World Perspectives

Recent Middle East & Africa Analysis

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Turkish flour miller Ulusoy Un Sanayi has received $25 million in six year debt facility from Hollands FMQ development bank. Ulusoy is one of Turkey’s largest flour millers with its business split 50/50 between local flour busi...

FOB Prices and Freight Rate App (Updated 21 January)

Ocean Freight Comments - 21 January 2022 By Jay O'Neil Commodity Consulting This is certainly not the way vessel owners expected early 2022 markets to play out. The Capesize index has lost 90% of its value since last October as slack cargo demand and nervous FFA paper traders are not supporting...

Interactive Ocean Freight Rates (Updated 21 January)

Ocean Freight Comments - 20 January 2022 By Jay O'Neil Commodity Consulting This is certainly not the way vessel owners expected early 2022 markets to play out. The Capesize index has lost 90% of its value since last October as slack cargo demand and nervous FFA paper traders are not supporting...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Tunisian officials say the country has sufficient stocks of soft wheat, durum, and barley to cover all requirements until May 2022. Pakistan wheat flour prices have increased by about 15 percent due to the recent ban on the interprov...

wheat

WASDE Wheat

U.S. wheat ending stocks for 2021/22 are raised 30 million bushels to 628 million.  The season-average farm price is raised $0.10 per bushel to $7.15. ...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  MEA region grain importers will face lower Russian export quotas in 2022 – 8 MMT of wheat and a total of 3 MMT for barley, corn, and rye. The initial quota period is from 15 February to 30 June and is a decrease over the origin...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Syria is facing a water crisis in the northeast that it blames on Turkey. Dams on the Euphrates River in Turkey have reduced the river's flow while Turkish control on Syrian water stations is said to have limited water supplies for a...

farm-inputs

Africa Already Green

When the EU and the African Union meet in February, Brussels will reportedly encourage the AU to adopt Europe’s Green Deal/Farm to Fork strategy in agriculture, which involves 50 percent reduction in the use of pesticides, plus a 20 percent reduction in fertilizer. Europe already uses 20...

wheat

Rarely Due to War

Syria’s wheat production collapsed this year, but it was not due to the nearly decade-long civil war. The FAO cites three causes: 1) drought; 2) high input costs; and 3) economic crisis. Indeed, despite massive destruction and poverty due to the war, Syria 2019 wheat crop was the largest...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Egypt’s Agricultural Bank is putting up EGP 4 billion (about U.S. $254 million) “to mitigate the negative effects of the coronavirus pandemic”. All accounts with debts and defaults up to EGP 100,000 (U.S. $6,400) in...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Egypt reports that current wheat reserves will cover consumption for 5.3 months. Egypt’s Alexandria port experienced severe weather this week which resulted in container losses overboard on at least one vessel and a number of d...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Pakistan has agreed that the transportation of 50,000 MT wheat from India to Afghanistan, via Pakistan, can be done using Afghan trucks. India had wanted to use Indian trucks and refused to agree to Pakistan trucks. Hopefully Afghan...

feed-grains wheat soy-oilseeds

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Pakistan and India are having difficulty in agreeing on the method to move Indian wheat to Afghanistan through Pakistan. While the shipment of 50,000 MT has been approved by Pakistan, it is insisting on the use of Pakistan trucks and...

feed-grains soy-oilseeds

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Bangladesh reports that the lowest offer under its 50,000 MT wheat tender is $409.77 MT CNF Liner Out with the other three offers ranging from $431.83 to 441.00. No purchase has been finalized yet. Iran is expected to leave the subsi...

feed-grains soy-oilseeds

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Iraq says it intends to tender for 500,000 MT of wheat in December 2021 or early 2022. The tender will cover all wheat needs until the next harvest in May 2022. Pakistan may have given approval to the transport of Indian wheat, by ro...

soy-oilseeds

Oilseed Highlights: China Soy Crush; U.S. Soy Yield; Egypt Tender; NOPA Crush

China’s Soybean Crush Increasing as Power Rationing Ends For the last several weeks many Chinese soybean processors were forced to shut down because of government decrees rationing electrical power. However, the power rationing has now ended, and the processors have been able to operate t...

