World Perspectives
feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt has decided not to set up a wheat hedging program for 2024/25 due to the recent weakness in wheat prices. Egypt has long talked about beginning wheat hedging but never seems able to make the final decision. With most of Egypt’s wheat purchases coming from the Black Sea, hedging can be a more difficult task.  Egypt is planning to build six wheat silos in 2024 at a cost of $145.6 million. These silos will increase total storage by 420,000 MT to 4.62MMT. $61.5 million is being supplied by the French Development Agency with Egypt providing the balance of the financing. Egypt reports that its wheat reserves stand at 4.2 months consumption. ...

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feed-grains soy-oilseeds wheat

Market Commentary: Looking for Demand Amidst Ample Supplies

Grain and oilseed trading was mostly in the red today, with livestock markets trading higher. Volume was higher today in soymeal, but otherwise it was modest and even relatively low in corn. Markets tend to drift when lacking any major new directional inputs.  USDA’s weekly Export Sa...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 25 Corn closed at $4.2375/bushel, down $0.03 from yesterday's close.  Dec 25 Wheat closed at $5.2425/bushel, down $0.04 from yesterday's close.  Nov 25 Soybeans closed at $10.375/bushel, down $0.0625 from yesterday's close.  Dec 25 Soymeal closed at $284.7/short ton, down $1...

livestock

Livestock Roundup: Cattle on Feed Preview

USDA’s monthly Cattle on Feed report will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 99.1 percent of last year with the range of estimates between 98.7 and 99.7 percent of 1 September 2024. Those estimates imply an on-fee...

feed-grains soy-oilseeds wheat

Market Commentary: Looking for Demand Amidst Ample Supplies

Grain and oilseed trading was mostly in the red today, with livestock markets trading higher. Volume was higher today in soymeal, but otherwise it was modest and even relatively low in corn. Markets tend to drift when lacking any major new directional inputs.  USDA’s weekly Export Sa...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 25 Corn closed at $4.2375/bushel, down $0.03 from yesterday's close.  Dec 25 Wheat closed at $5.2425/bushel, down $0.04 from yesterday's close.  Nov 25 Soybeans closed at $10.375/bushel, down $0.0625 from yesterday's close.  Dec 25 Soymeal closed at $284.7/short ton, down $1...

livestock

Livestock Roundup: Cattle on Feed Preview

USDA’s monthly Cattle on Feed report will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 99.1 percent of last year with the range of estimates between 98.7 and 99.7 percent of 1 September 2024. Those estimates imply an on-fee...

feed-grains soy-oilseeds wheat

Market Commentary: Markets Hopeful but Guarded on China; CBOT Falls on Demand Worries

Technical selling, disappointment with the USDA’s latest policy moves, and favorable rains across the Midwest took a bearish toll on the CBOT markets Wednesday. The Federal Reserve, as expected, cut interest rates today and signaled a more dovish approach for the next several months, whic...

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From WPI Consulting

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