The wheat market in Romania and Bulgaria is extremely quiet. No trades have been reported in recent weeks except for one Moroccan tender as farmers are unwilling to sell at current prices. Having started the winter wheat planting, tthey are also very concerned about another factor. Milling Wheat The Black Sea market is stable to slightly firmer. Egypt has finally ended its zero ergot tolerance standard and resumed buying Russian wheat. Meanwhile, India has lowered its import tax on wheat from 25 percent to 10 percent, and the trade consensus is that a minimum of 2 MMT of Russian/Ukrainian stocks will be sold to that country.The Russian crop is estimated at 70-72 MMT versus 61 MMT last year, but there are significant quality concerns. The...
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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