farm-inputs

No N, No GMO, No Food

Some environmentalists were aghast at the COP26 meeting when mega-billionaire and serial do-gooder Bill Gates described nitrogen fertilizer as “magical” and opined that, “to grow crops, you want tons of nitrogen.” They called nitrogen fertilizer a major cause of greenhou...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Bangladesh poultry industry leaders have asked the government to help their suffering industry by reducing the tax on animal feed manufacturers from 15 percent to 5 percent and they want to exempt the taxes on feed raw materials for...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Cyprus' government has set aside €9 million for the support of animal farmers who are suffering due to very high grain and feed prices. High prices are related to both high international prices and supply difficulties caused by...

feed-grains soy-oilseeds wheat

Market Commentary: Defying the Calls

The market opened as called but the grains could not be held down for long. By mid-session corn and wheat were back held aloft by trusting bulls despite an underwhelming Export Sales report and several other factors urging caution. These include continued lack of Chinese demand, expectations of...

softs

Volatility in Pistachios

The U.S. first displaced Iran as the world’s leading producer of pistachios in 2012 and for the past four years it has not even been a contest. Iran’s downfall was in part U.S. trade sanctions, but also its failure to manage water resources and disease problems properly. While the p...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Iran is reported to be the largest buyer of grain from Russia in the first three months of MY 2021/22. Shipments to Iran are: 3.7 MMT – 3.1 MMT of wheat, 392,000 MT of barley and 215,000 MT of corn.  Egypt’s grain cr...

feed-grains

Sorghum Dominance

Sub Saharan Africa (SSA) is the largest sorghum producing region in the world, growing nearly 44 percent of global output. Yet it exports and imports only a small fraction of globally traded milo. Production in the region has been relatively stable. By contrast, world trade in sorghum has been...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Abu Dhabi’s Al Dhara Holdings announced plans to build five animal feed facilities in Eastern Europe (Serbia, Romania and Bulgaria). The company’s first venture is a 120,000 MT per year feed mill in Serbia with 20,000 MT...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Turkish flour miller Ulusoy Un Sanayi has received $25 million in six year debt facility from Hollands FMQ development bank. Ulusoy is one of Turkey’s largest flour millers with its business split 50/50 between local flour busi...

FOB Prices and Freight Rate App (Updated 21 January)

Ocean Freight Comments - 21 January 2022 By Jay O'Neil Commodity Consulting This is certainly not the way vessel owners expected early 2022 markets to play out. The Capesize index has lost 90% of its value since last October as slack cargo demand and nervous FFA paper traders are not supporting...

Interactive Ocean Freight Rates (Updated 21 January)

Ocean Freight Comments - 20 January 2022 By Jay O'Neil Commodity Consulting This is certainly not the way vessel owners expected early 2022 markets to play out. The Capesize index has lost 90% of its value since last October as slack cargo demand and nervous FFA paper traders are not supporting...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Tunisian officials say the country has sufficient stocks of soft wheat, durum, and barley to cover all requirements until May 2022. Pakistan wheat flour prices have increased by about 15 percent due to the recent ban on the interprov...

wheat

WASDE Wheat

U.S. wheat ending stocks for 2021/22 are raised 30 million bushels to 628 million.  The season-average farm price is raised $0.10 per bushel to $7.15. ...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  MEA region grain importers will face lower Russian export quotas in 2022 – 8 MMT of wheat and a total of 3 MMT for barley, corn, and rye. The initial quota period is from 15 February to 30 June and is a decrease over the origin...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Syria is facing a water crisis in the northeast that it blames on Turkey. Dams on the Euphrates River in Turkey have reduced the river's flow while Turkish control on Syrian water stations is said to have limited water supplies for a...

farm-inputs

Africa Already Green

When the EU and the African Union meet in February, Brussels will reportedly encourage the AU to adopt Europe’s Green Deal/Farm to Fork strategy in agriculture, which involves 50 percent reduction in the use of pesticides, plus a 20 percent reduction in fertilizer. Europe already uses 20...

