With domestic food price inflation approaching close to 10 percent, Egypt is using $6 billion received from Saudi Arabia, Kuwait and the UAE to make more U.S. dollars available to the nation's banks, which have been advised to discount the exchange rate by 1 percent for food importers.
Regional Updates Wheat importers in the Middle East and North Africa (MENA) region are watching Russia with great interest as that country's agriculture ministry has proposed altering the current wheat export duty that is due to expire 30 June. The change would reduce this tariff to just 1 euro/MT from the current minimum of 35 euros/MT. The new duty rate would be tied to the local wheat price and would increase when that cost rose above 12...
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...
