FOB Prices and Freight Rates App (Updated 20 September)
Ocean Freight Comments - 20 September 2024 By Matt Herrington Baltic freight markets were mostly higher last week with the Capesize sector recovering from early weakness to trade 1 percent higher while the Panamax sector rose 9 percent. The bump came from better grain demand from the East Coast...
More Food, and Fewer Children
Few philanthropists are as focused on hunger in Sub-Saharan Africa than Bill Gates. The Bill and Melinda Gates Foundation has spent billions of dollars on the problem. Activists do not like his promotion of GMO’s as a solution, but they are not as focused as he is on human suffering...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s GASC is reported to have arranged a private purchase of 430,000 MT of Russian wheat at a price of $231 CIF. GASC has not confirmed this purchase. Egypt’s wheat imports, on a dollar basis,...
WASDE Wheat
WASDE WHEAT: USDA increased their estimate for 2024/25 global wheat supplies by 1.5 million tons to 1,062.1 million as higher beginning stocks were more than offset by lower production. World wheat trade is raised 1.7 million tons to 216.5 million as higher exports for Australia, Canada,...
Agricultural Trade with Africa
Africa’s population is on a trajectory that could double its size by 2050 to 2.5 billion, or a quarter of the global populace. The West (U.S., EU, Japan) are in a competition with the Axis (China, Russia) for influence over Africa. One way to influence is to actively trade, including in a...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s trade deficit in June dropped by 5.1 percent to $2.87 billion – in dollar terms wheat imports were down by 21.5 percent while corn imports saw a reduction of 28.6 percent. Total for all imports...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Saudi Arabia’s Arabian Mills has set the share issue price range under their upcoming IPO. The IPO is expected to raise about $271 million. The total offering will be for 15.4 million shares, which represent...
Middle East, Mediterranean and Africa Regional Analysis
MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Regional Updates Iranian wheat farmers are complaining that the government has not yet paid them for wheat delivered earlier in 2024 and that this is impacting planting for the next wheat crop. Iran’s government bought 11.6...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s recent massive wheat tender did not generate the 3.8 MMT of buying that GASC had planned. Reports say that the long delivery period – to April 2025 – coupled with the requirement for 270...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Iraq’s wheat production is estimated by the Iraq Wheat Board to be up by 21 percent to 6.3 MMT resulting in the second consecutive year of wheat self-sufficiency for the government. The Board adds that Iraq...
Interactive Ocean Freight Rates (Updated 9 August)
*** Developer Note *** This app is deprecited as of 13 August 2024 and will no longer be updated. Ocean Freight Comments - 9 August 2024 By Matt Herrington Dry-bulk markets continue to chop sideways with gains one week yielding losses the next before gains emerge again. This pas...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s Ministry of Supply has increased its selling price of wheat, both local and imported, by about 20 percent. At the same time, the price of government wheat flour has increased by 35 percent. These pri...
FOB Prices and Freight Rates App (Updated 20 September)
Ocean Freight Comments - 20 September 2024 By Matt Herrington Baltic freight markets were mostly higher last week with the Capesize sector recovering from early weakness to trade 1 percent higher while the Panamax sector rose 9 percent. The bump came from better grain demand from the East Coast...
More Food, and Fewer Children
Few philanthropists are as focused on hunger in Sub-Saharan Africa than Bill Gates. The Bill and Melinda Gates Foundation has spent billions of dollars on the problem. Activists do not like his promotion of GMO’s as a solution, but they are not as focused as he is on human suffering...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s GASC is reported to have arranged a private purchase of 430,000 MT of Russian wheat at a price of $231 CIF. GASC has not confirmed this purchase. Egypt’s wheat imports, on a dollar basis,...
WASDE Wheat
WASDE WHEAT: USDA increased their estimate for 2024/25 global wheat supplies by 1.5 million tons to 1,062.1 million as higher beginning stocks were more than offset by lower production. World wheat trade is raised 1.7 million tons to 216.5 million as higher exports for Australia, Canada,...
Agricultural Trade with Africa
Africa’s population is on a trajectory that could double its size by 2050 to 2.5 billion, or a quarter of the global populace. The West (U.S., EU, Japan) are in a competition with the Axis (China, Russia) for influence over Africa. One way to influence is to actively trade, including in a...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s trade deficit in June dropped by 5.1 percent to $2.87 billion – in dollar terms wheat imports were down by 21.5 percent while corn imports saw a reduction of 28.6 percent. Total for all imports...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Saudi Arabia’s Arabian Mills has set the share issue price range under their upcoming IPO. The IPO is expected to raise about $271 million. The total offering will be for 15.4 million shares, which represent...
Middle East, Mediterranean and Africa Regional Analysis
MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Regional Updates Iranian wheat farmers are complaining that the government has not yet paid them for wheat delivered earlier in 2024 and that this is impacting planting for the next wheat crop. Iran’s government bought 11.6...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s recent massive wheat tender did not generate the 3.8 MMT of buying that GASC had planned. Reports say that the long delivery period – to April 2025 – coupled with the requirement for 270...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Iraq’s wheat production is estimated by the Iraq Wheat Board to be up by 21 percent to 6.3 MMT resulting in the second consecutive year of wheat self-sufficiency for the government. The Board adds that Iraq...
Interactive Ocean Freight Rates (Updated 9 August)
*** Developer Note *** This app is deprecited as of 13 August 2024 and will no longer be updated. Ocean Freight Comments - 9 August 2024 By Matt Herrington Dry-bulk markets continue to chop sideways with gains one week yielding losses the next before gains emerge again. This pas...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s Ministry of Supply has increased its selling price of wheat, both local and imported, by about 20 percent. At the same time, the price of government wheat flour has increased by 35 percent. These pri...