Pre-opening 25/02/2020
Paris Chicago
Wheatunch to +0.50€/t+2 cents
Cornunchunch
Rapeseed+1€/t
Soybean+5 cents
Indexes 25/02/2020
€/$1.084 $
Oil WTI49.9 $/b

Wheat (€/t)
Mar 20192.50+0.25
May 20188.50-1.00
Sep 20182.50+0.25
Dec 20184.75+0.00
Mar 21187.00+0.25
Corn (€/t)
Mar 20169.75+0.75
Jun 20170.25-0.25
Aug 20174.25-0.25
Nov 20170.50-0.25
Jan 21174.00+0.50
Rapeseed (€/t)
May 20390.75-1.75
Aug 20381.75-0.75
Nov 20384.25-0.25
Feb 21384.75-0.50
May 21384.50-1.50
Nitrogen solution (€/t)
Jun 20177.50+0.00
Sep 20177.50+0.00
Nov 20177.50+0.00
Mar 21177.50+0.00
Jun 21177.50+0.00

25/02/2020

Wheat (€/t) : 6177 lots
LotsTypeStrikePrime
600Call May 201941.96
1100Call May 201951.73
75Call May 202050.57
1Call Dec 201955.00
900Put May 201780.48
600Put May 201821.22
1300Put May 201852.18
900Put May 201862.59
600Put May 201873.05
1Put May 201883.55
100Put Sep 201601.00
Corn (€/t) : 200 lots
LotsTypeStrikePrime
100Call Nov 201851.93
100Put Nov 201654.03
Rapeseed (€/t) : 1071 lots
LotsTypeStrikePrime
1Call May 20377.515.60
90Call May 203954.40
80Call May 204002.80 - 3.10
450Call Nov 204005.26
50Call Nov 204103.00
400Put Nov 203756.38

Wheat (¢/b)
Mar 20539.0000-3.0000
May 20537.0000-3.0000
Jul 20537.2500-2.5000
Sep 20543.2500-2.5000
Dec 20553.0000-2.7500
Corn (¢/b)
Mar 20372.5000-1.0000
May 20376.5000-0.5000
Jul 20380.0000+0.0000
Sep 20378.0000+0.0000
Dec 20382.2500+0.2500
Soybean (¢/b)
Mar 20879.0000+0.2500
May 20888.2500+0.7500
Jul 20899.7500+0.5000
Aug 20903.7500+0.5000
Sep 20905.0000+0.2500
Soy meal ($/st)
Mar 20286.5000+0.2000
May 20293.0000+0.3000
Jul 20299.3000+0.3000
Aug 20301.3000+0.4000
Sep 20302.5000+0.2000
Soy oil (¢/lb)
Mar 2029.2300+0.0200
May 2029.6200+0.0200
Jul 2030.0100+0.0200
Aug 2030.1900+0.0200
Sep 2030.3700+0.0600

26/02/2020

Physical (€/t)
Durum wheat delivered Port la Nouvelle Spot - July 2019 basis260.00+0.00
Wheat delivered Rouen - July 2019 basis187.00+0.00
Corn delivered Bordeaux Spot - July 2019 basis166.00+0.00
Corn FOB Rhin Spot - July 2019 basis169.00+0.00
Feed barley delivered Rouen - July 2019 basis157.00+0.00
Malting barley FOB Creil Spot - July 2019 basis161.00+1.00
Rapessed FOB Moselle Spot - Flat - 2019 harvest394.00-2.00
Sunseed delivered St Nazaire Spot - Flat - 2019 harvest350.00+0.00
Feed peas FOB Creil Spot - August 2019 basis210.00+0.00
Analysis 25/02/2020

European market

Prices for all products fell yesterday against a backdrop of fears about the spread of the coronavirus. The consequences of this epidemic are not measurable to date. The operators express their fears about both a drop in the flow of goods and especially about global demand weakening if the number of countries infected with the virus increase. The fears this morning relate to Italy with 7 official deaths. The veg oils market suffered the biggest drop. The rapeseed prices lost about - 6 €/t.

Currency prices have changed little, with the euro posted this morning at 1.0850 against the dollar. Crude oil prices, on the other hand, lost ground, a product that depended a lot on economic growth. The stock markets were also struggling with a yesterday fall of the CAC 40 by almost - 4 %.

From a climatic point of view, conditions remain very favorable in the Black Sea area, suggesting today that a very good wheat crop will be harvested in Russia.

On the international scene, Saudi Arabia has confirmed the purchase of 715,000 t of wheat, optional origin. The suppliers should mainly be Germany and Poland, maybe Russia in view of the required characteristics. The USA sold a little bit more than 163,000 t of soybeans to Mexico.

In Canada, rail blockages also weighed on the flow of goods, putting pressure on canola prices.

American market

Very sharp fall in prices was observed yesterday in Chicago, in all products, with the spread of the coronavirus as the main reason. This leads to precautionary sales linked to the risk of a fall in global economic growth and therefore in the flow of goods. From a technical point of view, this fall is followed by the breaking of support levels.

Wheat prices marked a clear decline accentuated by the prospect of abundant harvests in the Black Sea area. Soybean prices, the followers of oilseeds and sensible to biofuel demand, are also decreasing. Only corn was losing ground slightly, thanks to good export figures posted by the USDA last week.

The funds were net sellers yesterday for 15,000 lots of corn, 12,000 lots of soybeans and 15,000 lots of wheat.

Black Sea market

The unusually high temperatures that have been recorded in Ukraine in recent months have made it possible to start field works earlier than usual. Thus, in the southern and central regions of Ukraine producers have already started to put the fertilizers on winter crops, while in the south of the country, near Odesa, some farmers are sowing spring barley.

In addition, the arrival of cyclone Julia on the territory of Ukraine should bring a lot of precipitation, increasing the soil moisture reserves which will have a positive impact on the winter crop conditions.

Live news

Markets falling

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