Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Turkey’s year end wheat stocks are expected to drop by 61 percent due to the wheat import ban. The ban is set to expand in October but wheat imports for the year are seen dropping by 3 MMT – a drop of 30 percent.
Turkey’s 2024/25 production estimates are lower for all grain due to limited rainfall and high temperatures in grain growing areas, as reported by USDA-FAS. However, for most grains, consumption levels did not drop due to large carry-over stocks from the previous year. Egypt’s Alexandria Flour Mills reported a 34 percent increase in profits for the 2023/24 year. Gaza reportedly received the first 1,000...
What You Need to Know Today: Crude oil prices dropped sharply with traffic flowing through the Strait of Hormuz. There were reports that Iran was behind an attack on a cargo ship near the coast of Oman, which would be a violation of the memorandum of understanding between the U.S. and Iran. Pr...
On Wednesday, the White House submitted a national security supplemental spending request for $87.6 billion. The majority of the request includes funding for the conflict in the Middle East, but there are agricultural provisions as well. The supplemental funding package includes more than $11 b...
