Market update week 5
The soybean market saw relief with favourable rainfall of 25 to 50 mm in Argentina over the weekend. However, concerns persist about delayed harvesting in Mato Grosso, Brazil, due to excessive rainfall. This delay not only affects soybean yields but also has a cascading impact on the planting of Brazil’s second corn crop, known as the safrinha. Typically planted immediately after the soybean harvest, the safrinha crop is highly dependent on timely planting to maximize its yield potential.
The soybean market saw relief with favourable rainfall of 25 to 50 mm in Argentina over the weekend. However, concerns persist about delayed harvesting in Mato Grosso, Brazil, due to excessive rainfall. This delay not only affects soybean yields but also has a cascading impact on the planting of Brazil’s second corn crop, known as the safrinha. Typically planted immediately after the soybean harvest, the safrinha crop is highly dependent on timely planting to maximize its yield potential.
Over the weekend, Donald Trump swiftly imposed customs duties to pressure Colombia into accepting deported citizens from the United States. Although the issue was resolved within hours, this political and trade-related dispute highlights the new U.S. President’s willingness to engage in trade wars.
Over the weekend, Donald Trump swiftly imposed customs duties to pressure Colombia into accepting deported citizens from the United States. Although the issue was resolved within hours, this political and trade-related dispute highlights the new U.S. President’s willingness to engage in trade wars.
Tuesday’s market rebound on Euronext was driven by technical factors and signals of renewed importer interest. There were signs of fresh demand, including a wheat tender from Tunisia set for Wednesday. Additionally, reports indicated that Moroccan buyers continue purchasing European Union wheat, with Bulgaria from the Black Sea region securing a significant portion of these deals. Bulgaria was also rumoured to supply 50,000 tons of wheat to Jordan. Meanwhile, French exports largely focused on feed grains, with some reports suggesting Moroccan restrictions on German agricultural products, due to a foot-and-mouth disease outbreak, led to French barley replacing German shipments.
Tuesday’s market rebound on Euronext was driven by technical factors and signals of renewed importer interest. There were signs of fresh demand, including a wheat tender from Tunisia set for Wednesday. Additionally, reports indicated that Moroccan buyers continue purchasing European Union wheat, with Bulgaria from the Black Sea region securing a significant portion of these deals. Bulgaria was also rumoured to supply 50,000 tons of wheat to Jordan. Meanwhile, French exports largely focused on feed grains, with some reports suggesting Moroccan restrictions on German agricultural products, due to a foot-and-mouth disease outbreak, led to French barley replacing German shipments.