Egypt’s Booming Soybean Imports Egypt’s soybean imports have significantly risen due to a combination of sharp increases in soymeal demand from its poultry and aquaculture sectors, expanded soybean processing capacity and less expensive U.S. soybeans. USDA is forecasting it will import a total 3.05 MMT in 2017/18 versus 2.115 MMT in 2016/17 and projects the volume will reach 3.15 MMT in 2018/19. Oil World indicates Egypt imported 2.585 MMT of soybeans in the first eight months of CY 2018 compared with only 1.529 MMT during the same period last year. The table below shows that the largest beneficiary of this import growth has been the U.S.
USDA is forecasting Egypt’s 2017/18 soymeal imports will total 700,000 MT, subst...
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...
