Pre-opening 25/04/2018
Paris Chicago
Wheatunch. to + 1€+ 1 cents
Cornunch. to + 1 €+ 1 cents
RapeseeduncH.
Soybean+ 5 cents
Indexes 25/04/2018
€/$1.2185 $
Oil WTI67.7 $/b

Wheat (€/t)
May 18165.25+1.75
Sep 18169.00+2.50
Dec 18172.25+2.25
Mar 19176.00+2.00
May 19178.00+2.00
Corn (€/t)
Jun 18162.75+0.75
Aug 18168.50+0.50
Nov 18168.75+0.00
Jan 19170.25-0.75
Mar 19172.50+0.00
Rapeseed (€/t)
May 18340.50+1.50
Aug 18345.00+3.50
Nov 18349.50+3.00
Feb 19354.25+3.50
May 19355.50+3.50
Nitrogen solution (€/t)
Jun 18137.00+0.00
Sep 18140.00+0.00
Nov 18145.00+0.00
Mar 19160.00+0.00
Jun 19138.00+0.00

25/04/2018

Wheat (€/t) : 1246 lots
LotsTypeStrikePrime
2Call Sep 181695.30
200Call Sep 181704.20
10Call Sep 181901.10
304Call Dec 181708.00
30Call Dec 181736.00
300Call Dec 181746.20
100Put Sep 181663.64
300Put Dec 181602.30
Corn (€/t) : 4 lots
LotsTypeStrikePrime
4Put Jun 191705.90
Rapeseed (€/t) : 335 lots
LotsTypeStrikePrime
1Call Aug 183456.00
100Call Aug 183502.80
40Call Aug 183552.00
70Call Nov 183604.20
50Call Nov 183653.10
2Put Aug 183403.83
8Put Nov 183201.20
4Put Nov 183251.90
60Put Nov 183404.50

Wheat EU (€/t)
May 18160.0000-5.0000
Sep 18159.2500-5.0000
Dec 18163.2500-5.0000
Mar 19164.7500-5.0000
May 19164.2500-5.0000
Wheat (¢/b)
May 18472.5000+13.2500
Jul 18484.2500+14.2500
Sep 18501.7500+13.2500
Dec 18525.5000+12.7500
Mar 19544.0000+11.5000
Corn (¢/b)
May 18381.2500+4.2500
Jul 18390.0000+5.0000
Sep 18397.2500+4.7500
Dec 18406.5000+4.7500
Mar 19414.2500+4.7500
Soybean (¢/b)
May 181022.2500+4.0000
Jul 181034.0000+4.0000
Aug 181036.0000+4.0000
Sep 181031.7500+3.5000
Nov 181028.7500+4.2500
Soy meal ($/st)
May 18372.1000+4.4000
Jul 18376.3000+4.4000
Aug 18376.8000+3.3000
Sep 18376.3000+2.8000
Oct 18374.2000+2.5000
Soy oil (¢/lb)
May 1831.0100-0.2300
Jul 1831.2700-0.2200
Aug 1831.3900-0.2300
Sep 1831.5400-0.2200
Oct 1831.6800-0.2200

25/04/2018

Physical (€/t)
Durum wheat delivered Port la Nouvelle Spot - July 2017 basis195.00+0.00
Wheat delivered Rouen - July 2017 basis155.00-1.00
Corn delivered Bordeaux Spot - July 2017 basis156.00-1.50
Corn FOB Rhin Spot - July 2017 basis163.00+0.00
Feed barley delivered Rouen - July 2017 basis160.00-1.50
Malting barley FOB Creil Spot - July 2017 basis173.00-2.00
Rapessed FOB Moselle Spot - Flat - 2017 harvest338.00-2.00
Sunseed delivered St Nazaire Spot - Flat - 2017 harvest320.00+0.00
Feed peas FOB Creil Spot - August 2017 basis183.00+0.00
Analysis 25/04/2018

European market

After a decrease at the start of the session, grain prices closed nearly unchanged on Euronext, supported by Chicago and from technical buying on support levels.

Nevertheless, physical prices were pressured in France since the SNCF continues to hinder logistics.

Rapeseed prices registered a downward movement penalized by imports of Argentinian biodiesel and making margins for our industries insufficient. Furthermore, traders are anticipating an increase in canola acreage this year in Canada. In France, Rapeseed flowering is heterogenous.

The Euro continues to be displayed slightly above 1.22 against the dollar. This zone can be considered as a technical support and a breach could lead towards 1.20.

On the international stage, the US sold 130 000 t of soybean to Argentina. Algeria bought 200 000 t of durum wheat from optional origins and for July loadings.

In the context of trade tensions, China has imported 3.1 Mt of US soybean during March and so a downturn of 26.6 % compared to last year for the same period. On the other hand, imports of Brazilian origins were displayed at 2.33 Mt so an increase of 33.3% compared to march of last year.

American market

Rebound on wheat in Chicago yesterday, in a context of buy-backs from the funds that anticipate a sharp decline in US production related to the persistent water deficit. This movement was also supported by a delay in spring plantings.

Soybean and corn sowings are also delayed compared to last year without generating any particular fears for now.

Yesterday, funds were net buyers in 9 500 lots of corn, 3 500 lots of soybean and 6 500 lots of wheat.

Climatic conditions on the Corn Belt will be closely monitored in the coming days, which could animate the market in case of prolonged delay of spring sowings.

Black Sea market

Corn prices in Ukraine are starting to decrease for the old crop and are falling by almost 3 % since the beginning of the week. They are now displayed around 191 $/t CPT. Therefore, the price difference between Ukrainian and US Corn is around 45$/t and so the highest level since the beginning of the campaign. This justifies a realignment of Ukrainian corn prices in a context where it has risen by + 30% since January 2018. In addition, the volumes remaining to be exported are substantial because only 59% of the projected volumes were exported at the end of March, against a five-year average of 70% to date. In this context, Ukraine will have to remain competitive with other origins in order to regain suitable stock levels.

Live news

Rebound on the support zone for grains