Big Grain Buyers in Africa, Asia Back Off After Price Surge
- Egypt books lone grain cargo; Turkey, Jordan cancel tenders
- Supply outlook tightening across major wheat producers
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Major crop buyers across Africa and Asia are pulling back from purchases, highlighting how the price rally across grain and oilseed markets is curbing demand.
Top wheat importer Egypt booked a lone grain cargo at a tender on Monday, its smallest volume in nearly a year, and has now scrapped a vegetable oils tender. Turkey canceled a tender seeking 515,000 tons of feed barley, a rare move. Jordan did the same for wheat, and Pakistan bought less than half the amount it sought last week.