Today :

 

PRICE ARE NOW FOR 2015 HARVEST

Euro /dollar: 1.1017

CRB index: 174.2633 points

Crude oil: 36.26 $/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 to -1 €
Rapeseed: unchanged to -1 €

Chicago: Preopening

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

European Market

Markets are still depressed in a context of freefall of oil prices and raw material. Operators are now focus on Fed’s meeting where US interest rates could be increased for the first time since 2006.

Argentinian’s government has, as expected, decided to abolish export taxes for wheat and corn of respectively 23% and 20%. Export taxes for soybean will be cut by 5% to 30%, while soy oil and soymeal will be of 27% instead of 32%. It will add competitiveness to Argentinian products on international markets.

Yesterday, Jordan has bought 25 000 t of wheat, hard quality, and Taiwan 87 000 t of US wheat. In its las week tender, it’s finally about 800 000 t of wheat that Algeria would have bought, much more than initially announced. Rumors about 3 Argentinian boats were circulating as sourcing beyond French supplies.

Swing of rapeseed prices yesterday, after a bearish opening following crude oil, market ended in positive territory.

 

 

 

Wheat, harvest 2015, quotes at 161 €/t  on a July basis for a quality 76/220/11, delivery Rouen.

Chicago wheat trades to an equivalent of  165.10 €/t  for December 2015 delivery.

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

Rapeseed, harvest 2015, quotes at 378 €/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 410 €/t nominal, October delivery, equivalent Saint-Nazaire.

 

 

American Market

Yesterday slight rebound in Chicago mainly due to technical considerations. Indeed, the high level of short positions in wheat of 60 000 lots and infrequent short positions in corn and soybean have pushed operators to s buy back their contracts before the end of the year.

Fundamentals are highly sluggish.

Yesterday, funds were net buyers of 6 000 lots of corn, 4 000 lots of soybean and 2 000 lots of wheat.

However, this technical rebound was limited. Operators are fearing about the increase of Argentinian competiveness.

Prices provided below are now for the 2015 harvest.

 

Corn December 2015, closed at 3.79 $/bushel, + 3.75 cents from previous day.

Wheat December 2015, closed at 4.9350$/bushel, + 3.00 cents from previous day.

Soybean November 2015 closed at 8.76  $/bushel  + 2.25  from previous day.

Soy meal December 2015, closed at 277.60 $/t, + 2.10 $/t from previous day.

Soy oil December 2015, closed at 31.37 cents/lb, - 0.23 cents from previous day.

 

 

Black Sea market

Whereas winter has not really hit the Black Sea area, the Ukrainian authorities continue to monitor closely winter crops development. 

Among the 6.75 Mha of cereals planted, the Agricultural Ministry displayed 86 % germinated, so 0.95 Mha not emerged. The most critical area is Oblast ofDniepropetrovsk, Poltava and Kharkiv. 67% of the germinated acreage is in good conditions and 33 % in bad conditions. A total loss of 80 000 ha had been stated and it should increase in the future.

Indeed, as an example, authorities reported only 2500 ha of rapeseed affected whileour crop tour displayed higher damages.

 

Have a good day

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