Pakistan reportedly has a large surplus of wheat that will rise considerably after the next harvest. If the government does adjust the export price, which was set much higher than global prices in 2015, there could be a significant volume available to markets in the Middle East/North Africa (MENA) region.
Regional Updates MEDITERRANEAN/MIDDLE EAST COMMENTS Importers in Morocco are looking forward to Argentina’s elimination of the corn export tax this week, as stated by that country’s new president and backed by the finance minister. Argentina is Morocco’s main supplier of corn, and importers there are hoping to gain $35/MT in lower prices with removal of the 20 percent tax. It is a bit difficult to imagine tha...
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...
