Today :

 

PRICE ARE NOW FOR 2015 HARVEST

Euro /dollar: 1.0613

CRB index: 184.3933 points

Crude oil: 41.6 $/barrel

     Training : Futures markets and options : New ! The 14/15 of January 2016 in Paris(in English)

Paris: Preopening

Wheat:  unchanged
Corn:  unchanged
Rapeseed: + 1 €

Chicago: Preopening

Wheat:  unchanged
Corn:   unchanged
Soybean:  + 2  cents

European Market

Markets were in little evolution yesterday, falling in sort of lethargy. Climatic conditions are not changing on Northern hemisphere and are still considered as satisfying for winter crops. The only exception is Ukraine where hydric stress of last few months will impact wheat and rapeseed potential in 2016.

On the international stage, we can note Jordan’s wheat purchase in 100 000 t, optional origin. Quality requirements with delivery specifications are limiting propositions toward this destination for exporters.

In Australia, wheat harvest is about to end and the government has revised down its output’s estimate to 23.98 Mt vs 25.28 Mt previously anticipated.

Rapeseed prices are having some support from soybean steadiness and strong demand on physical market. Furthermore, canola in Canada rose yesterday despite of possible upward revision of production from Statcan on Friday. Market consensus is about 15.6 Mt vs 14.3 Mt seen last month.

Operators will pay attention to ECB’s meeting tomorrow with expectations of new support measures to European economy with improved credit conditions.

 

 

 

Wheat, harvest 2015, quotes at 170 €/t  on a July basis for a quality 76/220/11, delivery Rouen.

Chicago wheat trades to an equivalent of  163.50 €/t  for December 2015 delivery.

Durum wheat, harvest 2015, trades between 275 €/t nominal delivered Port La Nouvelle.

Rapeseed, harvest 2015, quotes at 386 €/t nominal FOB Moselle, November 2015 delivery.

Feed barley, harvest 2015, quotes at 160 €/t  July basis for standard quality, delivery Rouen.

Malting barley, Sebastian variety, harvest 2015, quotes at 181 €/t July basis, FOB Creil.

Sunflower, harvest 2015, quotes at 415 €/t nominal, October delivery, equivalent Saint-Nazaire.

Corn, 2014 harvest, trades at 160 €/t on a July 2015 basis, FOB Bordeaux

The feeding pea market trades at 210 €/t nominal, August 2015 basis, FOB Creil

 

 

American Market

 

New decline of wheat prices on CBOT, in a context of improvement of crop conditions rated “good to excellent” at 55% vs 53% one week ago. American wheat is still uncompetitive on international market, especially due to too high level of the dollar.

Soybean is still boosted by good level of demand on export markets and persisting upward trend of oil complex, contrasting with decline of soymeal.

Yesterday, funds were net buyers of 3 000 lots of corn and 6 000 lots of soybean. They were net sellers of 4 000 lots of wheat.

Prices provided below are now for the 2015 harvest.

 

Corn December 2015, closed at 3.7375 $/bushel, + 1.50  cents from previous day.

Wheat December 2015, closed at 4.7150 $/bushel, - 4 cents from previous day.

Soybean November 2015 closed at 8.9150 $/bushel  + 8.25 cents from previous day.

Soy meal December 2015, closed at 288.60 $/t, + 1.10 $/t from previous day.

Soy oil December 2015, closed at 30.34 cents/lb, + 0.67 cents from previous day.

 

 

Black Sea market

 

 

 

Last Saturday, Russian Prime Minister announced several measures against Turkey without any mention about cereal exports to this country. Turkey still have the ability to buy Russian wheat.

During last season, Turkey imported 4.2 Mt of wheat and 1.4 Mt of corn. Since the start of the campaign, wheat and corn exports to Turkey amounted to respectively 1.6 Mt and 0.3 Mt. Russian operators hope to ship another 1.2 Mt of wheat and 0.2 Mt of corn to this country. In case of further sanctions, Ukraine is ready to strengthen its relations with Turkey.

 

Have a good day

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