Middle-East Arab News and Opinion - Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities
Chicago corn fell on Monday weighed by the prospect of improving weather in some producing regions. Wheat edged up, while soybeans dropped slightly. The most-active corn contract on the Chicago Board of Trade (CBOT) slid 1.53% to $7.38-3/4 a bushel. Chicago wheat rose 0.19% to $9.38-1/4 a bushel, while soybean shed 0.26% to $14.2-1/2 a .
The ongoing Russia-Ukraine war has caused a potential global food crisis as the supplies of grains via the Black Sea have been disrupted. Egypt, which is one of the world's biggest wheat importers, is now looking for alternatives to meet demands.
Egypt has contracted to buy 180,000 tonnes of wheat from India, the Supply Minister Aly Moselhy said in a news conference on Sunday (June 26). Moselhy added that the shipment will happen once the cargo "reaches the ports" in India.