Market update week 45
FranceAgriMer issued an update last Thursday on the progress of fieldwork in France as of October 28:
• Wheat sowing reached 41%, up from 21% the previous week, but remains below the seasonal average of 65%.
• Winter barley sowing stands at 62%, an increase from 38% the prior week, though still behind the usual 80% for this period.
• Corn harvesting reached 38%, an improvement from 25% the previous week, yet lags behind the average of 81%.
FranceAgriMer issued an update last Thursday on the progress of fieldwork in France as of October 28:
• Wheat sowing reached 41%, up from 21% the previous week, but remains below the seasonal average of 65%.
• Winter barley sowing stands at 62%, an increase from 38% the prior week, though still behind the usual 80% for this period.
• Corn harvesting reached 38%, an improvement from 25% the previous week, yet lags behind the average of 81%.
Currently, French wheat is gaining in competitiveness compared to Russian exports. However, this trend will need to be confirmed through export sales. Morocco has recently resumed purchases, and now Algeria has issued a new tender. The coming days will likely shed light on the competitiveness of various suppliers. Russia continues to maintain a high export pace month after month, and its newly announced minimum price, set by the Kremlin, will be another factor to monitor.
Currently, French wheat is gaining in competitiveness compared to Russian exports. However, this trend will need to be confirmed through export sales. Morocco has recently resumed purchases, and now Algeria has issued a new tender. The coming days will likely shed light on the competitiveness of various suppliers. Russia continues to maintain a high export pace month after month, and its newly announced minimum price, set by the Kremlin, will be another factor to monitor.
After the initial news of Donald Trump being re-elected as president, the dollar began to increase in value. We saw a similar trend in 2016 after his first election. From the moment he officially became president (January 20, 2017), however, the dollar declined sharply in value. Whether we will see a similar trend this time is impossible to predict, but it seems likely. The current rise in the dollar appears, for now, to be due to a sell-off of U.S. bonds (leading to rising interest rates). Bond investors are doing this because they expect higher inflation under Trump.
After the initial news of Donald Trump being re-elected as president, the dollar began to increase in value. We saw a similar trend in 2016 after his first election. From the moment he officially became president (January 20, 2017), however, the dollar declined sharply in value. Whether we will see a similar trend this time is impossible to predict, but it seems likely. The current rise in the dollar appears, for now, to be due to a sell-off of U.S. bonds (leading to rising interest rates). Bond investors are doing this because they expect higher inflation under Trump.