Today :

 

PRICE ARE NOW FOR 2015 HARVEST

 

Euro /dollar: 1.087

CRB index: 172.1576 points

Crude oil: 35.81 $/barrel

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Paris: Preopening

Wheat:  unchanged
Corn:  unchanged
Rapeseed: unchanged

Chicago: Preopening

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

European Market

After a week of decline, markets rebounded last Friday, especially on rapeseed. Two main reasons for this rise on rapeseed, the test of support’s area with short covering and fears about lower production of soybean in Brazil due to water deficit in Mato Grosso.

Markets are still impacted by freefall of oil prices at a lowest level since 2004, to start the week.

In such context, financial markets are volatile and keep pressure on whole commodities.

Corn prices are still penalized by the 30 cases of avian flu in France. European Commission revised down its estimate for 2015’s corn output to 56.6 Mt vs 57.6 Mt last month.

For rapeseed, European Commission has displayed a production of 21.3 Mt, unchanged from last month and much lower than the 24.3 Mt of 2014. For wheat, no change with 149.15 Mt.

On the international stage, we can note the sale of 220 000 t of US soybean to unknown destination and the purchase of 232 000 t of corn by South Korea.

 

 

 

Wheat, harvest 2015, quotes at 162 €/t  on a July basis for a quality 76/220/11, delivery Rouen.

Chicago wheat trades to an equivalent of  165 €/t  for December 2015 delivery.

Durum wheat, harvest 2015, trades between 265 €/t nominal delivered Port La Nouvelle.

Rapeseed, harvest 2015, quotes at 374 €/t nominal FOB Moselle, November 2015 delivery.

Feed barley, harvest 2015, quotes at 155 €/t  July basis for standard quality, delivery Rouen.

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

Corn, 2015 harvest, trades at 158 €/t on a July 2015 basis, FOB Bordeaux, front contract

Sunflower, harvest 2015, quotes at 400/405 €/t nominal, October delivery, equivalent Saint-Nazaire.

 

 

 

 

American Market

On Friday, increase of soybean’s shortcovering as a consequence of fears ofBraziliancrop developments due to waterdeficit.  Several analysis forecast a Brazilian harvest of 97.9 Mt compared to 101 Mt last month.

Friday, funds were net buyers of 12 000 t of soybean and 4 000 t of wheat. They were neutral on corn.

Markets will become thinuntil the end of the year. American markets will be closedon 24th and 25thof December.

Prices provided below are now for the 2015 harvest.

 

Corn December 2015, closed at 3.7450 $/bushel, + 0.25 cents from previous day.

Wheat December 2015, closed at 4.8675 $/bushel, + 2.75 cents from previous day.

Soybean November 2015 closed at 8.9275 $/bushel  + 15.00  from previous day.

Soy meal December 2015, closed at 282.60 $/t, + 5.00 $/t from previous day.

Soy oil December 2015, closed at 30.79 cents/lb, + 0.48 cents from previous day.

 

 

Black Sea market

During last week, the export activity has shown high dynamism ahead of the end of year break. Russian weekly exports displayedat 515 000 t of wheat and Turkey has still been one of the main Russian’s destinations. Ukraine weekly exports amounted at 330 000 t of wheat.  The possible increase of South-Asian imports from Ukraine is confirmed.Last week, more than 150 000 t were shipped to Thailand, South Korea and Indonesia.

On barley, Russia managed to export 90 000 t. No exports from Ukraine.

On corn, the European production deficit has allowed Ukraine and Russia to export 350 000 t and 100 000 t respectively.

 

Have a good day

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