The volume of Saudi Arabia's wheat imports is notably shifting as its domestic production is affected by a change in land usage. Meanwhile, maize demand is projected to rapidly rise from two particular sectors.
Regional Updates Of very good news to Middle East/North Africa (MENA) milling wheat importers was the word from IKAR Russia, a major agricultural consultancy, that Russian wheat prices will probably drop by about 9 percent when the winter wheat is harvested. While old crop wheat is seen at about $225/MT FOB, the trade is quoting new crop at closer to $200/MT FOB. However, buyers will to have to wait until June/July to see that price level, and much can happen in three months or so.MENA buyers could find it much more diffi...
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...
