Pre-opening 14/06/2019
Paris Chicago
Wheatunch- 2 cents
Cornunch- 1 cent
Rapeseedunch to + 1 €
Soybean- 1 cent
Indexes 14/06/2019
€/$1.1265 $
Oil WTI52.51 $/b

Wheat (€/t)
Sep 19180.75+2.00
Dec 19184.50+1.75
Mar 20188.00+1.50
May 20189.75+1.50
Sep 20188.00+2.25
Corn (€/t)
Aug 19176.50+0.25
Nov 19175.75+1.50
Jan 20178.00+1.25
Mar 20180.25+1.25
Jun 20182.75+1.25
Rapeseed (€/t)
Aug 19369.25+1.75
Nov 19371.50+1.50
Feb 20374.25+1.75
May 20373.00+1.25
Aug 20360.50+1.00
Nitrogen solution (€/t)
Sep 19210.00+0.00
Nov 19220.00+0.00
Mar 20220.00+0.00
Jun 20220.00+0.00
Sep 20220.00+0.00

6/14/2019

Wheat (€/t) : 734 lots
LotsTypeStrikePrime
5Call Sep 191749.00
1Call Sep 191806.00
2Call Sep 191825.30
245Call Sep 192001.93
196Call Sep 192100.82
1Call Dec 191839.50
8Call Dec 191849.51
30Call Dec 191859.10
23Call Dec 192103.39
50Call Mar 202026.73
1Put Sep 191826.00
1Put Sep 191847.60
147Put Dec 191807.10
12Put Dec 191827.92
2Put Dec 191849.80
10Put Dec 2018812.00
Corn (€/t) : 24 lots
LotsTypeStrikePrime
24Call Aug 191773.12
Rapeseed (€/t) : 56 lots
LotsTypeStrikePrime
6Call Nov 19372.58.00
50Call Nov 193804.50

Wheat (¢/b)
Jul 19538.5000+4.0000
Sep 19542.0000+3.7500
Dec 19553.2500+4.0000
Mar 20563.0000+4.0000
May 20565.0000+3.0000
Corn (¢/b)
Jul 19453.0000+11.2500
Sep 19458.2500+10.2500
Dec 19463.5000+7.5000
Mar 20467.5000+6.0000
May 20468.5000+5.0000
Soybean (¢/b)
Jul 19896.7500+9.2500
Aug 19903.0000+9.2500
Sep 19910.0000+9.0000
Nov 19923.5000+8.5000
Jan 20935.0000+8.0000
Soy meal ($/st)
Jul 19323.5000+1.4000
Aug 19324.7000+1.3000
Sep 19326.4000+1.5000
Oct 19328.1000+1.5000
Dec 19331.9000+1.4000
Soy oil (¢/lb)
Jul 1927.6100-0.3300
Aug 1927.7700-0.3100
Sep 1927.9100-0.3300
Oct 1928.0400-0.2800
Dec 1928.3300-0.2800

6/14/2019

Physical (€/t)
Durum wheat delivered Port la Nouvelle Spot - July 2019 basis225.00+0.00
Wheat delivered Rouen - July 2019 basis174.00+1.00
Corn delivered Bordeaux Spot - July 2018 basis169.00+1.00
Corn FOB Rhin Spot - July 2018 basis161.00+1.00
Feed barley delivered Rouen - July 2019 basis161.00+1.00
Malting barley FOB Creil Spot - July 2019 basis178.00-3.00
Rapessed FOB Moselle Spot - Flat - 2019 harvest368.00+2.00
Sunseed delivered St Nazaire Spot - Flat - 2018 harvest335.00+0.00
Feed peas FOB Creil Spot - August 2019 basis197.00+2.00
Analysis 14/06/2019

European market

Rise of all products yesterday after the jump recorded in Chicago due to new rains expected in the Corn Belt that could disrupt a bit more the corn and soybean plantings. This is contrasting with the promising crop expected in Europe.

The euro is retreating slightly against dollar and is dealing around 1.1270 to start the day. The crude oil is recovering to 52.5 $/b on the WTI following the tensions in Oman Gulf.

On the international market, Mexico bought 175 000 t of corn sourced from USA and Japan bought 37 293 t of wheat sourced from Canada.

Rapeseed prices are finding some support from a steady canola in Winnipeg due to a slight hydric deficit in the country. Moreover, the rebound of crude oil and palm oil are underpinning the veg oils complex.

Indonesian authorities are currently testing the B30. In case of positive results, this country could incorporate up to 30% of palm oil in the local diesel.

Corn prices are dealing slightly up on Euronext. The rise is capped by Ukrainian imports and by favorable climatic conditions for the future crop in France. In Ukraine the next harvest is expected lower than last year but should remain abundant around 32.6 Mt according Proagro.go.

American market

Sharp progression of prices in Chicago yesterday as climatic conditions remain adverse. Fears are growing to see, after the corn, the soybean plantings also disrupted by the too wet weather. Another risk is to see an early winter that would hamper crops planted lately to reach a proper ripening stage. With these issues, fears and uncertainties should last during weeks and maintain a high level of volatility in the market.

Corn prices in Chicago have now progressed by +7% this week, those of soybean by +4% and those of wheat by + 6%.

Mexico should remain a top buyer of US wheat (around 4 Mt) despite of recent tensions between the two countries.

Yesterday, funds were net buyers in 38 00 lots of corn, 10 000 lots of soybean and 8 000 lots of wheat.

Black Sea market

In Russia, preliminary results of grain exports in 2018/19 have been summed up. 
According to the Federal State Budgetary Institution Federal Center for Quality and Safety of Grain and Grain Products, based on phytosanitary permits, the export of grain from Russia from July 1, 2018 to June 11, 2019 amounted to 49.4 million tons of grain and by-products (- 16% on the same date last year). Shipments of wheat decreased to 34.8 million tons (-13% year-on-year). Barley exports fell to 4.5 million tons (-22%). Corn exports fell 53% to 2.6 million tons.
The Top-3 importers of russian grains are Egypt, Turkey and Iran. Egypt imported 7.4 million tons of grains (mainly wheat), Turkey also bought 7.4 million tons of grains (including 5 million tons of wheat), imports of grain from Iran amounted to 2.5 million tons (including 1.6 million tons of corn).

Live news

Rebound of oil after incident in Gulf

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