Saudi Arabia's wheat imports are projected to rise by about 10 percent in 2015/16 as local production is decreasing and will be phased out by 2016. It is possible that the government will allow a few farmers to continue growing the crop, but it might discontinue providing them with support.
Regional Updates Wheat importers in the Middle East/North Africa (MENA) region were pleased with the announcement that Russia's wheat export tax will be lifted almost immediately. It has been forecast that approximately 1.2 MMT of Russian wheat can now be exported during the period of the next few weeks through 30 June, the end of the marketing year. Even with those shipments, Russia is expected to have higher-than-average wheat stocks...
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...