Milling Wheat The Black Sea market seems to have reached its seasonal bottom. The market in Russia has been under pressure during the past month on fears that the government might introduce export restrictions, and the prospects of a possible export tax accelerated shipments to the maximum logistical capacity. The volume in August was 4.5 MMT, and the September total is expected to be similar. At the current export pace, the surplus will be depleted before the end of the calendar year. The Russian ruble is firmer against the USD at 65.8 after reaching 70.5 just two weeks ago, a development that is also favoring exporters. The Egyptian GASC bought a total 475,000 MT last week for 1-10 November and 10-20 November positions. This included 41...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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