The Egyptian government reported that it has purchased a record volume of local wheat that is said to be well above its target at a price much higher than international levels.
Regional Updates MEDITERRANEAN/MIDDLE EAST COMMENTS The Egyptian government has purchased a record volume of local wheat. It has reported buying 4.6 MMT as of 22 May, which is well above its target of 3.7 MMT. The price paid of $366/MT is said to be the major factor in the large purchases as it is much higher than international price levels. The high purchase price had been announced prior to the planting of this year's crop, which certainly seems to have provided farmers with a great deal of incentive to plant wheat. Egypt will continue to buy loc...
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...
