Feed Grains
Market Commentary: Calm Before the Reports
All the major contracts opened in the green but by the close only soymeal, HRW, and the livestock complex remained that way. Profit-taking was one aspect but most noticeable was lower volume for most of the markets, and a narrow trading range for many. It appeared that everything was positioned...
Summary of Futures
May 23 Corn closed at $6.495/bushel, down $0.01 from yesterday's close. May 23 Wheat closed at $6.9225/bushel, down $0.125 from yesterday's close. May 23 Soybeans closed at $14.745/bushel, down $0.0275 from yesterday's close. May 23 Soymeal closed at $459.9/short ton, up $1.7...
Export Sales
Export Sales and Shipments for the period March 17-23, 2023 Wheat: Net sales of 151,700 metric tons (MT) for 2022/2023 were up 21 percent from the previous week, but down 40 percent from the prior 4-week average. Export shipments of 377,500 MT were up 4 percent from the previ...
Market Commentary: Calm Before the Reports
All the major contracts opened in the green but by the close only soymeal, HRW, and the livestock complex remained that way. Profit-taking was one aspect but most noticeable was lower volume for most of the markets, and a narrow trading range for many. It appeared that everything was positioned...
Summary of Futures
May 23 Corn closed at $6.495/bushel, down $0.01 from yesterday's close. May 23 Wheat closed at $6.9225/bushel, down $0.125 from yesterday's close. May 23 Soybeans closed at $14.745/bushel, down $0.0275 from yesterday's close. May 23 Soymeal closed at $459.9/short ton, up $1.7...
Export Sales
Export Sales and Shipments for the period March 17-23, 2023 Wheat: Net sales of 151,700 metric tons (MT) for 2022/2023 were up 21 percent from the previous week, but down 40 percent from the prior 4-week average. Export shipments of 377,500 MT were up 4 percent from the previ...
Market Commentary: Corn, Soybeans Spreads Bullish before Reports; Wheat Pares Early Gains
The ag trading world is abuzz with discussion of the coming Grain Stocks and Prospective Plantings reports that USDA will release on Friday. The stocks report is usually relatively (we use that word loosely) easy to predict but the planting numbers notoriously escape the range of pre-report est...
Soy & Oilseeds
Market Commentary: Calm Before the Reports
All the major contracts opened in the green but by the close only soymeal, HRW, and the livestock complex remained that way. Profit-taking was one aspect but most noticeable was lower volume for most of the markets, and a narrow trading range for many. It appeared that everything was positioned...
Summary of Futures
May 23 Corn closed at $6.495/bushel, down $0.01 from yesterday's close. May 23 Wheat closed at $6.9225/bushel, down $0.125 from yesterday's close. May 23 Soybeans closed at $14.745/bushel, down $0.0275 from yesterday's close. May 23 Soymeal closed at $459.9/short ton, up $1.7...
Export Sales
Export Sales and Shipments for the period March 17-23, 2023 Wheat: Net sales of 151,700 metric tons (MT) for 2022/2023 were up 21 percent from the previous week, but down 40 percent from the prior 4-week average. Export shipments of 377,500 MT were up 4 percent from the previ...
Market Commentary: Calm Before the Reports
All the major contracts opened in the green but by the close only soymeal, HRW, and the livestock complex remained that way. Profit-taking was one aspect but most noticeable was lower volume for most of the markets, and a narrow trading range for many. It appeared that everything was positioned...
Summary of Futures
May 23 Corn closed at $6.495/bushel, down $0.01 from yesterday's close. May 23 Wheat closed at $6.9225/bushel, down $0.125 from yesterday's close. May 23 Soybeans closed at $14.745/bushel, down $0.0275 from yesterday's close. May 23 Soymeal closed at $459.9/short ton, up $1.7...
Export Sales
Export Sales and Shipments for the period March 17-23, 2023 Wheat: Net sales of 151,700 metric tons (MT) for 2022/2023 were up 21 percent from the previous week, but down 40 percent from the prior 4-week average. Export shipments of 377,500 MT were up 4 percent from the previ...
Market Commentary: Corn, Soybeans Spreads Bullish before Reports; Wheat Pares Early Gains
The ag trading world is abuzz with discussion of the coming Grain Stocks and Prospective Plantings reports that USDA will release on Friday. The stocks report is usually relatively (we use that word loosely) easy to predict but the planting numbers notoriously escape the range of pre-report est...
