There have been comments in Egypt that lower-priced, imported wheat is being sold to the government as domestic stock because of its high purchase price. Government departments are said to be involved in the fraud, and the president has asked the agriculture ministry to investigate.
Regional Updates MEDITERRANEAN/MIDDLE EAST COMMENTS Egypt is reporting that local wheat purchases will now reach 5.3 MMT by the end of the season in July, a much higher volume than the original target of 3.7 MMT. There has been a great deal of comment in the country that lower-priced, imported wheat is being delivered as domestic stock in order to benefit from the government's purchase price, which is much higher than the international market rate...
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...