wheat

Rarely Due to War

Syria’s wheat production collapsed this year, but it was not due to the nearly decade-long civil war. The FAO cites three causes: 1) drought; 2) high input costs; and 3) economic crisis. Indeed, despite massive destruction and poverty due to the war, Syria 2019 wheat crop was the largest...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Egypt’s Agricultural Bank is putting up EGP 4 billion (about U.S. $254 million) “to mitigate the negative effects of the coronavirus pandemic”. All accounts with debts and defaults up to EGP 100,000 (U.S. $6,400) in...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Egypt reports that current wheat reserves will cover consumption for 5.3 months. Egypt’s Alexandria port experienced severe weather this week which resulted in container losses overboard on at least one vessel and a number of d...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Pakistan has agreed that the transportation of 50,000 MT wheat from India to Afghanistan, via Pakistan, can be done using Afghan trucks. India had wanted to use Indian trucks and refused to agree to Pakistan trucks. Hopefully Afghan...

feed-grains wheat soy-oilseeds

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Pakistan and India are having difficulty in agreeing on the method to move Indian wheat to Afghanistan through Pakistan. While the shipment of 50,000 MT has been approved by Pakistan, it is insisting on the use of Pakistan trucks and...

feed-grains soy-oilseeds

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Bangladesh reports that the lowest offer under its 50,000 MT wheat tender is $409.77 MT CNF Liner Out with the other three offers ranging from $431.83 to 441.00. No purchase has been finalized yet. Iran is expected to leave the subsi...

feed-grains soy-oilseeds

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Iraq says it intends to tender for 500,000 MT of wheat in December 2021 or early 2022. The tender will cover all wheat needs until the next harvest in May 2022. Pakistan may have given approval to the transport of Indian wheat, by ro...

soy-oilseeds

Oilseed Highlights: China Soy Crush; U.S. Soy Yield; Egypt Tender; NOPA Crush

China’s Soybean Crush Increasing as Power Rationing Ends For the last several weeks many Chinese soybean processors were forced to shut down because of government decrees rationing electrical power. However, the power rationing has now ended, and the processors have been able to operate t...

farm-inputs

No N, No GMO, No Food

Some environmentalists were aghast at the COP26 meeting when mega-billionaire and serial do-gooder Bill Gates described nitrogen fertilizer as “magical” and opined that, “to grow crops, you want tons of nitrogen.” They called nitrogen fertilizer a major cause of greenhou...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Bangladesh poultry industry leaders have asked the government to help their suffering industry by reducing the tax on animal feed manufacturers from 15 percent to 5 percent and they want to exempt the taxes on feed raw materials for...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Cyprus' government has set aside €9 million for the support of animal farmers who are suffering due to very high grain and feed prices. High prices are related to both high international prices and supply difficulties caused by...

feed-grains soy-oilseeds wheat

Market Commentary: Defying the Calls

The market opened as called but the grains could not be held down for long. By mid-session corn and wheat were back held aloft by trusting bulls despite an underwhelming Export Sales report and several other factors urging caution. These include continued lack of Chinese demand, expectations of...

softs

Volatility in Pistachios

The U.S. first displaced Iran as the world’s leading producer of pistachios in 2012 and for the past four years it has not even been a contest. Iran’s downfall was in part U.S. trade sanctions, but also its failure to manage water resources and disease problems properly. While the p...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Iran is reported to be the largest buyer of grain from Russia in the first three months of MY 2021/22. Shipments to Iran are: 3.7 MMT – 3.1 MMT of wheat, 392,000 MT of barley and 215,000 MT of corn.  Egypt’s grain cr...

feed-grains

Sorghum Dominance

Sub Saharan Africa (SSA) is the largest sorghum producing region in the world, growing nearly 44 percent of global output. Yet it exports and imports only a small fraction of globally traded milo. Production in the region has been relatively stable. By contrast, world trade in sorghum has been...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Abu Dhabi’s Al Dhara Holdings announced plans to build five animal feed facilities in Eastern Europe (Serbia, Romania and Bulgaria). The company’s first venture is a 120,000 MT per year feed mill in Serbia with 20,000 MT...

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