Wheat
Market Commentary: Calm Before the Reports
All the major contracts opened in the green but by the close only soymeal, HRW, and the livestock complex remained that way. Profit-taking was one aspect but most noticeable was lower volume for most of the markets, and a narrow trading range for many. It appeared that everything was positioned...
Summary of Futures
May 23 Corn closed at $6.495/bushel, down $0.01 from yesterday's close. May 23 Wheat closed at $6.9225/bushel, down $0.125 from yesterday's close. May 23 Soybeans closed at $14.745/bushel, down $0.0275 from yesterday's close. May 23 Soymeal closed at $459.9/short ton, up $1.7...
Export Sales
Export Sales and Shipments for the period March 17-23, 2023 Wheat: Net sales of 151,700 metric tons (MT) for 2022/2023 were up 21 percent from the previous week, but down 40 percent from the prior 4-week average. Export shipments of 377,500 MT were up 4 percent from the previ...
Market Commentary: Calm Before the Reports
All the major contracts opened in the green but by the close only soymeal, HRW, and the livestock complex remained that way. Profit-taking was one aspect but most noticeable was lower volume for most of the markets, and a narrow trading range for many. It appeared that everything was positioned...
Summary of Futures
May 23 Corn closed at $6.495/bushel, down $0.01 from yesterday's close. May 23 Wheat closed at $6.9225/bushel, down $0.125 from yesterday's close. May 23 Soybeans closed at $14.745/bushel, down $0.0275 from yesterday's close. May 23 Soymeal closed at $459.9/short ton, up $1.7...
Export Sales
Export Sales and Shipments for the period March 17-23, 2023 Wheat: Net sales of 151,700 metric tons (MT) for 2022/2023 were up 21 percent from the previous week, but down 40 percent from the prior 4-week average. Export shipments of 377,500 MT were up 4 percent from the previ...
Market Commentary: Corn, Soybeans Spreads Bullish before Reports; Wheat Pares Early Gains
The ag trading world is abuzz with discussion of the coming Grain Stocks and Prospective Plantings reports that USDA will release on Friday. The stocks report is usually relatively (we use that word loosely) easy to predict but the planting numbers notoriously escape the range of pre-report est...
Livestock
Market Commentary: Calm Before the Reports
All the major contracts opened in the green but by the close only soymeal, HRW, and the livestock complex remained that way. Profit-taking was one aspect but most noticeable was lower volume for most of the markets, and a narrow trading range for many. It appeared that everything was positioned...
Summary of Futures
May 23 Corn closed at $6.495/bushel, down $0.01 from yesterday's close. May 23 Wheat closed at $6.9225/bushel, down $0.125 from yesterday's close. May 23 Soybeans closed at $14.745/bushel, down $0.0275 from yesterday's close. May 23 Soymeal closed at $459.9/short ton, up $1.7...
Hogs and Pigs Report: Status Quo Numbers
USDA released its first quarterly Hogs and Pigs report for the year today. At 72.86 million head, the total inventory as of 1 March was slightly above last year’s 72.69 million head. The report was generally in line with pre-report expectations, except there were a few more market...
Market Commentary: Calm Before the Reports
All the major contracts opened in the green but by the close only soymeal, HRW, and the livestock complex remained that way. Profit-taking was one aspect but most noticeable was lower volume for most of the markets, and a narrow trading range for many. It appeared that everything was positioned...
Summary of Futures
May 23 Corn closed at $6.495/bushel, down $0.01 from yesterday's close. May 23 Wheat closed at $6.9225/bushel, down $0.125 from yesterday's close. May 23 Soybeans closed at $14.745/bushel, down $0.0275 from yesterday's close. May 23 Soymeal closed at $459.9/short ton, up $1.7...
Hogs and Pigs Report: Status Quo Numbers
USDA released its first quarterly Hogs and Pigs report for the year today. At 72.86 million head, the total inventory as of 1 March was slightly above last year’s 72.69 million head. The report was generally in line with pre-report expectations, except there were a few more market...
Market Commentary: Corn, Soybeans Spreads Bullish before Reports; Wheat Pares Early Gains
The ag trading world is abuzz with discussion of the coming Grain Stocks and Prospective Plantings reports that USDA will release on Friday. The stocks report is usually relatively (we use that word loosely) easy to predict but the planting numbers notoriously escape the range of pre-report est...
