Market update week 12
The euro-to-dollar exchange rate remains at its highest level since last November, currently exceeding 1.09. This situation presents challenges for export growth. However, as other currencies—especially the ruble—gain strength against the dollar, the price gap between different regions continues to widen. Traders in Western Europe are still waiting for a possible late surge in export demand that could help drive shipments to non-EU markets as the campaign nears its conclusion.
The euro-to-dollar exchange rate remains at its highest level since last November, currently exceeding 1.09. This situation presents challenges for export growth. However, as other currencies—especially the ruble—gain strength against the dollar, the price gap between different regions continues to widen. Traders in Western Europe are still waiting for a possible late surge in export demand that could help drive shipments to non-EU markets as the campaign nears its conclusion.
During an extended call yesterday, Putin declined Trump’s request for a broader ceasefire in Ukraine, agreeing only to scale back attacks on energy infrastructure. He also demanded an end to Western military and intelligence assistance to Kyiv, a proposal that Europe swiftly rejected. Meanwhile, both the UK and EU are ramping up their weapons deliveries to Ukraine.
During an extended call yesterday, Putin declined Trump’s request for a broader ceasefire in Ukraine, agreeing only to scale back attacks on energy infrastructure. He also demanded an end to Western military and intelligence assistance to Kyiv, a proposal that Europe swiftly rejected. Meanwhile, both the UK and EU are ramping up their weapons deliveries to Ukraine.
The reopening of the Chicago market earlier this week saw wheat prices rise. Strong winds sweeping across the plains reinforced concerns about ongoing dry weather, which remains a key factor to monitor as winter comes to an end. Additionally, the USDA released its latest crop assessment, downgrading Kansas crop conditions by four points from the previous week. Currently, 48% of the state’s wheat acreage is rated as being in “good to excellent” condition.
The reopening of the Chicago market earlier this week saw wheat prices rise. Strong winds sweeping across the plains reinforced concerns about ongoing dry weather, which remains a key factor to monitor as winter comes to an end. Additionally, the USDA released its latest crop assessment, downgrading Kansas crop conditions by four points from the previous week. Currently, 48% of the state’s wheat acreage is rated as being in “good to excellent” condition.