The recent Egyptian purchase of Russian wheat is reportedly due to the weakness in the Russian ruble that has made Russian wheat exports more competitive in the region. The ruble is now at its lowest level against the USD since 2009.
News Updates MEDITERRANEAN/MIDDLE EAST COMMENTS Iranian officials stated that the government plans to purchase 10 MMT of locally-produced wheat during the 2014 crop season. This would be a doubling of what it was able to purchase from farmers in 2013. The increase will probably result from the government publishing the wheat price prior to planting. That is expected to motivate farmers to plant more wheat to then sell to the government, which is also increasing the number of wheat receiving centers...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Key Takeaways: Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive pri...