Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt Grain Situation Recap:
Wheat stocks in Egypt are at good levels, with only limited import interest. However, there is some concern over the supply of wheat from the Black Sea later in the year due to current weather problems. Maize stocks in Egypt, like wheat, are very good, and both imports and new orders are reported to have decreased. South American maize from both Argentina and Brazil is the lowest priced. Soybeans from the U.S. continue to be the most cost-effective for Egypt, with booked supplies expected to meet demand through September. Ukraine is expected to be more of a factor in soybeans with its new crop.
Egypt’s government purchase of local wheat is...
What You Need to Know Today: Wheat prices surged after Ukrainian strikes on Russian vessels and infrastructure disrupted grain shipments, halting traffic through the Sea of Azov, Kerch Strait, and Black Sea. The July WASDE report offered a modestly supportive outlook for corn, wheat, and soybe...
The trade deficit in goods and services came in at $77.6 billion in May, slightly smaller than the consensus estimate of $78.4 billion. After a few months of relative stability, the trade deficit widened in May. The increase in the deficit for the month was due to both a rise in imports, which...
Every June combines begin their annual sweep across the winter wheat fields of Texas, Oklahoma, and Kansas. At the same time, USDA releases its Acreage and Crop Progress reports, providing the first comprehensive look at the size and condition of the crop. Most years the reports simply confirm...
