Pre-opening 22/01/2021
Paris Chicago
Wheat- 1 €- 7 cents
Corn- 1 €- 7 cents
Rapeseed- 1 €/t to - 2 €/t
Soybean- 23 cents
Indexes 21/01/2021
€/$1.2158 $
Oil WTI53.13 $/b

Wheat (€/t)
Mar 21231.75-4.25
May 21227.25-4.75
Sep 21197.75-3.25
Dec 21198.00-3.25
Mar 22198.25-2.75
Corn (€/t)
Mar 21213.75-2.00
Jun 21211.00-2.00
Aug 21208.25-2.25
Nov 21186.50-1.25
Jan 22188.50+1.75
Rapeseed (€/t)
Feb 21433.75-1.75
May 21426.25-2.25
Aug 21400.00-3.00
Nov 21399.50-2.75
Feb 22399.00-3.00

21/01/2021

Wheat (€/t) : 6749 lots
LotsTypeStrike
30Call Mar 21226.00
200Call Mar 21240.00
300Call May 21229.00
50Call May 21235.00
300Call May 21238.00
353Call Sep 21200.00
500Call Sep 21210.00
1000Call Sep 21220.00
500Call Sep 21225.00
850Call Sep 21230.00
20Call Dec 21199.00
1Call Dec 21202.00
20Call Dec 21214.00
100Call Dec 21220.00
301Call Dec 21225.00
1Call Dec 21250.00
200Put Mar 21230.00
10Put Mar 21234.00
300Put May 21214.00
20Put May 21225.00
500Put Sep 21180.00
350Put Sep 21185.00
400Put Dec 21175.00
20Put Dec 21180.00
20Put Dec 21193.00
300Put Dec 21195.00
103Put Dec 21198.00
Corn (€/t) : 400 lots
LotsTypeStrike
100Call Jun 21195.00
100Call Jun 21200.00
100Call Nov 21187.00
100Call Nov 21197.00
Rapeseed (€/t) : 599 lots
LotsTypeStrike
100Call May 21380.00
4Call May 21387.50
1Call May 21425.00
52Call May 21430.00
40Put May 21400.00
250Put May 21415.00
1Put May 21425.00
100Put Aug 21390.00
50Put Nov 21392.50
1Put Nov 21400.00

Wheat (¢/b)
Mar 21660.7500-15.5000
May 21662.2500-15.2500
Jul 21647.7500-15.0000
Sep 21648.2500-15.2500
Dec 21653.7500-15.2500
Corn (¢/b)
Mar 21524.2500-6.2500
May 21526.2500-6.0000
Jul 21522.2500-6.0000
Sep 21472.7500-7.2500
Dec 21448.7500-6.2500
Soybean (¢/b)
Mar 211370.2500-21.0000
May 211368.7500-20.7500
Jul 211354.5000-22.5000
Aug 211310.5000-22.7500
Sep 211218.2500-22.7500
Soy meal ($/st)
Mar 21438.2000-6.3000
May 21435.3000-6.7000
Jul 21431.9000-7.1000
Aug 21419.0000-6.6000
Sep 21400.5000-6.8000
Soy oil (¢/lb)
Mar 2143.4300-0.5100
May 2142.7500-0.4900
Jul 2142.1500-0.4900
Aug 2141.1900-0.4400
Sep 2140.2400-0.4600

22/01/2021

Physical (€/t)
Durum wheat delivered La Pallice Spot - July 2020 basis275.00+0.00
Wheat delivered Rouen - July 2020 basis230.00-2.00
Corn delivered Bordeaux Spot - July 2020 basis215.00-1.00
Corn FOB Rhin Spot - July 2020 basis225.00+0.00
Feed barley delivered Rouen - July 2020 basis215.00+0.00
Malting barley FOB Creil Spot - July 2020 basis214.00+0.00
Rapessed FOB Moselle Spot - Flat - 2020 harvest436.00+4.00
Standard sunseed delivered St Nazaire Spot - Flat - 2020 harvest525.00+0.00
Feed peas FOB Creil Spot - August 2020 basis260.00-3.00
Analysis 22/01/2021

European market

Markets were hesitant yesterday. If fundamentals remain tight, the dynamism of the demand is questioned again by the expansion of coronavirus cases in the world. Another element in the price structure is of course the Chinese demand. The latter was at the origin of the recent surge in prices to meet a double objective, i.e. to rebuild stocks and meet the demand of farmers who have replenished their pig herds. However, a new case of swine fever has just been discovered in China, raising doubts about the future situation.

On the international market we can note the sales of 336 500 t of corn to undisclosed destination, 136 000 t of soybean to China and 163 290 t of corn to Mexico. Saudi Arabia is seeking 480 000 t of feed barley, optional origins, for March-April shipment.

Climatic conditions are improving in South America thanks to beneficial rains especially in Argentina where soybean and corn plantings are ending. In the Black Sea basin, temperatures are increasing after the recent cold snap. In this region, producers are not too much worried regarding growing conditions.

Palm prices are highly volatile. This product is puzzled between fears about production due to flooding in Malaysia on one side and lower exports on the other side. Irregularity is also perceptible in rapeseed, pushing to some cautiousness in the oilseed prices’ risk management.

The Dollar is retreating slightly this morning at 1.2180 vs. Euro and 73.85 vs. Rouble. The crude oil in NY is little changed at 52.60 $/b.

American market

There was little change in the US markets yesterday, which were split between fears about the consequences of the rebound in the health crisis and a tight global balance in corn and soybean.

Beneficial rains in South America suggest that crop conditions could improve, even if it is a bit late now. Soybean production in Brazil is expected to reach around 130 million tonnes and the corn crop just over 100 million tonnes. In Argentina, production of these two products is expected to be slightly below 50 million tonnes.

The new US President Joe Biden intends to renegotiate the 15 January 2020's trade agreement between the US and China.

Yesterday funds were net buyers for 5,000 lots of corn and 2,000 lots of soybeans. They were net sellers for 7,000 lots of wheat.

Black Sea market

Russian farmers are running a petition to demand a withdrawal of taxes on grain exports. They explain that they are doing their best to ensure both the country's food security and increase its export potential. Aware of the social importance of their products and given the priority need to supply the domestic market with grain, the producers do not oppose government measures to set grain export quotas but want the taxes that deprive them of significant income to be withdrawn.

Live news

First new case of swine fever in China