Market update week 48
After a significant setback the day before, wheat prices attempted a recovery on Euronext, stabilizing near 225 €/t for March 2025 contracts. The situation remains challenging due to persistent competition from Russian wheat. However, demand is beginning to show signs of revival. Algeria recently purchased soft wheat to supply its smaller ports, Tenes and Mostaganem, while Tunisia is returning to the market, with the OTC issuing a tender today for 100,000 tons each of soft and durum wheat.
After a significant setback the day before, wheat prices attempted a recovery on Euronext, stabilizing near 225 €/t for March 2025 contracts. The situation remains challenging due to persistent competition from Russian wheat. However, demand is beginning to show signs of revival. Algeria recently purchased soft wheat to supply its smaller ports, Tenes and Mostaganem, while Tunisia is returning to the market, with the OTC issuing a tender today for 100,000 tons each of soft and durum wheat.
President-elect Donald Trump has announced plans to introduce broad tariffs targeting Mexico, Canada, and China as part of his efforts to curb illegal immigration and drug trafficking. He proposed a 25% tax on all goods imported from Mexico and Canada and an additional 10% tariff on products from China, aiming to make these measures among his first executive orders.
President-elect Donald Trump has announced plans to introduce broad tariffs targeting Mexico, Canada, and China as part of his efforts to curb illegal immigration and drug trafficking. He proposed a 25% tax on all goods imported from Mexico and Canada and an additional 10% tariff on products from China, aiming to make these measures among his first executive orders.
FranceAgriMer provided an update on agricultural progress in France as of November 18:
- Winter wheat sowing: Completed on 90% of fields, up from 78% the previous week and above the 87% historical average.
- Winter barley sowing: 96% finished, compared to 89% last week and 93% on average.
- Corn harvesting: Reached 82%, increasing from 71% the prior week but still below the usual 96% completion rate for this time.
FranceAgriMer provided an update on agricultural progress in France as of November 18:
- Winter wheat sowing: Completed on 90% of fields, up from 78% the previous week and above the 87% historical average.
- Winter barley sowing: 96% finished, compared to 89% last week and 93% on average.
- Corn harvesting: Reached 82%, increasing from 71% the prior week but still below the usual 96% completion rate for this time.