Farmer Directors Elect Mike Spier as Next President and CEO of U.S. Wheat Associates

Nov 25, 2024

At their board meeting Nov. 14, 2024, U.S. Wheat Associates (USW) directors elected Mike Spier, Vice President of Overseas Operations, as the export market organization’s next President and CEO, effective with the retirement of current President and CEO Vince Peterson on July 1, 2025.

“I am deeply honored and humbled to be elected to this position and grateful to our officers and directors for their trust and confidence,” said Spier. “I am also immensely grateful to Vince Peterson, whose vision and dedication have laid a durable foundation for future success. I look forward to working with my outstanding colleagues, as well as the National Association of Wheat Growers, state wheat commissions, and our industry partners. Together, we will continue to innovate, create new export opportunities, enhance profitability for U.S. wheat growers, and deliver value to customers overseas.”

The USW President serves at the pleasure of the wheat farmers on its Board of Directors and is responsible for implementing board-directed policies and for managing staff, export market development programs, and finances.

“Mike is well-known and respected by our overseas wheat buyers and the entire domestic industry. He is highly qualified, and I am very pleased the board selected him to lead the organization,” said Peterson, who was named USW’s fourth President in 2017. “With strong support from our board, we have maintained a solid financial position that will give Mike and our talented, hard-working staff a great foundation to meet the challenges and opportunities ahead in the world wheat market.”

Spier is an Oregon native who has a bachelor’s degree in accounting from Seattle Pacific University. He started his career in 1992 as an accountant and then a grain merchandiser with United Grain Corporation in Portland, Ore. In 1997, he joined USW as Assistant Director of the West Coast Office. Spier relocated to Cairo, Egypt, in 1998 as USW Assistant Regional Director for the Middle East and East Africa. After four years in Cairo, he transferred to Manila, Philippines, as Assistant Regional Director for South and Southeast Asia. In 2009, USW promoted Spier to Regional Vice President for South and Southeast Asia and transferred him to USW’s Singapore Regional Office. In 2015, Spier transitioned to Columbia Grain International Inc. (CGI) as Assistant Vice President of International Marketing, establishing CGI’s Singapore office for marketing international milling wheat in Southeast Asia. In 2018, he moved to the company’s headquarters in Portland, Oregon to lead CGI’s international wheat marketing desk. In 2019, Spier returned to USW as Vice President of Overseas Operations.

Click here to see more...

Video: Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?

Historically, the USDA December crop report is a non-event or another dud report as the USDA reserves any final supply changes to the final report in January of the following year in this case 2026. But after the longest U.S. government shutdown in history at 43 days and no October crop report will they provide more data/surprise and make an exception?
Our China U.S. soybean purchase tracker is now at 26.6% or a total of 3.2 mmt but for traders it’s taking too long to unfold.
The final Stats Canada production report was bearish canola and wheat projection a record crop in both (it adds to the global glut of supplies) and bullish local corn and soybean prices in Ontario/Quebec thanks to a drought. It will not help the fund flow short-term, the USDA may need to offset it?
A U.S. Fed interest rate cut of another 25-basis point next Wednesday (probability 87.1%) could help fund flow and sentiment in stock and ag commodities into year end.
More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
A V-shaped bottom in cattle suggest the lows are in after Mexico reported another new world screwworm case. Lower weights, seasonal demand and higher U.S. beef select/choice values with a continued closure of the Mexican border to cattle will result in a resumption of higher cattle futures into yearend.
Australia is expected to produce its 3rd largest wheat crop ever at 36 mmt adding to the global glut of supplies.
Reports of ASF in hogs in Spain the largest pork exporter in Europe could see the U.S. win more pork export business long-term.
If the rains verify into next week of 3-5 inches for Brazil it would go a long way to fixing the dry regions from the last 2-months, but the European weather model has been wrong for the past 2-months!
Natural gas futures are surging to the 3rd price count as frigid hold temps set in.
CDN $ is also surging to end the week on a very resilient economy and better employment numbers suggesting no interest rate cuts next week.
Finally, the CFTC report showed funds were net buyers of soybeans but sellers of corn, canola and wheat. In real time the funds have gone back to selling as they take some profits.