Today :

 

PRICE ARE NOW FOR 2015 HARVEST

Euro /dollar: 1.0667

CRB index: 185.2654 points

Crude oil: 42.8 $/barrel

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

Paris: Preopening

Wheat:  -1 to -2 €/t
Corn:  unchanged
Rapeseed: unchanged

Chicago: Preopening

Wheat: + 2 cent
Corn:  unchanged
Soybean:  unchanged

European Market

Following an improvement in US crop rating, wheat prices were in decline yesterday in Chicago.

Macri’s victory at Argentinian elections is still at the center of traders’ discussions. Thus, if new president keeps his promises and reduces drastically export taxes, Argentina could be back on international stage as a major exporter, especially on wheat.

Egypt is taking advantage of wheat prices drop to set a new tender today, for shipment Dec.21-31. Competition should stay fierce with Russian origins. Jordan has, once again, cancelled his tender in 100 000 t of wheat.

If weather conditions are improving in USA, that’s not the case in India where El Nino is provoking a water deficit and an increase of temperatures, generating lower acreage of wheat and rapeseed. Next year, India could be net importer of wheat.

Rapeseed prices were in progress yesterday in a context of stretched supplies despite of persisting cheap palm prices.

 

 

 

Wheat, harvest 2015, quotes at 171 €/t  on a July basis for a quality 76/220/11, delivery Rouen.

Chicago wheat trades to an equivalent of  167 €/t  for December 2015 delivery.

Durum wheat, harvest 2015, trades between 280€/t nominal delivered Port La Nouvelle.

Rapeseed, harvest 2015, quotes at 380 €/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 415 €/t nominal, October delivery, equivalent Saint-Nazaire.

Corn, 2014 harvest, trades at 162 €/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 wheat prices declined after USDA crop rating displayed an improvement of 1 point compared to last week, 53% as good to excellent. However this percentage is still under last year figures at 58%.

Operators were cautious yesterday, a day before Thanksgiving with markets to be closed tomorrow and to reopen during half a session on Friday.

Funds were net sellers yesterday of 8 000 lots of corn and 7 000 lots of wheat. They were neutral for soybean.

Commodity markets are still heavy, but if geopolitical tensions are increasingsome traders could reduce their short positions.

Prices provided below are now for the 2015 harvest.

 

Corn December 2015, closed at 3.6425 $/bushel, - 3.00 cents from previous day.

Wheat December 2015, closed at 4.8425 $/bushel, - 10.75 cents from previous day.

Soybean November 2015 closed at 8.6375 $/bushel  - 0.50 cents from previous day.

Soy meal December 2015, closed at 283.9 $/t, - 2.00 $/t from previous day.

Soy oil December 2015, closed at 28.59 cents/lb, - 0.40 cents from previous day.

 

 

Black Sea market

 

 

 

 

 

Morning frosts are backsince the beginning of the week in Ukraine and Central District of Russia. Little by little, this weather condition will extendin many regions except next to the coast. After the Central District, first snow falls are now expected for the weekend on a large portion of central Ukraine.

Cold weather has appeared with a delay this year, which has allowedcrop conditions to improve. The transition towards dormancy will be progressive, and will leave uncertainty for a while.

Have a good day

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