The new floating Egyptian pound is likely to slow markets in the near term as traders and end-users adjust... Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Egypt The biggest news in the MENA region this week is the Egyptian government’s action in floating the Egyptian pound (EGP). The EGP/USD seems to have settled between 15.5-16/1 which is an amazing change from the near 9/1 rate last week. The government’s first move put the EGP/USD rate at 13/1 but with the black market rate closer to 18/1 the government’s initial action did not hold and the EGP was allowed to float. One suspects the only people happy with the floating pound will be the IMF, which had been pushing for significant financial change before finalizing the pending U...
What You Need to Know Today: A third U.S. border crossing (Columbus, New Mexico) has reopened to Mexican cattle imports following nearly two years of restrictions related to New World screwworm. The reopening could gradually improve feeder cattle availability, although more than 60 confi...
Yesterday, the USDA’s Agricultural Marketing Service (AMS) released a new report of negotiated cash purchases of cattle under the mandatory price report. The report included Colorado, New Mexico, Oklahoma, Texas, and Kansas. The goal of the report was to solve the confidentiality issues e...
Key Takeaways: U.S. soybean crushing began in 1911 and saw its most rapid expansion during the 1930s amid the broader agricultural and technology revolutions of the time. After peaking in the early 2000s, the soybean crushing industry went through a downturn as poor crush margins forced...
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