Biofuels
Long Term Energy Outlook: Exporting Ethanol, Importing Biomass Based Diesel
The U.S. Energy Information Administration (EIA) recently released its Annual Energy Outlook (AEO) for 2023 – that report is the Department of Energy’s equivalent to USDA’s long term baseline projection. The USDA’s report forecasts out to 2032, while the AEO forecasts to...
Ag as Energy Future
Global trade had a record year in 2022, growing 10 percent above the 2021 level. For the U.S., the growth just was in its major bulk commodities, wheat, corn and soybeans. Geopolitics has China redirecting its imports to South America, and food security concerns cause barriers in many countries...
Temporary E15 Waiver Made a Difference in 2022
Ethanol blending rates increased in 2022 according to the Energy Information Administration (EIA), especially during this summer. In April the Biden EPA issued a one-year emergency waiver to allow year-round E15 in part to reduce retail gasoline prices in response to supply chain disruptions, t...
Long Term Energy Outlook: Exporting Ethanol, Importing Biomass Based Diesel
The U.S. Energy Information Administration (EIA) recently released its Annual Energy Outlook (AEO) for 2023 – that report is the Department of Energy’s equivalent to USDA’s long term baseline projection. The USDA’s report forecasts out to 2032, while the AEO forecasts to...
Ag as Energy Future
Global trade had a record year in 2022, growing 10 percent above the 2021 level. For the U.S., the growth just was in its major bulk commodities, wheat, corn and soybeans. Geopolitics has China redirecting its imports to South America, and food security concerns cause barriers in many countries...
Temporary E15 Waiver Made a Difference in 2022
Ethanol blending rates increased in 2022 according to the Energy Information Administration (EIA), especially during this summer. In April the Biden EPA issued a one-year emergency waiver to allow year-round E15 in part to reduce retail gasoline prices in response to supply chain disruptions, t...
Another Look at the RVOs for Ethanol
On Friday 2 December, WPI broke down the proposed 2023 - 2025 required volume obligations (RVOs) under the Renewable Fuel Standard. The rule was 692 pages long, and away from the top line summary, there are a few other bits of information worth taking a second look at and putting into context w...
Farm Inputs
AMLO Spits on U.S. Corn; Sovereign Right to EV’s; Green Fertilizer Dreams
AMLO Spits on U.S. Corn If there were any doubts in the U.S. government about Mexico’s intent about GMO corn, President Andrés Manuel López Obrador cleared up their unwarranted confusion. He said Mexico could not buy GMO corn because there is no evidence it is safe. In a Tru...
Fertilizer: No Room for Error
There are a lot of uncertainties in the market and ranging from the political like the war, to the mundane such as weather. One variable front and center is fertilizer. It is both essential to crop production, and an environmental externality. The goal of reducing its use has come squarely conf...
Fertilizer Crisis
Fortunately, Hurricane Ian did not adversely impact Florida’s production of phosphate for crop production, but nitrogen remains a major supply concern. This is especially true in Europe where limited natural gas supplies will be focused on winter heating needs and maintaining industrial o...
AMLO Spits on U.S. Corn; Sovereign Right to EV’s; Green Fertilizer Dreams
AMLO Spits on U.S. Corn If there were any doubts in the U.S. government about Mexico’s intent about GMO corn, President Andrés Manuel López Obrador cleared up their unwarranted confusion. He said Mexico could not buy GMO corn because there is no evidence it is safe. In a Tru...
Fertilizer: No Room for Error
There are a lot of uncertainties in the market and ranging from the political like the war, to the mundane such as weather. One variable front and center is fertilizer. It is both essential to crop production, and an environmental externality. The goal of reducing its use has come squarely conf...
Fertilizer Crisis
Fortunately, Hurricane Ian did not adversely impact Florida’s production of phosphate for crop production, but nitrogen remains a major supply concern. This is especially true in Europe where limited natural gas supplies will be focused on winter heating needs and maintaining industrial o...
South America’s Fertilizer Situation
Rabobank reports that fertilizer supplies will improve in 2023 with downward pressure on phosphate and potash prices, but nitrogen may see a 20-30 percent price hike. This is an important competitiveness factor for agricultural exporters. North and South America both have abundant supplies of p...
