Milling Wheat The market in the Black Sea is firmer without much activity. Russian wheat is about $10 higher versus last week, and French and U.S. wheat prices are up about $20. Consequently, Russian wheat became the cheapest wheat by far for Egypt. However, there is not much liquidity in the Black Sea market and the wheat price could move significantly higher if Egypt and other destinations come into the market for volume.Tunisia this week bought 125,000 MT and paid between $289-293 CNF for August/September deliveries. Although the offers were for optional origin, they were clearly based on Black Sea wheat.Jordan bought 50,000 MT of Black Sea origin, paying $309.50 CNF for October shipment. The price was considered aggressive because th...
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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