Today :

 

PRICE ARE NOW FOR 2015 HARVEST

Euro /dollar: 1.093

CRB index: 183.3043 points

Crude oil: 41.28 $/barrel

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

Paris: Preopening

Wheat:  +1 €
Corn:  +1 €
Rapeseed: +1 €

Chicago: Preopening

Wheat:  + 2 cents
Corn:   unchanged
Soybean:  - 1  cents

European Market

Traders have been disappointed by the measures taken by the ECB and provoked a surge of the euro vs dollar. The central bank has reduced the deposit rate by 10 basis points from -0.20% to -0.30%, but operators were expecting something more. Furthermore, even if the quantitative easing has been extended until March 2017, monthly amounts have been unchanged while market was awaiting for some increase. In this context the euro jumped from 1.0560 to 1.0930 against dollar.

The other major event yesterday, was the high level of wheat export certificates granted by Brussels with 1.040 Mt, including 478 113 t for France. It takes the total from the start of the season to 9.764 Mt. This number reflects the high level of competitiveness of European origins with the decline of the euro.

For corn, import certificates reached 310 659 t taking the campaign’s total to 4.7 Mt.

On the international stage, we noticed the sale of 132 000 t of soybean, US origin, to China and the purchase by Japan of 15 626 t of US and Canadian milling wheat.

Rapeseed is still showing resistance to bearish pressure despite the rise of the euro in a context of upward trend for oil complex, especially on palm bouncing back on fears about lower production due to the highest El Nino’s pattern ever registered.

 

 

 

Wheat, harvest 2015, quotes at 168 €/t  on a July basis for a quality 76/220/11, delivery Rouen.

Chicago wheat trades to an equivalent of  164.90 €/t  for December 2015 delivery.

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

Rapeseed, harvest 2015, quotes at 388 €/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

Yesterday American markets rebounded due to dollar decline, giving the opportunity to the traders to cover their short positions on all products.

The monetary events overcasts weekly export figures below expectations. Wheat export were displayed at 392 200 t, soybean at 878 300 t and 499 400 t for corn.

Yesterday, fund were net buyers of 7 000 lots of corn, 6 000 lots of soybean and 9 000 lots of wheat.

Prices provided below are now for the 2015 harvest.

 

Corn December 2015, closed at 3.77 $/bushel, + 6.75  cents from previous day.

Wheat December 2015, closed at 4.7875 $/bushel, + 11.50 cents from previous day.

Soybean November 2015 closed at 9.0025 $/bushel  + 5.25 cents from previous day.

Soy meal December 2015, closed at 289.40 $/t, + 0.50 $/t from previous day.

Soy oil December 2015, closed at 31.10 cents/lb, + 0.29 cents from previous day.

 

 

Black Sea market

Climatic conditions are still  favorablearound Black Sea basin. Indeed, the maximal temperatures should stay near + 10 ºC near the coast during the next 10 days, allowing wheat to germinate and improve developmentconditions. In Ukraine, the acreage declinedby 20 % compared to last year. Furthermore, 20 % have not germinated yet, and are potentially lost.

For last days,Agritel(‘s consultantsvisited a large part of Ukraine and especially damaged zones.  For confidential conclusions, please subscribe to EAT2016.

 

Have a good day

AGRITEL

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