Milling Wheat The market in the Black Sea is firmer without much activity. Russian wheat is about $10 higher versus last week, and French and U.S. wheat prices are up about $20. Consequently, Russian wheat became the cheapest wheat by far for Egypt. However, there is not much liquidity in the Black Sea market and the wheat price could move significantly higher if Egypt and other destinations come into the market for volume.Tunisia this week bought 125,000 MT and paid between $289-293 CNF for August/September deliveries. Although the offers were for optional origin, they were clearly based on Black Sea wheat.Jordan bought 50,000 MT of Black Sea origin, paying $309.50 CNF for October shipment. The price was considered aggressive because th...
Key Takeaways: President Trump announced $8 billion in additional agricultural assistance through the Harvest Fuel Relief Program, as USDA projects farm fuel and oil expenses will increase 28.8 percent in 2026. The package follows $12 billion in earlier relief, while government farm payments w...
Key Takeaways: A student group from the University of Chicago is protesting to bring back onion futures trading. Trading in onion futures was banned in 1958 following a spectacular bout of market manipulation that resulted in a corner of the physical market. The ban on onion futures led t...
Beef packer margins deteriorated to $141/head last week, down $55 from the prior week as fed cattle prices strengthened while the Choice cutout remained nearly unchanged. The cutout held near $373/cwt while fed cattle prices climbed $4/cwt to $224/cwt, narrowing processor profits. Despite the d...
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