Turkey reports that this year’s wheat production will be a record 23 MMT, but imports will continue. This is because quite a bit of the crop is of low quality and needs to be blended with higher quality imported milling wheat.
Regional Updates MEDITERRANEAN/MIDDLE EAST COMMENTS As detailed in the Weekly Tender section below, Egypt’s GASC bought 240,000 MT of French, Polish and Romanian wheat this week, which will enable its reserves to cover needs to April 2016. The euro’s recent drop in value has made European wheat much more competitive in USD wheat tenders with the aforementioned Egyptian transaction an example. Russia’s higher domestic wheat prices have pushed up export prices to the point that...
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...