Equities
Market Commentary: Bullish End-of-Year Action in Soy Complex, Wheat
The CBOT posted another day of surprising between-holiday trade with multiple markets seeing above-average volume and scoring important technical developments. The major move for Friday’s trade came from soymeal, which boasted an upside breakout from a bull flag on the charts. The market...
Summary of Futures
Mar 21 Corn closed at $4.2375/bushel, up $0.03 from yesterday's close. Mar 21 Wheat closed at $5.885/bushel, up $0.1125 from yesterday's close. Jan 21 Soybeans closed at $11.53/bushel, down $0.09 from yesterday's close. Jan 21 Soymeal closed at $385.6/short ton, down $4.6 from...
Summary of Futures
Dec 20 Corn closed at $4.1625/bushel, up $0.0575 from yesterday's close. Dec 20 Wheat closed at $5.98/bushel, up $0.045 from yesterday's close. Jan 21 Soybeans closed at $11.535/bushel, up $0.055 from yesterday's close. Dec 20 Soymeal closed at $389.3/short ton, up $1.2 from y...
Market Commentary: Bullish End-of-Year Action in Soy Complex, Wheat
The CBOT posted another day of surprising between-holiday trade with multiple markets seeing above-average volume and scoring important technical developments. The major move for Friday’s trade came from soymeal, which boasted an upside breakout from a bull flag on the charts. The market...
Summary of Futures
Mar 21 Corn closed at $4.2375/bushel, up $0.03 from yesterday's close. Mar 21 Wheat closed at $5.885/bushel, up $0.1125 from yesterday's close. Jan 21 Soybeans closed at $11.53/bushel, down $0.09 from yesterday's close. Jan 21 Soymeal closed at $385.6/short ton, down $4.6 from...
Summary of Futures
Dec 20 Corn closed at $4.1625/bushel, up $0.0575 from yesterday's close. Dec 20 Wheat closed at $5.98/bushel, up $0.045 from yesterday's close. Jan 21 Soybeans closed at $11.535/bushel, up $0.055 from yesterday's close. Dec 20 Soymeal closed at $389.3/short ton, up $1.2 from y...
Historical Coronavirus Impacts
While agricultural commodity values have been adversely impacted by the latest coronavirus afflicting human populations, it has been nothing like the beating being taken by the equities markets. In both cases there is a view that the selloff has been exaggerated. In the parlance of Chicago, ove...
Energy
Summary of Futures
May 23 Corn closed at $6.495/bushel, down $0.01 from yesterday's close. May 23 Wheat closed at $6.9225/bushel, down $0.125 from yesterday's close. May 23 Soybeans closed at $14.745/bushel, down $0.0275 from yesterday's close. May 23 Soymeal closed at $459.9/short ton, up $1.7...
Summary of Futures
May 23 Corn closed at $6.505/bushel, up $0.0325 from yesterday's close. May 23 Wheat closed at $7.0475/bushel, up $0.05 from yesterday's close. May 23 Soybeans closed at $14.7725/bushel, up $0.095 from yesterday's close. May 23 Soymeal closed at $458.2/short ton, up $0.3 from...
Summary of Futures
May 23 Corn closed at $6.4725/bushel, down $0.01 from yesterday's close. May 23 Wheat closed at $6.9975/bushel, up $0.0175 from yesterday's close. May 23 Soybeans closed at $14.6775/bushel, up $0.255 from yesterday's close. May 23 Soymeal closed at $457.9/short ton, up $11.9 f...
Summary of Futures
May 23 Corn closed at $6.495/bushel, down $0.01 from yesterday's close. May 23 Wheat closed at $6.9225/bushel, down $0.125 from yesterday's close. May 23 Soybeans closed at $14.745/bushel, down $0.0275 from yesterday's close. May 23 Soymeal closed at $459.9/short ton, up $1.7...
Summary of Futures
May 23 Corn closed at $6.505/bushel, up $0.0325 from yesterday's close. May 23 Wheat closed at $7.0475/bushel, up $0.05 from yesterday's close. May 23 Soybeans closed at $14.7725/bushel, up $0.095 from yesterday's close. May 23 Soymeal closed at $458.2/short ton, up $0.3 from...
