The recent Egyptian purchase of Russian wheat is reportedly due to the weakness in the Russian ruble that has made Russian wheat exports more competitive in the region. The ruble is now at its lowest level against the USD since 2009.
News Updates MEDITERRANEAN/MIDDLE EAST COMMENTS Iranian officials stated that the government plans to purchase 10 MMT of locally-produced wheat during the 2014 crop season. This would be a doubling of what it was able to purchase from farmers in 2013. The increase will probably result from the government publishing the wheat price prior to planting. That is expected to motivate farmers to plant more wheat to then sell to the government, which is also increasing the number of wheat receiving centers...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
