Market update week 17
Following a four-day break, European financial markets resumed trading, and as expected, losses dominated the first session of the week. The euro/dollar exchange rate caused some turbulence, briefly touching 1.15—its highest point since November 2021—before retreating. This strength in the euro negatively impacted the appeal of European exports. In the near term, the weakening U.S. dollar remains a key factor to monitor, particularly as ongoing uncertainty related to comments from Donald Trump continues to weigh on the currency. By Wednesday, the euro had eased slightly, dipping back below 1.14.
Following a four-day break, European financial markets resumed trading, and as expected, losses dominated the first session of the week. The euro/dollar exchange rate caused some turbulence, briefly touching 1.15—its highest point since November 2021—before retreating. This strength in the euro negatively impacted the appeal of European exports. In the near term, the weakening U.S. dollar remains a key factor to monitor, particularly as ongoing uncertainty related to comments from Donald Trump continues to weigh on the currency. By Wednesday, the euro had eased slightly, dipping back below 1.14.
Globally, wheat markets remain fairly stable, but corn markets are showing more bullish fundamentals. This is especially evident in the U.S., where demand remains robust. Export data supports this trend, with many international buyers—particularly in Spain and Portugal—taking advantage of reduced tariffs to lock in contracts.
Globally, wheat markets remain fairly stable, but corn markets are showing more bullish fundamentals. This is especially evident in the U.S., where demand remains robust. Export data supports this trend, with many international buyers—particularly in Spain and Portugal—taking advantage of reduced tariffs to lock in contracts.
According to USDA data released Monday evening, planting in the U.S. accelerated last week compared to both the previous week and the five-year average:
• Corn: 12% planted (up from 4% last week; 10% five-year average)
• Soybeans: 8% planted (up from 2% last week; 5% five-year average)
• Spring wheat: 17% planted (up from 7% last week; 12% five-year average)
According to USDA data released Monday evening, planting in the U.S. accelerated last week compared to both the previous week and the five-year average:
• Corn: 12% planted (up from 4% last week; 10% five-year average)
• Soybeans: 8% planted (up from 2% last week; 5% five-year average)
• Spring wheat: 17% planted (up from 7% last week; 12% five-year average)