Grain traders squared positions ahead of the Easter holiday weekend on Thursday. Corn prices fared the best up nearly 1% on a round of technical buying. Soybean contracts trended slightly higher while wheat prices fell significantly, with most contracts down 1.5% to 2.5% on profit-taking. Corn prices remain underpinned possible U.S. planting delays and Ukraine grain unavailable for export. May corn futures added 7.5 cents to $7.91, with July futures up 6.5 cents to $7.8450. Corn export shipments were 1% … Continue reading “Corn Prices Remain Underpinned by U.S. Planting Delays and Ukraine Grain Unavailable for Export”
The French Blue Chip stock index, the CAC 40 soared almost 29 percent in 2021, its best showing in over 20 years after closing the last day of the year down 0.9% to 7,153. A strong reversal from being down 7.1% in 2020. The CAC recovered from bouts of panic selling on the back of the coronavirus pandemic. France’s stocks were the best performing in Europe. CAC40 For 2021 The CAC 40 Index closed at 7,153 on the final trading … Continue reading “France’s CAC 40 Bourse Lead Europe Higher in 2021 up 29% For the Year”
Commodities sold off across the board after the new Covid variant Omicron caused fear and uncertainty in Friday’s shortened session. Corn prices were in the red most of the day but turned green after better-than-expected export data from USDA took hold. Corn’s late-session rally helped prices jump more than 1% higher by the close, December futures added 6.5 cents to $5.8625, with March futures up 6.25 cents to $5.9175. Preliminary volume estimates were for 296,804 contracts, falling well below Wednesday’s … Continue reading “Corn Avoids Commodity Selloff After Strong USDA Export Data”
Supply chain disruptions continue to hamper Europe, diversified industrial companies with revenue crimped by semiconductor shortages and longer shipping times. Fitch Ratings sees this as a short term event with demand strong, and likely to continue
The European Union has postponed the next round of negotiations for a free trade agreement with Australia for a month. The move clearly is in retribution for the cancellation of the French $90 billion submarine contract.
The French Blue Chip stock index the CAC 40 closed the last day of the year down 0.9% to 5,565 and down 7.1% for 2020. The CAC recovered from the panic selling in March to a 4-year low on the back of the coronavirus pandemic and subsequent lockdowns. France’s stocks were well off the record highs seen in Germany and the US in 2020 but performed better than the UK and Spain.
Germany’s Angela Merkel and France’s Emmanuel Macron have propesed a €500 billion European coronavirus reconstruction plan. The aim is the recovery fund that should give grants, not loans to EU member states.
Eight West African countries have agreed to sever a common currency from France. The countries have agreed to change the exisating bloc currency to Eco from CFA Franc and sever currency ties to its old colonial master.
French manufacturing output fell back into contraction in July, overall France saw modest growth driven by the service sector with an expansion in business activity for the fourth month in a row.
The European services sector strength contrasts with weak manufacturing conditions. Growth was led by Germany and Spain. Suggesting that the domestic economies aren’t as burdened by the global trade war and Brexit drama. Resilient rate of growth that has lost some momentum.