1- Market analyzes (oil, ethanol, oil)
The financial markets evolved without direction while managing to contain the fall inherent in concerns in Libya where the bloody repression carried out by Kadhafi and her henchmen already made more than one thousand of deaths. The flight of the courses of oil during the meeting started again concerns concerning an acceleration of inflation. On this subject, the imminence of an increase of the directing rates of the ECB gives an interesting support to the Euro which passes by again above 1.38 vis-a-vis the dollar.
Oil market: MEETING MOUVEMENTEE
Yesterday, the day was marked by very strong variations of course in intra-meeting. Brent and the crude even recorded higher histories going back respectively to the values of August 2008 and September 2008. The markets ignited because the Libyan political crisis led to a reduction from at least 25% of exports of this country. Threats on the extraction also plane. Moreover, the markets are led by the fear which this instability reaches Saudi Arabia, the largest world exporter. Brent thus reached 119.79$ during the meeting and the crude 103.41. Yesterday, the third larger volume of contracts treated since 2011 was recorded. Following these big rises, the catches of profit indeed were important, which explains why with closing, the differences in course compared to the day before were not important to know +11 hundreds for brent and -82 hundreds for the crude. This fold made following the announcement the USA, Saudi Arabia and IEA to maintain the offer world by compensating for the Libyan losses.
After closing, the electronic markets recorded falls of about 2$ on these two products following the rumor circulating that Khadafi had been cut down.
Market of ethanol: LACK OF VISIBILITY
After the USDA gave yesterday its first estimates of wheat acreage of spring to the USA which come to confirm those done on the markets. The USDA envisages 92 million acres out of corn and 78 million acres in soya against respectively 88.2 and 77.7 million acres last year. Although the market of ethanol is marked by elements bulls like the rebound of the oil prices or the consolidation of the price of sugar, the courses do not mark change. The course remains unchanged in Brazil whereas they progress slightly on the CBOT to enclose with 2,486$/gallon. The interest of ethanol vis-a-vis the oil products however increased these last days, but the operators expecting the final decisions of the US government, on its energy policy, to replace itself.
Market of oils: LOSS OF COMPETITIVENESS OF THE PALM
Whereas the oil markets as lately as yesterday recorded a rise from almost 5% on the crude as on brent, the palm oil finished below 159 ringgit/T with height of 3578 ringgit/T. That value has constituted low for three months on bottom of concerns of a deceleration of economic recovery related to the Libyan political crisis. The withdrawal of the speculators was thus still observed yesterday on these markets. The palm oil loses in competitiveness compared to the soya oil which will be marked by a good harvest in South America this year. Thus, the markets defer their purchases on the soya oil on an expiry a little more remote. The demand for palm oil would thus weaken. A Malaysian refiner would have even sold 100.000T below market price to attract the request. The soya oil goes well and takes 2% on the CBOT to enclose to 55.02 hundreds/delivers.
Weakened for one euro in progression vis-a-vis the US dollar, oils of colza and sunflower recorded a fall even if the tendency were reversed in after midday in the wake of the movements of recovery in Chicago on the agricultural raw materials.
2- Analyses of the margins of trituration
DISPARITIES
Even if the fence of yesterday highlighted weak variations daily on the agricultural raw materials, it is necessary to be wary of the water which sleeps… Thus, volatility in intraday was important and the pressure saleswoman of financial remains. It is clear that the flight of the courses of oil in the course of day worried the operators. The joint announcement of the USA and Saudi Arabia ensuring that the world offer out of hydrocarbons would not suffer from the disorders in Libya made fall down the anxiety.
The oleaginous complexes saw the fundamental ones reconsidering the front of the scene. Indeed, the retreat of complex soya is upwards explained by the revision harvest in Argentina with 48.8 MT against 47,0Mt envisaged hitherto. Moreover, certain experts consider volumes able to reach the 50 MT. In same time, the Chinese slowed down their soya bean imports which finish on a level of 3.2 MT over February. Moreover, oil suffered from the retreat of its Malaysian colleague put under pressure by a significant decrease of exports over the first 25 days of February (- 8.2 to 0.97 MT). The seed keeps the leadership and the margins are folded up and passed under the 20$/t.
In Europe, complex colza held good the course and the firmness of oil benefitted the industrialists who saw their margin filling out again.
