Today :

 

PRICE ARE NOW FOR 2015 HARVEST

Euro /dollar: 1.0908

CRB index: 177.3932 points

Crude oil: 38.26 $/barrel

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

Paris: Preopening

Wheat:  unchanged to +1 €
Corn:  unchanged
Rapeseed: unchanged to +1 €

Chicago: Preopening

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

European Market

The reopening of storage facilities in Rouen and Dunkirk due to busy shipment perspective especially towards unusual destinations like Indonesia and Mexico or more traditional as Morocco or Algeria have not been enough to stop the bearish trend of the market. Algeria launched a new wheat tender for February/March shipping.

Beyond decline of prices in Black Sea area, European cereals are suffering of the strength of the euro vs dollar over 1.09 this morning.

In the background, the sluggishness of raw material is largely contributing to worsen the picture. Yesterday, the CRB index dropped under 177 points for the first time since 2003. Crude oil fell down until 36.63 $/b in NY, not far from lowest levels registered in 2008-09, during financial crisis. Despite of ample supplies, prices rebounded due to bargain buying. Russian rubble is especially affected by rout of oil prices and is touching lowest levels vs dollar since last winter, triggering export taxes on local wheat.

Traders are now expecting USDA’s report tonight, at 6 pm Paris time. World balance sheets should not be too much impacted.

 

 

 

Wheat, harvest 2015, quotes at 163 €/t  on a July basis for a quality 76/220/11, delivery Rouen.

Chicago wheat trades to an equivalent of  162.68 €/t  for December 2015 delivery.

Durum wheat, harvest 2015, trades between 270 €/t nominal delivered Port La Nouvelle.

Rapeseed, harvest 2015, quotes at 383 €/t nominal FOB Moselle, November 2015 delivery.

Feed barley, harvest 2015, quotes at 154€/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, positions have been adjusted in Chicago,ahead of USDA’s report. Operators are expecting small stocks evolution,still ample for wheat, corn and soybean.

Yesterday, funds were net buyers of 1 000 lots of corn allowing prices to slightly rise after the decline of the day before. On soybean, after several buying sessions since the 20th of November, funds took some profits in grain and were net sellersfrom last Monday, yesterday they sold 6 000 contracts.

In respect with US wheat, prices are in bearish trend due to European and Black Sea competitiveness and good weather conditions in USA. Yesterday,funds were net sellers of 1 000 lots of wheat.

Prices provided below are now for the 2015 harvest.

 

Corn December 2015, closed at 3.7350 $/bushel, + 0.50  cents from previous day.

Wheat December 2015, closed at 4.8150 $/bushel, - 1.25 cents from previous day.

Soybean November 2015 closed at 8.7975 $/bushel  - 6.00 cents from previous day.

Soy meal December 2015, closed at 277.2 $/t, -2.7 $/t from previous day.

Soy oil December 2015, closed at 31.69 cents/lb, + 0.23 cents from previous day.

 

 

Black Sea market

During two last weeks, milling wheat prices in Russia have declined by 5 % in CPT-port basis. This drop is due to global price decline, fears about exports to Turkeyand an increase in supply due to weak storage capacitiesof growers.

Producersare fearing season export’s decline,mainlydue to climatic reasons, especially in AzovSea ports which deal witha largepart of shipment. This could add some pressure on prices.

 

Have a good day

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