Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt Grain Situation Recap:
Egypt’s wheat market is very quiet due to good stocks and low demand. Private sector millers are using local wheat production. Egypt’s maize imports have picked up this week, with shipments arriving from both Brazil and Argentina. Stocks on hand are still very good. Local prices for imported maize are said to be below replacement as a result of the large stocks. A large volume of soybeans arrived this week — about 222,000 MT. Stocks are said to be high, with no need for new purchases before about September.
Egypt is reported by USSEC to be the second-largest importer of U.S. soybeans, having imported 4.5 MMT in the first 4...
What You Need to Know Today: Tensions in the Middle East escalated over the weekend with Iran demanding the U.S. make multiple concessions that are likely non-starters before traffic can flow through the Strait of Hormuz again. Saudi Arabia, Pakistan, and Turkey signed a mutual defense agreeme...
Senator John Boozman (R-Arkansas) has urged farmers to apply pressure on the failed farm bill during the August recess. His intent is to hold another vote on the legislation as soon as possible upon the Senate’s return from a five-week break on 14 September. From a parliamentary perspecti...
