Source : Agritel
European Market
Markets didn' evolve much yesterday, shared between tight fundamentals and the worrying financial European crisis whose positive outcome is uncertain. Moodys dropped the Spanish note yesterday. The consequence is an interest rate which increases for Spain. Despite this fact, the Euro remains strong versus dollar, the American money is penalized by quantitative easing expectations.
On the international stage, Algeria tenders for wheat. South Korea also bought 25.000t of wheat.
The temperatures are still very warm in the south of Russia (more than 35°C) and some rains crossed the Corn Belt, easing the situation for corn and soybeans. In France, rains during last week brings quality concerns for operators.
However, the market was supported by downward expectations for Australian production, cut to 24.1 Mt for the coming campaign because of lack of water on the country. The association of German cooperatives reviewed downward its harvest expectations for the coming campaign to 21.3 Mt of wheat versus 22 Mt last month.
Rapeseed prices retreaded yesterday, due to the uncertain economical context and a slowdown about the Chinese growth during last month.
European Market
Markets didn' evolve much yesterday, shared between tight fundamentals and the worrying financial European crisis whose positive outcome is uncertain. Moodys dropped the Spanish note yesterday. The consequence is an interest rate which increases for Spain. Despite this fact, the Euro remains strong versus dollar, the American money is penalized by quantitative easing expectations.
On the international stage, Algeria tenders for wheat. South Korea also bought 25.000t of wheat.
The temperatures are still very warm in the south of Russia (more than 35°C) and some rains crossed the Corn Belt, easing the situation for corn and soybeans. In France, rains during last week brings quality concerns for operators.
However, the market was supported by downward expectations for Australian production, cut to 24.1 Mt for the coming campaign because of lack of water on the country. The association of German cooperatives reviewed downward its harvest expectations for the coming campaign to 21.3 Mt of wheat versus 22 Mt last month.
Rapeseed prices retreaded yesterday, due to the uncertain economical context and a slowdown about the Chinese growth during last month.
No comments:
Post a Comment