The financial markets evolved without direction while managing to contain the fall inherent in concerns in Libya where the bloody repression carried out by Kadhafi and her henchmen already made more than one thousand of deaths. The flight of the courses of oil during the meeting started again concerns concerning an acceleration of inflation. On this subject, the imminence of an increase of the directing rates of the ECB gives an interesting support to the Euro which passes by again above 1.38 vis-a-vis the dollar.
Oil market: MEETING MOUVEMENTEE
Yesterday, the day was marked by very strong variations of course in intra-meeting. Brent and the crude even recorded higher histories going back respectively to the values of August 2008 and September 2008. The markets ignited because the Libyan political crisis led to a reduction from at least 25% of exports of this country. Threats on the extraction also plane. Moreover, the markets are led by the fear which this instability reaches Saudi Arabia, the largest world exporter. Brent thus reached 119.79$ during the meeting and the crude 103.41. Yesterday, the third larger volume of contracts treated since 2011 was recorded. Following these big rises, the catches of profit indeed were important, which explains why with closing, the differences in course compared to the day before were not important to know +11 hundreds for brent and -82 hundreds for the crude. This fold made following the announcement the USA, Saudi Arabia and IEA to maintain the offer world by compensating for the Libyan losses.
After closing, the electronic markets recorded falls of about 2$ on these two products following the rumor circulating that Khadafi had been cut down.
Market of ethanol: LACK OF VISIBILITY
After the USDA gave yesterday its first estimates of wheat acreage of spring to the USA which come to confirm those done on the markets. The USDA envisages 92 million acres out of corn and 78 million acres in soya against respectively 88.2 and 77.7 million acres last year. Although the market of ethanol is marked by elements bulls like the rebound of the oil prices or the consolidation of the price of sugar, the courses do not mark change. The course remains unchanged in Brazil whereas they progress slightly on the CBOT to enclose with 2,486$/gallon. The interest of ethanol vis-a-vis the oil products however increased these last days, but the operators expecting the final decisions of the US government, on its energy policy, to replace itself.
Market of oils: LOSS OF COMPETITIVENESS OF THE PALM
Whereas the oil markets as lately as yesterday recorded a rise from almost 5% on the crude as on brent, the palm oil finished below 159 ringgit/T with height of 3578 ringgit/T. That value has constituted low for three months on bottom of concerns of a deceleration of economic recovery related to the Libyan political crisis. The withdrawal of the speculators was thus still observed yesterday on these markets. The palm oil loses in competitiveness compared to the soya oil which will be marked by a good harvest in South America this year. Thus, the markets defer their purchases on the soya oil on an expiry a little more remote. The demand for palm oil would thus weaken. A Malaysian refiner would have even sold 100.000T below market price to attract the request. The soya oil goes well and takes 2% on the CBOT to enclose to 55.02 hundreds/delivers.
Weakened for one euro in progression vis-a-vis the US dollar, oils of colza and sunflower recorded a fall even if the tendency were reversed in after midday in the wake of the movements of recovery in Chicago on the agricultural raw materials.
2- Analyses of the margins of trituration
DISPARITIES
Even if the fence of yesterday highlighted weak variations daily on the agricultural raw materials, it is necessary to be wary of the water which sleeps… Thus, volatility in intraday was important and the pressure saleswoman of financial remains. It is clear that the flight of the courses of oil in the course of day worried the operators. The joint announcement of the USA and Saudi Arabia ensuring that the world offer out of hydrocarbons would not suffer from the disorders in Libya made fall down the anxiety.
The oleaginous complexes saw the fundamental ones reconsidering the front of the scene. Indeed, the retreat of complex soya is upwards explained by the revision harvest in Argentina with 48.8 MT against 47,0Mt envisaged hitherto. Moreover, certain experts consider volumes able to reach the 50 MT. In same time, the Chinese slowed down their soya bean imports which finish on a level of 3.2 MT over February. Moreover, oil suffered from the retreat of its Malaysian colleague put under pressure by a significant decrease of exports over the first 25 days of February (- 8.2 to 0.97 MT). The seed keeps the leadership and the margins are folded up and passed under the 20$/t.
In Europe, complex colza held good the course and the firmness of oil benefitted the industrialists who saw their margin filling out again.
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