DJE - Agrar & Ernährung I (EUR)

DJE - Agrar & Ernährung I (EUR) Header Image
Minimum investment: 75,000 EUR
ISIN:
LU0350836184
As at:
16/07/2019
Bid:
185.72 EUR
Offer:
185.72 EUR

Monthly Commentary

Grain prices had been firmer before the U.S. Department of Agriculture's crop report was published but its publication at the end of June caused a notable correction in the rally. Against expectations US corn acreage declined less than feared this year. Therefore harvest forecasts are now dependent on further weather conditions. The current crop forecasts could ultimately prove too optimistic due to the late sowing, as the risk of possible frost damage in North America has increased significantly during autumn. Correspondingly grain prices should be able to maintain their current level. Sugar prices, on the other hand, have recently tended higher in Europe allowing the shares of local producers to recover somewhat from their lows. The main reasons for this were announced capacity cuts reduced acreage and a relatively low level of sugar inventories throughout Europe. In June the food sector - like the majority of all sectors - also benefited from renewed interest rate cut fantasies.

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