Pre-opening 17/10/2017
Paris Chicago
Wheatunch to - 1 €+ 1 cent
Cornunch to -1 €- 1 cent
Rapeseed- 1 €
Soybean- 1 cent
Indexes 17/10/2017
€/$1.1759 $
Oil WTI51.88 $/b

Wheat (€/t)
Dec 17162.50+0.25
Mar 18168.50+0.50
May 18172.00+0.50
Sep 18174.25+0.25
Dec 18177.50+0.25
Corn (€/t)
Nov 17148.75+2.00
Jan 18156.50+2.75
Mar 18160.75+1.50
Jun 18164.50+1.25
Aug 18168.25+1.00
Rapeseed (€/t)
Nov 17365.75-0.25
Feb 18371.50+0.00
May 18374.00+0.00
Aug 18360.75-0.50
Nov 18364.50-0.50
Nitrogen solution (€/t)
Mar 18162.50+0.00
Jun 18151.50+0.00
Sep 18149.50+0.00
Nov 18150.00+0.00
Mar 19159.00+0.00

17/10/2017

Wheat (€/t) : 1483 lots
LotsTypeStrikePrime
300Call Mar 181704.90
1Call Mar 181714.48
100Call Mar 181762.84
50Call Mar 181900.76
50Call Mar 181950.49
385Call May 181804.50
377Call May 181901.90
70Put Dec 171601.60
25Put Mar 181561.30
25Put Mar 181571.40
100Put Mar 181622.76
Corn (€/t) : 9 lots
LotsTypeStrikePrime
9Call Jun 181656.32
Rapeseed (€/t) : 1998 lots
LotsTypeStrikePrime
170Call Feb 183804.10
70Call Feb 183853.00
2Call May 18372.511.90
5Call May 1837511.40 - 11.50
100Call May 184004.06
510Put Feb 183400.40
510Put Feb 183501.30
430Put Feb 183603.50
100Put Feb 183654.66
100Put May 183709.35
1Put May 1837511.89

Wheat EU (€/t)
Dec 17160.0000+0.0000
Mar 18167.5000+0.5000
May 18166.5000+0.2500
Sep 18166.5000+0.5000
Dec 18170.5000+0.5000
Wheat (¢/b)
Dec 17434.7500-1.5000
Mar 18453.7500-1.5000
May 18467.5000-1.5000
Jul 18481.0000-1.7500
Sep 18496.5000-1.2500
Corn (¢/b)
Dec 17350.0000-0.5000
Mar 18363.7500-0.2500
May 18372.0000-0.5000
Jul 18378.5000-0.5000
Sep 18385.2500-0.5000
Soybean (¢/b)
Nov 17984.7500-1.2500
Jan 18995.2500-0.7500
Mar 181005.0000-0.7500
May 181014.0000-1.2500
Jul 181022.0000-0.7500
Soy meal ($/st)
Dec 17321.6000-0.7000
Jan 18323.9000-0.7000
Mar 18327.0000-0.6000
May 18329.3000-0.7000
Jul 18331.4000-0.5000
Soy oil (¢/lb)
Dec 1733.5900+0.0300
Jan 1833.7400+0.0600
Mar 1833.9800+0.0600
May 1834.2100+0.0500
Jul 1834.3900+0.0300

18/10/2017

Physical (€/t)
Durum wheat delivered Port la Nouvelle Spot - July 2017 basis230.00+0.00
Wheat delivered Rouen - July 2017 basis157.00+1.00
Corn delivered Bordeaux Spot - July 2017 basis144.00+0.00
Corn FOB Rhin Spot - July 2017 basis154.00+0.00
Feed barley delivered Rouen - July 2017 basis152.00+1.00
Malting barley FOB Creil Spot - July 2017 basis199.50-1.50
Rapessed FOB Moselle Spot - Flat - 2017 harvest365.00+0.00
Sunseed delivered St Nazaire Spot - Flat - 2017 harvest320.00+0.00
Feed peas FOB Creil Spot - August 2017 basis195.00+0.00

Events

Analysis 17/10/2017

European market

Choppy session on Euronext yesterday, wheat prices were slightly up, but significant moves affected the front contract of the corn. This delivery plummeted by -3.25 €/t in a context of a bigger competition with Ukrainian origins implied by the cut of import duties in EU.

Planting conditions of winter wheat in France remain favorable in the absence of precipitations and thanks to a mild weather. Same situation in the east of Europe, however, the vegetative development of the crops could be insufficient before winter.

Corn harvest is progressing smoothly in France and yields are globally favorable, suggesting a production above 13 Mt. The competition of Black Sea origins is perceptible with our main customers like Spain.

On the international stage, we can note the sale of 227 300 t of soybean by USA to unknown destination. Algeria is officially buyer of 50 000 t of soft wheat, shipment between 1st and 15th of January. This tender will expire today.

Rapeseed prices were in little decline yesterday, penalized by the weakness of soybean prices unable to break for long the psychological level of 10 $/bushel in Chicago.

Stability of the euro vs dollar despite of Spanish events and a disappointing election for Angela Merkel.

American market

Drop of all commodities yesterday, markets remain depressed. Export inspections were disappointing for the wheat and corn, only soybean figures were ok.

However, soybean prices did not manage to break for long the 10 $/bushel level, pushing funds to sell-off.

Financial funds were net sellers of 5 500 lots of corn, 8 000 lots of soybean and 2 500 lots of wheat.

Updated on last Sunday, soybean harvest was 49% done vs 60% on average in last five years. Corn harvest was 28% done vs 47% in last five years. Wheat plantings were done up to 60% vs 71% in average.

Weather forecasts look favorable to an acceleration of harvest works.

Black Sea market

After a slight delay, winter wheat planting campaign gained momentum and is ahead of the 2016’s pace who was already reflecting a progress compared to the previous year. For last three campaigns, we can note a significant increase of winter wheat acreage in the Russian Federation. This is an important change as it is the way to increase yields and production. This phenomenon is mainly visible in the South-West and Volga areas. The final acreage od winter crops could exceed the level of 2016 at 17.5 Mha. As a reminder, the wheat represents 80% of the total, i.e. 14 to 14.5 Mha. Recent rains observed should ease a part of concerns linked to the hydric deficit recorded these last few weeks.

Live news

Sharp decline of corn prices