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Newsletter Friday 29 May 2009 - AGRITEL – 29.05.2009EUROPEAN MARKET
Starting next week, every monday, you will find the prices of the nitrogen solutions for a Rouen departure basis, ammonitrates 27% & 33.5% ex-work + urea compared to the previous week in the Agritelhebdo (our weekly published newsletter for the clients). The markets were nervous again yesterday with a lot of covering purchases in Chicago for wheat especially. Indeed for this cereal, fears about spring plantings are becoming stronger and stronger. Moreover, US agronomists are reporting from an important sanitarian pressure on winter wheats due to heavy rains. Funds are going on buying scared by inflation potential increase and with the crude oil boosting over 65 $/barrel. The crude was supported by the drop of the US stocks on a weekly basis. In the world, Irak is buying 50 000T of wheat. Brussels provided yesterday export licenses for 323 000T of wheat among them 146 000T from Germany, 93 000T from the Netherlands and 48 000T for France. All together, the exportations of the EU are reaching a 20 MT level VS 8.2 MT last year at this period. The dry balticc index scored a new highest level for the last 8 months at 3298 points, which is a signal of a recovery in the economical activity. This is the consequence of an ioncrease of global exchanges mostly steel products on their way to China. In terms of world balances, corn is still facing the tigher for the 2010 forecasts with a possible revision (minoring) of the USDA datas from last month. The wheat, harvest 2009, closed the day higher at 152.00 €/T for a delivery during the harvest, on a july basis, in Rouen. AMERICAIN MARKET
A significant increase took place on the wheat market in Chicago despite profit taking operation at the end of the session. Difficulties faced by the farmers during the spring wheat plantings are underpinning the prices. Delays in corn plantings could go on with new rains expected for the week end. For corn, we consider that the balance is still overestimated by the USDA and a revision of the publication is expected for the press release of the 10th of june. Corn, on a september 2009 deadline, closed higher friday at 4.39 USD/bushel, ie +2.75 cents VS previous day.
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Announcements
23.02.2012
Workshop: “Accessing the EU Biofuels Market: How to Meet the EU Sustainability Criteria for Biomass”
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16.02.2012
III. International conference "Commercial Horticulture in Ukraine",
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07.02.2012
III. Dutch-Ukrainian Agribusiness Forum: Potato Production in Ukraine: Growing, harvesting, storage and handling
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