FOB Prices and Freight Rate App (Updated 25 May)
Ocean Freight Comments - 19 May 2022 By Jay O'Neil Commodity Consulting I have not seen a significant uptick in cargo demand this week, but dry-bulk paper traders in the FFA market tried to keep last week’s rally going and managed to close the week with small gains. Physical markets have...
Interactive Ocean Freight Rates (Updated 25 May)
Ocean Freight Comments - 19 May 2022 By Jay O'Neil Commodity Consulting I have not seen a significant uptick in cargo demand this week, but dry-bulk paper traders in the FFA market tried to keep last week’s rally going and managed to close the week with small gains. Physical markets have...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s Central Bank has increased interest rates by 2 percent to a maximum of 12.25 percent as a measure to control inflation that has been complicated by the Russia/Ukraine “tensions” and relat...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egyptian officials have requested exemption from India’s recent export ban on wheat. Talks at the “highest level” are said to be taking place. For its part, India has said that only exports again...
WASDE Wheat
WHEAT: USDA’s outlook for 2022/23 is for higher U.S. wheat prices. U.S. 2022/23 wheat supplies are projected down 3 percent, as lower beginning stocks more than offset a larger harvest. All wheat production for 2022/23 is projected at 1,729 million bushels, up 83 million from...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt has begun to harvest trial plantings of GMO wheat that is expected to increase crop yields by 33 percent. The wheat is said to be drought resistant and able to be grown in areas with high saline levels in th...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Much of the region is closed until 5 May due to post Ramadan Muslim holidays for Eid El Fitr. Iraq’s official projection for the wheat crop for 2022 is 2.5-3 MMT which the government says will cover all need...
Hunger by Policy
U.S. officials are headed to Kenya to resume free trade negotiations and while there they ought to talk about the source of Nairobi’s food insecurity this year – its ban on GMO maize. Sub-Saharan corn and wheat production have been generally outpacing the region’s growing popu...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION The end of Ramadan means that the Middle East and North Africa will be on holiday from 30 April until about 5 May with some variation in dates depending on the country. Egypt will be closed for Eid El Fitr, follow...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s GASC is reportedly considering buying wheat directly from suppliers without international tenders. Offers directly from suppliers are expected to be consider for purchase and price negotiation by the...
Bipolar World; GMO Hobgoblins
Bipolar World Countries were already divided before Russia’s war on Ukraine, but the conflict has brought it into plain sight. The WTO has been unable to reach any new agreements for decades. Director-General Ngozi Okonjo-Iweala acknowledged this week that the upcoming 12th ministerial co...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt soybean/soymeal forecasts by USDA FAS show an increase in soybean imports for local crushing. Much of the increase is due to increased demand for soyoil for the retail sector and higher soymeal demand from a...
FOB Prices and Freight Rate App (Updated 25 May)
Ocean Freight Comments - 19 May 2022 By Jay O'Neil Commodity Consulting I have not seen a significant uptick in cargo demand this week, but dry-bulk paper traders in the FFA market tried to keep last week’s rally going and managed to close the week with small gains. Physical markets have...
Interactive Ocean Freight Rates (Updated 25 May)
Ocean Freight Comments - 19 May 2022 By Jay O'Neil Commodity Consulting I have not seen a significant uptick in cargo demand this week, but dry-bulk paper traders in the FFA market tried to keep last week’s rally going and managed to close the week with small gains. Physical markets have...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s Central Bank has increased interest rates by 2 percent to a maximum of 12.25 percent as a measure to control inflation that has been complicated by the Russia/Ukraine “tensions” and relat...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egyptian officials have requested exemption from India’s recent export ban on wheat. Talks at the “highest level” are said to be taking place. For its part, India has said that only exports again...
WASDE Wheat
WHEAT: USDA’s outlook for 2022/23 is for higher U.S. wheat prices. U.S. 2022/23 wheat supplies are projected down 3 percent, as lower beginning stocks more than offset a larger harvest. All wheat production for 2022/23 is projected at 1,729 million bushels, up 83 million from...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt has begun to harvest trial plantings of GMO wheat that is expected to increase crop yields by 33 percent. The wheat is said to be drought resistant and able to be grown in areas with high saline levels in th...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Much of the region is closed until 5 May due to post Ramadan Muslim holidays for Eid El Fitr. Iraq’s official projection for the wheat crop for 2022 is 2.5-3 MMT which the government says will cover all need...
Hunger by Policy
U.S. officials are headed to Kenya to resume free trade negotiations and while there they ought to talk about the source of Nairobi’s food insecurity this year – its ban on GMO maize. Sub-Saharan corn and wheat production have been generally outpacing the region’s growing popu...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION The end of Ramadan means that the Middle East and North Africa will be on holiday from 30 April until about 5 May with some variation in dates depending on the country. Egypt will be closed for Eid El Fitr, follow...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s GASC is reportedly considering buying wheat directly from suppliers without international tenders. Offers directly from suppliers are expected to be consider for purchase and price negotiation by the...
Bipolar World; GMO Hobgoblins
Bipolar World Countries were already divided before Russia’s war on Ukraine, but the conflict has brought it into plain sight. The WTO has been unable to reach any new agreements for decades. Director-General Ngozi Okonjo-Iweala acknowledged this week that the upcoming 12th ministerial co...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt soybean/soymeal forecasts by USDA FAS show an increase in soybean imports for local crushing. Much of the increase is due to increased demand for soyoil for the retail sector and higher soymeal demand from a...