FX Monthly movement
- US$/£ 1.30 up from 1.29
- US$/ € 1.17 changed from 1.13
- £/ € 1.11 changed from 1.13
The period has been dominated by US dollar weakness as the political turmoil, and lack of progress continues in America. Combined with generally good economic data emerging from the Eurozone it has resulted in the Euro rallying significantly against the Dollar. Sterling has also done well despite lacklustre news against the dollar, but slipped slightly verses the Euro.
In the UK with Parliament in recess and mixed data we would anticipate US Dollar weakness being the primary driver over the coming month, along with positive Eurozone news, led by the improving economies of France and Spain. Next week inflation data is expected to be within target, further fuelling the Euro’s position.
Challenges surround seed supplies at present, as customers focusing on potential contaminants and natural levels of constituents start to find issues. We are facing challenges on several residual levels of items that, whilst at almost insignificant levels, are getting caught by MRL default levels set by the EU. This is inevitably going to add cost and complexity to the various supply chains in coming months.
In this report:
- Pumpkinseed kernels
- Sunflower seed kernels
- Sesame seed
- Hulled millet
- Poppy seed
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