Andrey Sizov
21.01.2025
U.S. markets were closed on Monday for Martin Luther King Jr. Day. The March Euronext wheat contract closed at €226.50/mt ($236/mt; -0.1%).
The U.S. Dollar Index (DXY) opened Tuesday with a sharp decline. At the start of trading, DXY was at 108.0 (-1.3% compared to Friday). The U.S. dollar weakened following the Trump administration’s decision not to impose strict tariffs on the first day after the president’s inauguration.
President Donald Trump did not impose tariffs on his first day in office but indicated the possibility of introducing 25% tariffs on goods from Mexico and China starting February 1.
Expected weekend rains in Argentina were weak and failed to offset the country’s moisture deficit, Bloomberg reported, citing Rosario Exchange analyst Cristian Russo.
Egypt’s strategic wheat reserves are sufficient to cover four months of consumption, the Egyptian government announced.
