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: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
