Egypt hits 1 MMT of wheat buying this month!
It appears with some outside help Egypt is rushing to take advantage of current prices to start refilling its pantry. As I've noted before - if there is the potential for public demonstrations a regime will make food availability a top priority to contain the desire to express anxiety and anger in their lives.
The number comes from Agrimoney. http://www.agrimoney.com/news/egypt-takes-july-wheat-orders-to-nearly-1m-tonnes--6106.html
Re: Egypt hits 1 MMT of wheat buying this month! good,, sell help supply their need
Begs the question where do they get their advice. Please review your posts related to wheat over the last 24 months. Egypt is a poor country and are desperate vs. market savvy. Was it fall 2011 when someone suggested they were making a smart buy as wheat then tanked.
The world supply/demand wheat situation shows plentitude. WE NEED lots of exports to not drown in our own over production.