The Egyptian government reported that it has purchased a record volume of local wheat that is said to be well above its target at a price much higher than international levels.
Regional Updates MEDITERRANEAN/MIDDLE EAST COMMENTS The Egyptian government has purchased a record volume of local wheat. It has reported buying 4.6 MMT as of 22 May, which is well above its target of 3.7 MMT. The price paid of $366/MT is said to be the major factor in the large purchases as it is much higher than international price levels. The high purchase price had been announced prior to the planting of this year's crop, which certainly seems to have provided farmers with a great deal of incentive to plant wheat. Egypt will continue to buy loc...
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...
