Tidbits, Q&A: Cash Advance, November Futures, Wheat, USDA & NASA, Ethanol Demand 10/28/26
Tidbits
November futures contracts, HTA contracts, and basis contracts must be rolled or liquidated by the close of business on Thursday. As of yesterday’s settlement prices, if an HTA is rolled from November to January, it will gain about 14ٕ¢; if rolled to March, the HTA value will increase about 22¢. Note, however, a November basis contract rolled to January or March, the basis will weaken by the same amounts.
Egypt bought five wheat cargoes late last week from Poland through private deals. This is the first known wheat imports in several months for Egypt due to the Black Sea being closed and a decent home-grown wheat crop. In recent years, Egypt imported 10 to 12.5 million mts of wheat mostly from Russia (~60%) and Ukraine (~20%) and the EU.
USDA expects Egypt will import 12 to 12.5 million mts this marketing year and will use about 20 million mts. Egypt’s farmers harvested their 2026 wheat crop and sold it to local millers this year to meet the needs of their country for the past several months.
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