Market update week 9
At the start of the week, the raw materials market is facing a significant downturn. The U.S. dollar is weakening, and Tesla’s stock— which is seen as a reflection of the new U.S. administration — plummeted by 8.4% yesterday. Oil prices in New York have also dropped below $70 per barrel, as investors anticipate a possible easing of sanctions on Russia if a peace agreement regarding Ukraine is reached.
At the start of the week, the raw materials market is facing a significant downturn. The U.S. dollar is weakening, and Tesla’s stock— which is seen as a reflection of the new U.S. administration — plummeted by 8.4% yesterday. Oil prices in New York have also dropped below $70 per barrel, as investors anticipate a possible easing of sanctions on Russia if a peace agreement regarding Ukraine is reached.
French wheat prices are holding steady as traders work to finalize export contracts. Despite offering competitive pricing, Algeria’s latest purchase—estimated at 150,000 to 170,000 tons—once again appears to favor suppliers from the Black Sea region. Meanwhile, corn prices on Euronext continue to move in line with wheat, benefiting from France’s cost advantage over Ukrainian corn.
French wheat prices are holding steady as traders work to finalize export contracts. Despite offering competitive pricing, Algeria’s latest purchase—estimated at 150,000 to 170,000 tons—once again appears to favor suppliers from the Black Sea region. Meanwhile, corn prices on Euronext continue to move in line with wheat, benefiting from France’s cost advantage over Ukrainian corn.
Weather conditions in Argentina have improved, with recent rainfall totalling around 100mm and more precipitation on the way, helping to ease concerns. In Brazil, corn planting is making steady progress. As for U.S. corn exports, the USDA reported weekly shipments of 1.13 million tons. While this remains a notable volume, it reflects a decline after two straight weeks of exports surpassing 1.6 million tons.
Weather conditions in Argentina have improved, with recent rainfall totalling around 100mm and more precipitation on the way, helping to ease concerns. In Brazil, corn planting is making steady progress. As for U.S. corn exports, the USDA reported weekly shipments of 1.13 million tons. While this remains a notable volume, it reflects a decline after two straight weeks of exports surpassing 1.6 million tons.