The Iranian government forecasts wheat imports will drop to 2 MMT this year as it plans to purchase as much as 7.7 MMT of the expected 11 MMT in domestic production.
Regional Updates MEDITERRANEAN/MIDDLE EAST COMMENTS The recent FAO report on Iraq indicates that both the barley and wheat crops look quite good, although the country's current difficulties could make the harvest problematic. In spite of that concern, the positive crop forecast is expected to slightly reduce Iraqi grain imports this year to approximately 4.6 MMT, including rice. 70 percent of the total is anticipated to be comprised of wheat.Syrian grain crops are expected to be down significantly this year with a 22 percent drop in wheat and 40 percent decline in...
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...
