Egypt's GASC had a very busy week with two tenders and surprising purchases of wheat from France and the U.S. It bought 180,000 MT of French wheat at an average price of $247.40/MT CNF and 55,000 MT of U.S. soft red winter wheat at $244.42/MT CNF.
News Updates Russia announced that its August grain exports have reached the highest level in 10 years at approximately 4.2 MMT. It stated that the major destination was Turkey (18 percent), followed by Egypt (13 percent), Iran (10 percent), South Africa (5 percent) and Israel (5 percent). As a further point, up to 90 percent of the shipments out of the Black Sea are said to be grains. MEDITERRANEAN/MIDDLE EAST COMMENTS Reports in Iran indicate that the government has purchased a lar...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
