National Association of Wheat Growers (NAWG), emphasizes the importance of passing a robust farm bill that strengthens the farm safety net, supports trade programs, and ensures American-grown commodities are central to international food aid. She highlights that farming is not just a job, but a lifestyle, and her work in agriculture policy is aimed at improving the lives of farm families. Kress urges wheat growers to continue advocating for the farm bill and emphasizes the importance of their voices in the legislative process.

U.S. wheat production for the 2024/25 marketing year is projected at 1.971 billion bushels, a 9% increase from the previous year and the highest since 2016/17. This growth counters a long-term decline in wheat production due to farmers switching to crops like corn and soybeans. However, wheat acreage has risen over the past two seasons, driven by high wheat prices in late 2022. Despite these acreage gains, a drought in hard red winter wheat regions limited harvests. For 2024/25, better weather conditions are expected to improve both harvested area and yields across most wheat classes, except for soft red winter wheat, which is down 24% but still above the 5-year average.

The USDA reports a 23% increase in Pacific Northwest winter wheat production over last year. In Idaho, winter wheat production rose by 11% to 62.3 million bushels, with spring wheat production up 20% to 38.7 million bushels. Yield for both winter and spring wheat remained strong at 89 bushels per acre. Idaho wheat farmers increased planted acreage for both winter and spring wheat, indicating its importance in crop rotations. Despite a rebound in production after droughts in 2021, wheat prices remain low due to high input costs and interest rates.

Bioceres Crop Solutions, an Argentina-based company, is developing its genetically modified (GM) drought-tolerant wheat trait (HB4) in accordance with U.S. biotech commercialization principles, as confirmed by U.S. Wheat Associates. The USDA approved the HB4 trait for cultivation in the U.S. in August, expanding potential wheat production by nearly 9.9 million acres. U.S. Wheat noted that negative public opinion on GM crops may be easing, and the introduction of HB4 wheat could pave the way for future GM traits. U.S. wheat commissions remain cautiously optimistic about the commercialization of the HB4 trait, stressing the need to meet market demands without harming existing trade.