Regional Updates MIDDLE EAST/ MIDDLE EAST COMMENTS The press in Russia reports that talks are underway with Libya regarding the purchase of 1 MMT of Russian wheat, both milling and feed wheat, at a cost of approximately $700 million. Although no agreement has been reached, Libya does require that level of volume. The Russian government also reports that Algeria is very interested in a supply of wheat. A trial lot will be inspected by its officials in Russia and then, if accepted, shipped to that country for local import inspection and approval. Most of its wheat imports tend to be from France, but Russia hopes to be allowed to take part in its wheat tenders. Russian wheat is currently prohibited because it does to meet Algerian bug damag...
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...
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