Summary of Futures
May 23 Corn closed at $6.4725/bushel, down $0.01 from yesterday's close. May 23 Wheat closed at $6.9975/bushel, up $0.0175 from yesterday's close. May 23 Soybeans closed at $14.6775/bushel, up $0.255 from yesterday's close. May 23 Soymeal closed at $457.9/short ton, up $11.9 f...
Long Term Energy Outlook: Exporting Ethanol, Importing Biomass Based Diesel
The U.S. Energy Information Administration (EIA) recently released its Annual Energy Outlook (AEO) for 2023 – that report is the Department of Energy’s equivalent to USDA’s long term baseline projection. The USDA’s report forecasts out to 2032, while the AEO forecasts to...
Softs
Rice is Tight
EU rice consumption has been rising at 1.8 percent CAGR at the same time production has fallen by 30 percent since 2018/19. Italy produces about half of the EU’s rice output, and it has suffered from drought. As a water intensive crop, climate change will have an outside impact on this st...
Thailand Rice Exports
Thai government official Anucha Burapachaisri said the target for rice exports has been raised to 7.5 MMT. The official cited both higher domestic production, and a rebounding global economy that has elevated the value of rice. In truth, Thai rice exports are highly correlated to production, wh...
Tomato Economics
U.S. domestic farm policy critics like U.S. Senator Cory Booker (D-New Jersey) have a point when they note that the Farm Bill encourages the production of commodities for which Americans often over-consume, while mostly ignoring what is under-consumed and known to be healthy – fruits and...
Rice is Tight
EU rice consumption has been rising at 1.8 percent CAGR at the same time production has fallen by 30 percent since 2018/19. Italy produces about half of the EU’s rice output, and it has suffered from drought. As a water intensive crop, climate change will have an outside impact on this st...
Thailand Rice Exports
Thai government official Anucha Burapachaisri said the target for rice exports has been raised to 7.5 MMT. The official cited both higher domestic production, and a rebounding global economy that has elevated the value of rice. In truth, Thai rice exports are highly correlated to production, wh...
Tomato Economics
U.S. domestic farm policy critics like U.S. Senator Cory Booker (D-New Jersey) have a point when they note that the Farm Bill encourages the production of commodities for which Americans often over-consume, while mostly ignoring what is under-consumed and known to be healthy – fruits and...
Oats are In
David McKee at Key International LCC points out the surge in demand for oat milk, which now dominates the creamer used at many coffee shops. Global oat production has been relatively stagnant for years, running at about half the output level of the 1960’s. Production this year increased b...
Macroeconomics
AI and Agriculture; Worker Centric Trade Policy is Dead
AI and Agriculture AI is the rage with some warning it will lead to human extinction, and others comparing its transformative impacts to the internet and smart phones. Those technologies have had their share of ethical concerns but the genie is now out of the bottle and short of government regu...
Friend-shoring Challenge
Friend-shoring or moving supply chains closer to being between like-minded nations doesn’t seem like an agriculture issue but it could become one. That is because the sector is increasingly being treated like a strategic asset, and it faces differentiated production standards as regulatio...
Unhelpful Timing; Tai Strengths and Weaknesses; IPEF’s Weakness
Unhelpful Timing The U.S. agriculture sector unleashed a pro-trade barrage on the Biden Administration this week and USDA bureaucrats wittingly or unwittingly contributed to the onslaught. U.S. agriculture is highly dependent on trade. It was first battered by Donald Trump’s trade war and...
AI and Agriculture; Worker Centric Trade Policy is Dead
AI and Agriculture AI is the rage with some warning it will lead to human extinction, and others comparing its transformative impacts to the internet and smart phones. Those technologies have had their share of ethical concerns but the genie is now out of the bottle and short of government regu...
Friend-shoring Challenge
Friend-shoring or moving supply chains closer to being between like-minded nations doesn’t seem like an agriculture issue but it could become one. That is because the sector is increasingly being treated like a strategic asset, and it faces differentiated production standards as regulatio...
Unhelpful Timing; Tai Strengths and Weaknesses; IPEF’s Weakness
Unhelpful Timing The U.S. agriculture sector unleashed a pro-trade barrage on the Biden Administration this week and USDA bureaucrats wittingly or unwittingly contributed to the onslaught. U.S. agriculture is highly dependent on trade. It was first battered by Donald Trump’s trade war and...
