Egypt returns to buying US wheat

The recent US/China tariff deal seems to have been taken favourably by US traders, according to commodity trader Gleadell.

The October USDA report released on Thursday brought some surprises, according to Jonathan Lane, trading director at Gleadell.

Nibulon, one of Ukraine’s leading grain traders, is to invest up to US$2B within the next decade to upgrade Egypt’s grain storage and transport infrastructure.

Higher prices in the wheat market have continued due to adverse weather and poor crop out-turn.

Growing concerns over the actual size of this season’s EU and Russian wheat crops have led European prices to trade higher.

Nibulon, one of Ukraine’s leading grain traders, is to invest up to US$2B within the next decade to upgrade Egypt’s grain storage and transport infrastructure. The large-scale investment will be split over four stages, under an agreement reached this year with Egypt’s Ministry of Supply and Internal Trade.