Deutsche Bank AG, Europe’s biggest bank in terms of assets, has recently published a quarterly report for Q4 2012. The report turned much more disappointing - minus €2,7bn (y/y). Analysts have expected €311 million in losses.
After the U.S. Energy Information Administration (EIA) published another weekly report on US crude stocks, oil prices suspended the rally.
It looks like the US export of corn stopped growing after the USDA’s latest report. The report that was published on Tuesday showed 10.96 million bushels of corn (ready for export) against 9.65 million bushels a week ago and 36.48 million bushels a year ago. The new export report is scheduled for Friday. Experts anticipate 250-450 thousand tons.
The central and southern parts of Brazil promise to gather a more-than-expected harvest of sugarcane. Sugarcane is used to produce sugar and ethanol. This season’s harvest is estimated at 590 million metric tons. This is 10 million tons more than the previous harvest. The quality of produced ethanol is expected to improve at the expense of better quality of sugarcane.
Since the beginning of current trading week wheat quotations have been showing unsteady fluctuations at world stock exchanges. January 29 has been no exception, even though it has been characterized by drastic changes at American and European stock exchanges.
American quotations have dropped, whereas European ones have increased within fractions of percent. Namely, wheat has increased by 0.3 percent at London exchange, and by 0.1 percent at Parisian. Drop of wheat quotations in US has amounted to 0.4 percent, soy has added 0.7 percent, and corn has remained almost unchanged.