Today :

 

PRICE ARE NOW FOR 2015 HARVEST

Euro /dollar: 1.0636

CRB index: 183.713 points

Crude oil: 42 $/barrel

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

Paris: Preopening

Wheat:  unchanged
Corn:  unchanged
Rapeseed: unchanged

Chicago: Preopening

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

European Market

Grain prices not suffered big changes yesterday. Bearish elements were not significant compared to euro decline. From a climatic point of view, conditions improved in Australia and USA due to a return of dry weather and in Black Sea as a result of beneficial rains.

On colza, prices rebounded in a heavy balance sheet context. In England,  The Agriculture and Horticulture Development Board displayed a decline of -14 % on colza surface compared to last year The board forecasted for the next campaign an unchanged wheat surface and a 4%  winter barley surface decline, compensate with and 10% rebound  .

Despite of the euro decline, French exports still insufficient implying 3 delivery silos to close temporarily. This context pushes up prices as it was the case of last September in the wheat front contract‘s prices. December contract is now in backwardation of -8 €/t compared to Mars 2016 contract.

On the international stage, Japan bought more than 110 000 t of milling wheat and Jordan had placed a public call of tender of 100 000 t of wheat and 100 000 t of barley.

 

 

 

 

Wheat, harvest 2015, quotes at 167 €/t  on a July basis for a quality 76/220/11, delivery Rouen.

Chicago wheat trades to an equivalent of  168 €/t  for December 2015 delivery.

Durum wheat, harvest 2015, trades between 280€/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 158 €/t  July basis for standard quality, delivery Rouen.

Malting barley, Sebastian variety, harvest 2015, quotes at 180 €/t July basis, FOB Creil.

Sunflower, harvest 2015, quotes at 410 €/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

 

Mostly unchanged prices at CBOT except wheat which stills pushed down, in a non competitiveness context of American wheat export and beneficial rains above USA. USDA displayed on Monday a improvement on wheat good to excellent crop rating at 52 %.

Funds were net sellers for 6 000 contracts of wheat and net buyers for 1 000 lots of corn and 3 000 lots of soybean.

The bases progressed a little yesterday caused by cooling temperature forecast in North US implying logistic problems.

Prices provided below are now for the 2015 harvest.

 

Corn December 2015, closed at 3.6200 $/bushel, + 2.00 cents from previous day.

Wheat December 2015, closed at 4.8750 $/bushel, - 6.50 cents from previous day.

Soybean November 2015 closed at 8.64 $/bushel  + 4.50 cents from previous day.

Soy meal December 2015, closed at 288.4 $/t, -0.30 $/t from previous day.

Soy oil December 2015, closed at 27.78 cents/lb, + 0.20 cents from previous day.

 

Black Sea market

 

 

 

Grivna, Ukrainian currency, depreciates gradually, at yesterday season grivna/dollar increase until  23 against 1 dollar. The 50 million dollars interventions done by the national bank was not enough to control the devaluation, Even if after  mid-April the national bank tried to establish the parity at 21-23 grivnas/dollar. This new devaluation is due to a precarious economic situation.

This currency risk is now getting better apprehended by producers. By the end of the week, prices on the domestic market will be revised upwards to regain their dollar equivalent of today.

Have a good day

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