Egyptian purchase helps wheat rally

Egypt has set the tone for the 2024-25 wheat market.The world’s largest importer has struck a deal to buy 3.12 million tonnes of Black Sea wheat from November to April, according to Reuters.Egypt’s General Authority for Supply Commodities (GASC) will be importing 510,000 tonnes per month from the region in one of the biggest direct wheat deals ever signed.“This is a wake-up call to some of the other major buyers out there that if they were waiting for prices to drop, they will