There have been comments in Egypt that lower-priced, imported wheat is being sold to the government as domestic stock because of its high purchase price. Government departments are said to be involved in the fraud, and the president has asked the agriculture ministry to investigate.
Regional Updates MEDITERRANEAN/MIDDLE EAST COMMENTS Egypt is reporting that local wheat purchases will now reach 5.3 MMT by the end of the season in July, a much higher volume than the original target of 3.7 MMT. There has been a great deal of comment in the country that lower-priced, imported wheat is being delivered as domestic stock in order to benefit from the government's purchase price, which is much higher than the international market rate...
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...
