Chicago | Reuters — Record-high yields are helping U.S. farmers to harvest a bumper crop of hard red winter (HRW) wheat, the most common variety here, but prices have tumbled as the world is awash in supplies. The quality of the crop is also causing headaches for flour millers, who may have to buy more […] Read more
Bumper winter wheat harvest ill-timed for U.S. farmers
Canada’s durum market share seen dropping
CNS Canada –– Global durum values are moving lower as producers in Europe and the U.S. start selling — and leaving Canada out of the market, one analyst says. “The only one that’s not selling aggressively is Canada, and we’re losing market share, big time,” said Jerry Klassen, manager of the Canadian office for Swiss-based […] Read more
Egypt prosecutor says some local wheat bought on paper only
Cairo | Reuters –– Egypt’s general prosecutor said on Thursday some local wheat was bought by the government in paper transactions only and not physically delivered, the first public statement by his office on the matter since fraud allegations surfaced last month. Egypt, the world’s largest wheat importer, launched a government-led inspection of wheat silos […] Read more
Chicago oats rally with Prairie rains, for now
CNS Canada — Oat prices at the Chicago Board of Trade have advanced as rain soaks Canada’s crops, but one U.S. analyst doesn’t expect those gains to hold. Close to half of Canada’s seeded oat area is in Saskatchewan, Statistics Canada data shows, and some parts of the province have seen heavy rains and flooding. […] Read more
Prairie wheat bids soften with U.S. futures
CNS Canada — Spring wheat cash bids across Western Canada softened during the week ended Friday, as a downturn in U.S. futures put pressure on prices. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were down by roughly $5 per tonne, according to price quotes from a cross-section of delivery points […] Read more
Egypt to follow global standard for ergot starting Tuesday
Cairo | Reuters — Egypt will allow up to 0.05 per cent ergot, a common grains fungus, in wheat shipments beginning on Tuesday, confirming the end of a months-long standoff just before the country re-enters the international wheat market. Reuters exclusively reported on July 4 that a ministerial decree would allow the world’s top wheat […] Read more
Wet wheat weather watched worldwide
CNS Canada — Generous rainfall has benefited but also boosted the risk of disease on wheat crops in much of Canada and the U.S., and has also cut into grain quality in parts of Europe. However, according to Drew Lerner of U.S. forecast agency World Weather Inc., conditions during the harvest season will be the […] Read more
Egypt appoints new top wheat buyer
Cairo | Reuters — Egypt appointed a new head on Sunday for its state wheat-importing body — one of the most influential positions in the global wheat market — as it remains mired in a dispute over the quality of grain it will buy. Minister of Supply Khaled Hanafi told Reuters Ahmed Youssef has been […] Read more
Sluggish demand, ample supplies eat into Lethbridge feed prices
CNS Canada — Lethbridge feed wheat and barley prices have dropped after a muted spring rally — and they’re likely to stay low throughout the summer, market participants say. “They have a weak tone to them. I think a lot of it is lacklustre demand domestically,” said Allen Pirness, trader at Market Place Commodities in […] Read more
Egypt’s parliament to look into wheat fraud allegations
Cairo | Reuters — Egypt’s parliament has set up a fact-finding commission that will look into allegations of corruption in local wheat procurement. Egypt, the world’s largest wheat importer, this month announced a government-led inspection of wheat silos after an unusually high procurement figure prompted allegations of possible fraud from top industry officials, traders and […] Read more
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