Farm Bill Foci
While the human diet is a complex affair and animal protein, unlike many other commodities, lacks a title in the Farm Bill, it is the most egregious food to some activist groups. They specifically cite the contribution of livestock to climate change. These groups have some work cut out for them...
Pulses
Year of the Pulse
The International Grains Council (IGC) announced that it will include pulses in its definition of grains and expand market information on these products. Trade in pulses has been increasing as they grow in stature as a staple food and plant-based protein. The pod-based seeds of the legume famil...
An IPO-Level Look at the Veggie Burger Sector
Beyond Meat, the maker of a vegetable protein meat alternative product, is preparing for an IPO. It will be offering 8.75 million shares at $19-21, which would raise $175 million at the mid-point price. The company’s cornerstone product is the Beyond Burger, which is now available at a nu...
Indian Subcontinent Regional Analysis
Higher Early Sugar Production and Slow Exports Could Pressure Prices Due to the early start of the 2018/19 sugarcane crushing season, Indian sugar mills were able to produce 21.93 MMT of sugar as of 15 February 2019 versus 20.36 MMT at the same point a year ago, an increase of 7.71 percent. Ano...
Year of the Pulse
The International Grains Council (IGC) announced that it will include pulses in its definition of grains and expand market information on these products. Trade in pulses has been increasing as they grow in stature as a staple food and plant-based protein. The pod-based seeds of the legume famil...
An IPO-Level Look at the Veggie Burger Sector
Beyond Meat, the maker of a vegetable protein meat alternative product, is preparing for an IPO. It will be offering 8.75 million shares at $19-21, which would raise $175 million at the mid-point price. The company’s cornerstone product is the Beyond Burger, which is now available at a nu...
Indian Subcontinent Regional Analysis
Higher Early Sugar Production and Slow Exports Could Pressure Prices Due to the early start of the 2018/19 sugarcane crushing season, Indian sugar mills were able to produce 21.93 MMT of sugar as of 15 February 2019 versus 20.36 MMT at the same point a year ago, an increase of 7.71 percent. Ano...
Indian Subcontinent Regional Analysis
Sugar Production Estimates Lowered Based on new satellite survey data from the Indian Sugar Mills Association’s (ISMA’s) satellite survey of sugarcane plantings, the sugar production estimate has been decreased from 31.5 MMT to 30.7 MMT. That is 4.3 MMT or 12.28 percent lower than t...
Freight
FOB Prices and Freight Rate App (Updated 30 Mar.)
Ocean Freight Comments - 30 March 2023 By Jay O'Neil Commodity Consulting Dry-bulk ocean freight markets were fairly quiet and dull this week and moved mostly sideways. Vessel owners continue to look for improved cargo demand, and finding none, must settle for holding rates steady and not losin...
Interactive Ocean Freight Rates (Updated 30 Mar.)
Ocean Freight Comments - 30 March 2023 By Jay O'Neil Commodity Consulting Dry-bulk ocean freight markets were fairly quiet and dull this week and moved mostly sideways. Vessel owners continue to look for improved cargo demand, and finding none, must settle for holding rates steady and not losin...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt is expected to have to devalue its currency again according to Societe Generale bank. It says that by the end of the next quarter about 10 percent will have to be devalued in order to meet foreign exchange p...
FOB Prices and Freight Rate App (Updated 30 Mar.)
Ocean Freight Comments - 30 March 2023 By Jay O'Neil Commodity Consulting Dry-bulk ocean freight markets were fairly quiet and dull this week and moved mostly sideways. Vessel owners continue to look for improved cargo demand, and finding none, must settle for holding rates steady and not losin...
Interactive Ocean Freight Rates (Updated 30 Mar.)
Ocean Freight Comments - 30 March 2023 By Jay O'Neil Commodity Consulting Dry-bulk ocean freight markets were fairly quiet and dull this week and moved mostly sideways. Vessel owners continue to look for improved cargo demand, and finding none, must settle for holding rates steady and not losin...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt is expected to have to devalue its currency again according to Societe Generale bank. It says that by the end of the next quarter about 10 percent will have to be devalued in order to meet foreign exchange p...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Saudi Arabia received a 60,000 MT barley shipment from Australia financed by a joint arrangement between Salic Group and Mansour Al-Mosaid Company and the Saudi Agricultural Development Fund. This is being done un...