Pre-opening 14/10/2019
Paris Chicago
Wheatunchunch
Cornunch+ 1 cent
Rapeseed- 1 €
Soybean+ 4 cents
Indexes 11/10/2019
€/$1.1043 $
Oil WTI54.7 $/b

Wheat (€/t)
Dec 19180.00-0.50
Mar 20183.25-0.75
May 20185.00-0.50
Sep 20183.00+0.00
Dec 20185.75-0.25
Corn (€/t)
Nov 19165.25-0.50
Jan 20170.50+0.00
Mar 20174.25+0.00
Jun 20178.25+0.00
Aug 20180.75+1.25
Rapeseed (€/t)
Nov 19383.75-0.75
Feb 20384.00+0.00
May 20381.75+0.00
Aug 20367.50+0.50
Nov 20371.25+0.00
Nitrogen solution (€/t)
Mar 20180.00+0.00
Jun 20180.00+0.00
Sep 20180.00+0.00
Nov 20180.00+0.00
Mar 21180.00+0.00

10/11/2019

Wheat (€/t) : 2731 lots
LotsTypeStrikePrime
100Call Dec 191793.28
440Call Dec 191802.00 - 2.20
700Call Dec 191850.70
500Call Mar 201854.75
1Call Mar 202022.05
30Call May 201904.86
40Call May 201953.51
150Call May 202042.02
550Call Dec 201859.20
40Put May 201804.32
180Put May 201846.22
Corn (€/t) : 0 lots
LotsTypeStrikePrime
Rapeseed (€/t) : 121 lots
LotsTypeStrikePrime
50Call Feb 20392.53.30
15Call Feb 203953.40
1Call May 203906.00
3Call Aug 203806.00
1Call Nov 2037013.60
1Call Nov 204004.73
50Put Feb 20382.55.59

Wheat (¢/b)
Dec 19508.0000+1.2500
Mar 20514.0000+1.2500
May 20518.5000+0.7500
Jul 20522.2500+0.7500
Sep 20529.2500+0.2500
Corn (¢/b)
Dec 19397.7500-1.7500
Mar 20407.7500-2.0000
May 20412.7500-2.0000
Jul 20416.5000-1.5000
Sep 20407.7500+0.0000
Soybean (¢/b)
Nov 19936.0000-3.5000
Jan 20950.5000-3.2500
Mar 20961.0000-3.5000
May 20968.5000-3.2500
Jul 20976.7500-3.2500
Soy meal ($/st)
Dec 19310.8000-1.3000
Jan 20313.2000-1.3000
Mar 20316.6000-1.1000
May 20320.2000-0.8000
Jul 20324.1000-0.4000
Soy oil (¢/lb)
Dec 1929.9700-0.0700
Jan 2030.2100-0.0800
Mar 2030.4600-0.0700
May 2030.7500-0.0900
Jul 2031.0600-0.1000

10/14/2019

Physical (€/t)
Durum wheat delivered Port la Nouvelle Spot - July 2019 basis260.00+0.00
Wheat delivered Rouen - July 2019 basis173.00+2.50
Corn delivered Bordeaux Spot - July 2019 basis164.00+2.00
Corn FOB Rhin Spot - July 2019 basis166.00+3.00
Feed barley delivered Rouen - July 2019 basis163.00+1.50
Malting barley FOB Creil Spot - July 2019 basis160.00+0.00
Rapessed FOB Moselle Spot - Flat - 2019 harvest384.00+0.00
Sunseed delivered St Nazaire Spot - Flat - 2019 harvest325.00-2.00
Feed peas FOB Creil Spot - August 2019 basis202.00+2.00
Analysis 14/10/2019

European market

Cereals prices increased sharply last Friday in the wake of Chicago. Two factors justified this rally: the improvement in trade relations between USA and China and fears of frost damages in the US Corn Belt.

Traders erased Thursday’s losses recorded after the USDA’s report. Doubts are remaining about the actual corn yields in USA. The trend relation between US and European markets is strong. Supply are ample in Europe and the export competition with Black Sea is stiff.

According FranceAgrimer, 4% of winter wheat was seeded on October 7 in France, this must be compared with 15% completed at the same date of last year. Harvests of corn were estimated achieved up to 14% vs 65% last season to date. Recent precipitations in France have delayed autumn works.

Rapeseed prices have retreated last week mainly due to the weakness of the palm. The downward trend persists this morning on this market as India could implement import duties.

Th euro is dealing at 1.103 vs dollar to start the week.

American market

Surge of prices in Chicago last Friday on the back of short covering from funds that offset the day-before sell-off that followed the release of the USDA report.

Optimism was back after a partial deal concluded between USA and China. However, the relations remain fragile between the two countries.

Climatic conditions in Dakota, Minnesota and Iowa raised concerns as negative temperatures recorded during the weekend have probably stopped the final vegetative development of late corn crops. It is too early to assess possible damages.

The swine fever in China has cut country’s pig herd by -40% from last year according the Chinese authorities. This has caused a sharp diminution of soybean purchases even if the business is currently picking up a bit.

Friday, funds were net buyers in 40 000 lots of corn, 15 000 lots of soybean and 10 000 lots of wheat.

Black Sea market

The Ukrainian Prime Minister, Alexander Goncharuk, said last Friday that companies owned by a foreign agent will not be in capacity to buy lands in Ukraine. This amendment has been passed in the law about the opening of the agricultural lands and is caused by the high level of demand from citizens. The law has been promulgated by the Rada and is visible on its website from October 7. The ban will not concern the foreign companies paying taxes and registered in Ukraine for more than 3 years. Of course, these entities must be agricultural producers and already renting lands.

Live news

Surprisingly bearish USDA report for corn

9