Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Turkey’s year end wheat stocks are expected to drop by 61 percent due to the wheat import ban. The ban is set to expand in October but wheat imports for the year are seen dropping by 3 MMT – a drop of 30 percent.
Turkey’s 2024/25 production estimates are lower for all grain due to limited rainfall and high temperatures in grain growing areas, as reported by USDA-FAS. However, for most grains, consumption levels did not drop due to large carry-over stocks from the previous year. Egypt’s Alexandria Flour Mills reported a 34 percent increase in profits for the 2023/24 year. Gaza reportedly received the first 1,000...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...