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Morning Update: Hello November

1 min read

    Today marks the first day of November and most of Europe celebrates this day. In Spain it's called "Dia de Todos los Santos", in France "Toussaint", in Poland "Wszystkich Świętych" and in Holland, it is just a day of work. So we will be available for all the Dutch companies and those in the countries that just can't let go of the dairy market. 

    Today is also the first day we are live with our Get Fair Dairy Market Place. Those who were early with their subscription are now allowed to place bids and offers themselves. If anybody needs help setting up the first bid or offer, we are happy to help out! And for those who did not subscribe yet, you are welcome to subscribe for free via www. getfairdairy.nl/register. The first bids and offers are placed yesterday evening and we hope to see many more in the days and months to come.

    Another big event today is the GDT this afternoon. We have taken a brief look at the future markets and they seem to suggest a correction down. But SGX futures have been a relatively bad indication of the previous events, so we will just listen to what the markets have to tell us. And with sharp offers from Europe in SE-Asia we expect the GDT this afternoon to move down again. The biggest drop we expect to see on SMP and WMP, but we expect to see correction across all commodities. It seems too soon to think that China will be back at the table for big quantities.

    GDT days are usually quiet days and with most of Europe with a bank holiday, we don't expect too much excitement from the dairy markets today. For those who are out, we wish you a good day, for those in the office, we wish you happy trading.

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