|Rapeseed||unch. to - 1€/t|
|Soybean||- 4 cents|
|Oil WTI||52.48 $/b|
|Nitrogen solution (€/t)|
|Wheat (€/t) : 1609 lots|
|18||Call Mar 17||165||6.20|
|2||Call Mar 17||166||5.50|
|3||Call Mar 17||172||2.10|
|1||Call May 17||170||6.80|
|10||Call Sep 17||170||11.50|
|150||Call Sep 17||172||10.33|
|150||Call Sep 17||185||5.56|
|75||Call Dec 17||175||11.20|
|75||Call Dec 17||190||6.04|
|250||Call Mar 18||175||13.75|
|300||Put May 17||163||1.75|
|150||Put Sep 17||153||1.32|
|150||Put Sep 17||158||2.25|
|275||Put Dec 17||160||3.50|
|Corn (€/t) : 0 lots|
|Rapeseed (€/t) : 645 lots|
|1||Call May 17||367.5||49.08|
|2||Call May 17||370||45.50|
|1||Call May 17||380||37.40|
|4||Call May 17||390||27.80|
|2||Call May 17||400||21.00|
|25||Call May 17||412.5||12.18|
|2||Call May 17||417.5||10.10|
|140||Call May 17||425||7.00|
|1||Call Aug 17||360||31.50|
|2||Call Aug 17||375||20.00 - 20.53|
|200||Call Aug 17||382.5||16.16|
|40||Call Aug 17||410||6.19|
|200||Call Aug 17||412.5||5.61|
|25||Put May 17||400||3.50|
|Wheat EU (€/t)|
|Soy meal ($/st)|
|Soy oil (¢/lb)|
|Wheat Delivered Rouen 2016||171.00||+2.00|
|Corn Fob Bordeaux 2015||168.00||+1.00|
|Corn Fob Rhin 2015||170.00||+0.00|
|Feed barley Delivered Rouen 2016||144.00||+1.00|
|Malting barley Fob Creil 2016||189.00||-1.00|
|Rapessed Fob Moselle - Flat||421.00||+0.00|
|Sunseed Delivered St Nazaire - Flat||390.00||+0.00|
|Feed peas Fob Creil 2016||220.00||+0.00|
Markets displayed a positive trend yesterday, for cereals as well as for oilseeds. Poor weather conditions in Argentina are creating strong concerns about a decrease in soybean production while the soy meal quotations have strongly increased in the last few days. Regarding cereals, the cold spell is generating some short covering even though significant damage on crops has not been observed since temperatures remain acceptable and snow cover is still substantial.
Financial markets are nervous before the inauguration of Donald Trump this Friday. Important changes in interest rates and on currencies are not to be ruled out in the next few weeks. Crude oil prices are evolving in a narrow tunnel since the agreement on production freeze is not entirely respected by certain OPEC members.
On the international scene, Morocco has approved the importation of 359 998 t of American wheat at preferential rates. The US have also sold 102 944 t of corn to an unknown destination.
High trade volumes were registered yesterday on the futures market, with 43 000 contracts on Euronext and 1 409 contracts of CME EU-wheat. Also oilseed traders were busy yesterday, considering extensive short-covering.
CBoT-soybean prices continued with their increase yesterday. Markets are pricing a potential loss of production in Argentina triggered by excessive precipitation in the last days.
Crushing activity is currently slowing down which is implying a lack of soy meal supply. Prices for the latter rallied along with soybean prices, while soy oil prices remained stable.
The fund’s activity was equally supportive with net purchases of 19 000 lots of corn, 17 000 lots of soybean, and 5 000 lots of wheat.
According to the USDA, export inspections were in line with expectations for wheat and corn and outperformed market expectations for soybean.
Black Sea market
According to Russian agro-meteorological services, the cold spell from ten days ago did not have a considerable impact on crop conditions. Winter crops did enter the dormancy period in a slightly more developed stage, compared to the year before. Only 3% of the fields were judged not to be in a good condition before winter while it was 9% in 2015.
Currently, temperatures in Russia and Ukraine drop down to -15°C while snow cover should still be sufficient to protect crops.