Egypt has launched a massive tender to import 3.8 million metric tons of wheat, its largest ever tender according to traders, as the country seeks to take advantage of a slump in global wheat prices to 4-year lows.
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Egypt bets big with historic 3.8 million metric ton wheat tender
U.S. grains: Soybeans dip, despite exports
Damage to Canada's durum could impact pasta prices
Chicago | Reuters — Chicago soybean prices fell for a second session on Wednesday, despite recent export activity, with analysts pointing to traders squaring positions heading into the end of the month. Wheat traded higher, supported by global demand and concerns about Canada’s crop. Corn was near even as traders wait for the harvest to
U.S. grains: Soy, corn fall on crop tour’s promising early reports
Egypt wheat tender signals demand
Chicago | Reuters — Chicago soybeans fell on Tuesday as above-average crop scouting during a Midwest tour outweighed hot, dry weather in U.S. growing belts. Corn was also pressured by promising early crop tour results, but found support in a recent spate of export sales. Wheat ended higher as global demand remains strong, though an
New exchange offers Egypt another way to import wheat
Egypt’s state grains buyer will be able to make international wheat purchases through a newly launched exchange that is also aimed at eliminating local price distortions. With grain markets disrupted this year by fluctuating prices and the war in Ukraine, Egypt’s General Authority for Supply Commodities (GASC) has been diversifying its purchasing methods. It recently
Egypt’s private sector wheat imports stall due to dollar shortage
"We are in the red zone"
Cairo | Reuters — The price of wheat and flour used to make unsubsidized bread has spiked in Egypt as importers struggle to pay for wheat stuck at ports amid a dollar shortage, traders and the country’s chamber of cereals told Reuters this week. Around 700,000 tonnes of wheat haven’t been released from customs, causing
Egypt to require wheat suppliers to register in new exchange
Egypt’s state grains buyer will require wheat suppliers to register with the country’s commodities exchange before November, according to a document seen by Reuters. The General Authority for Supply Commodities (GASC) added in a letter sent to traders that it will not buy from unregistered suppliers from the start of November onward. Traders contacted by
Egypt shifts from wheat tenders to direct deals amid Ukraine uncertainty
Reuters – Egypt is in its latest round of talks to buy wheat by direct purchase, traders said, a system the government has said can provide more attractive prices since the Ukraine war disrupted grain markets. Egypt’s state grains buyer, the General Authority for Supply Commodities (GASC), held private talks with at least three suppliers,
U.S. grains: Soybeans, wheat, corn fall as traders book profits
Dispatches from crop tour limit day's losses
Chicago | Reuters — Chicago Board of Trade soybeans, wheat and corn futures fell on Thursday on a profit-taking setback after rallying earlier in the week, traders said. “We are just running into a bit of technical resistance across the board,” said Dan O’Bryan, a risk management specialist and broker at Top Third StoneX. “You
First Ukraine grain deal ship docks in Turkey
Lebanese buyer refused delivery
Istanbul | Reuters –– The first grain ship to depart from Ukraine under a U.N.-brokered deal docked in Turkey on Thursday after 11 days at sea, Refinitiv data showed, and the ship’s agent in Turkey said it would continue to Egypt after unloading part of its cargo. The Razoni set sail from Ukraine’s Odesa port
Canada seeks to boost foreign aid for food security
Grain traffic out of Ukraine not yet easing crisis
Amman | Reuters — An international food crisis exacerbated by the Ukraine war has spurred Canada to boost an over $6 billion annual foreign aid budget to help the most hard-hit countries in Africa and the Middle East, Canada’s aid minister said on Thursday. “The Ukraine crisis is creating shock waves when it comes to
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