MEDITERRANEAN/MIDDLE EAST COMMENTS After last week’s wheat tender Egypt’s GASC has booked 2.13 MMT of wheat this buying year – 935,000 MT from Russia, 660,000 MT from Romania, 475,000 MT from Ukraine and 60,000 MT from France. Egypt has announced that customs will no longer use a monthly set currency rate but will change to a daily rate based on the Central Bank exchange rates. Customs had been using a set rate for essential goods and a fluctuating monthly rate for non-essential goods. All will now fluctuate daily.
According to a recent study on the regional water situation, the Middle East and North Africa are some of the worlds most “water-stressed” regions. With the entire region dep...
Key Takeaways: The situation in the Arab Gulf is little changed this week, which is to say it is a day-by-day – and sometimes hour-by-hour – judgment call as to what is or will happen. There are some vessels transiting the Strait of Hormuz, but transits are a fraction of what they...
Grains posted strong gains today, putting the bulls firmly in the driver’s seat. There was no shortage of fuel for the move, with three W’s driving the rally: weather, war and worry. Weather: Cooler temperatures are temporarily easing stress across the Northern Plains and Midwest, b...
Key Takeaways: Global and U.S. cotton demand has struggled since the post-COVID-19 pandemic surge, which has left cotton prices drifting lower in the U.S. The war in Iran and the closure of the Strait of Hormuz, along with their impact on global energy markets, could boost cotton demand...
