News Updates EGYPT COMMENTS With financial problems in Egypt plaguing the government, GASC must look at a wide range of alternative methods to pay for needed wheat imports. GASC's recent 60,000 MT purchase of U.S. wheat was funded by USDA export finance programs. It now looks like Egypt is considering buying from the grain trade through private agreements, as had been done before GASC began self-financing. GASC is required to finance import letters of credit in cash because of Egypt's new foreign exchange regulations, but these days it has been unable to provide the cash needed. Of course, GASC is not the only organization being hit by the new regulations; all importers must follow the same foreign exchange rules and have been finding it...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: WPI’s new EU rapeseed crushing margin models point to weaker processing returns over the next four months due to higher rapeseed procurement costs and weaker product values. Statistical forecasts call for German crushing margins to decline from €181/MT to €...
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