Pre-opening 22/06/2017
Paris Chicago
Wheatunch to - 1 €- 2 cents
Cornunch- 1 cent
Rapeseedunch
Soybeanunch
Indexes 22/06/2017
€/$1.1169 $
Oil WTI42.53 $/b

Wheat (€/t)
Sep 17174.00-1.50
Dec 17177.50-1.25
Mar 18180.25-1.25
May 18181.75-1.25
Sep 18180.50-1.00
Corn (€/t)
Aug 17175.00-1.50
Nov 17173.00-1.50
Jan 18175.50-1.25
Mar 18177.00-1.50
Jun 18180.00-0.75
Rapeseed (€/t)
Aug 17357.00-1.00
Nov 17360.75-1.50
Feb 18363.75-1.50
May 18365.25-1.50
Aug 18350.00-1.25
Nitrogen solution (€/t)
Sep 17136.00-1.00
Nov 17137.50+0.00
Mar 18147.50+0.00
Jun 18145.50-0.50
Sep 18145.50-0.50

22/06/2017

Wheat (€/t) : 3693 lots
LotsTypeStrikePrime
100Call Sep 171726.01
2Call Sep 171744.99
2Call Sep 171774.90
506Call Sep 171802.85
1Call Sep 171951.00
200Call Dec 171758.94
6Call Dec 171788.00
260Call Dec 171806.64
2Call Dec 171835.80
1003Call Dec 171904.00
3Call Mar 181838.50
60Call Mar 182004.04
1Call May 1818210.80
5Call May 1818310.30
90Call May 182024.18
100Put Sep 171651.56
200Put Sep 171692.75
100Put Sep 171724.01
200Put Dec 171550.86
1Put Dec 171788.00
50Put Dec 1721033.40
60Put Mar 181653.39
60Put Mar 181809.59
1Put Mar 1818110.00
250Put May 181653.54
90Put May 181674.15
250Put May 181809.48
90Put May 1818210.51
Corn (€/t) : 603 lots
LotsTypeStrikePrime
170Call Nov 171803.70
1Call Jan 181777.00
4Call Jan 181815.50
170Put Nov 171621.79
190Put Nov 171704.76
34Put Jun 181653.31
34Put Jun 181809.71
Rapeseed (€/t) : 269 lots
LotsTypeStrikePrime
24Call Nov 173705.60 - 6.80
20Call Feb 183953.70
30Call Feb 184003.00
12Call May 1836514.82
41Call May 18367.515.00
70Put Aug 173501.90
36Put May 183404.48
36Put May 1836514.57

Wheat EU (€/t)
Sep 17173.5000+1.2500
Dec 17176.7500+1.5000
Mar 18180.7500+2.2500
May 18182.5000+2.5000
Sep 18179.0000-0.7500
Wheat (¢/b)
Jul 17464.5000-1.7500
Sep 17479.5000-3.2500
Dec 17502.0000-3.2500
Mar 18518.0000-2.7500
May 18529.5000-2.5000
Corn (¢/b)
Jul 17368.7500-6.0000
Sep 17376.7500-6.0000
Dec 17386.7500-5.7500
Mar 18396.2500-5.7500
May 18402.0000-5.5000
Soybean (¢/b)
Jul 17918.7500-12.7500
Aug 17922.5000-12.2500
Sep 17923.7500-11.7500
Nov 17927.7500-12.7500
Jan 18935.2500-12.0000
Soy meal ($/st)
Jul 17297.9000-3.6000
Aug 17299.7000-3.7000
Sep 17301.0000-4.0000
Oct 17301.3000-4.5000
Dec 17302.7000-4.6000
Soy oil (¢/lb)
Jul 1731.8500-0.2300
Aug 1731.9600-0.2500
Sep 1732.0900-0.2600
Oct 1732.1600-0.3000
Dec 1732.3700-0.2700

22/06/2017

Physical (€/t)
Durum Wheat Delivered Port la Nouvelle Spot - July 2017 basis245.00+0.00
Wheat Delivered Rouen - July 2017 basis167.00-2.00
Corn Fob Bordeaux Spot - July 2016 basis168.00+0.00
Corn Fob Rhin Spot - July 2016 basis170.00+0.00
Feed barley Delivered Rouen - July 2017 basis144.00-2.00
Malting barley Fob Creil Spot - July 2017 basis200.00+0.00
Rapessed Fob Moselle Spot - Flat - 2017 harvest358.00-2.00
Sunseed Delivered St Nazaire Spot - Flat - 2016 harvest345.00+0.00
Feed peas Fob Creil Spot - August 2017 basis225.00+0.00

Events

Analysis 22/06/2017

European market

Markets declined yesterday following the improvements of climatic conditions in USA where beneficial rains are expected. The drop of the ruble is also a bearish factor for the markets, considering the strong harvest pressure in Russia consequence of high carryout.

Winter barley harvest works are in full swing in France, yields look heterogeneous. Quality is globally good to very good specific weight is satisfactory, with counterpart high protein level that should downgrade some malting varieties into feed.

First cuts of wheat have also started, but it is too early to come to any conclusions.

The business on futures markets has slow downed yesterday, after very high volumes recorded these last few sessions. In wheat, 41 756 lots were exchanged on Euronext and 935 on the CME.

On the international stage, Egypt has launched a wheat tender for shipment from July 25 to August 5, results will be known this afternoon.

In last two days, rapeseed have experienced a sharp fall, due to the tumble of crude oil and veg oils, including palm and soybean. The market is ignoring the shortfall of next season European balance sheet that will be however compensated by an increase of imports. Climatic conditions in Canada are currently favorable.

The euro is in little evolution vs dollar. Interest rates should stay low in Europe and could rise again in USA before the end of the year.

American market

American market was falling yesterday, and after the rise recorded these last few days, some optimism is back on corn and soybean markets. The critical time of the flowering period is not yet reached, pushing operators to be careful, and even more before quarterly report about stocks and planted areas in USA planned on June 30.

Producers from the Corn Belt are optimistic, contrary to spring wheat farmers.

Other bearish element, weekly ethanol production decrease posted by IEA.

In Chicago, funds stopped their wheat short covering program and were net sellers in 6 000 lots of both corn and wheat and sellers of 9 000 contracts of soybean.

Black Sea market

In the wake of the fall in crude oil prices, the Russian ruble has depreciated significantly, losing nearly 10 % against the US dollar during  last 10 days. The USD / RUR parity appears this morning above the 60 level. The Russian currency is therefore at its lowest level since the end of January 2017.

In this context, prices for domestic cereals are increasing, which should prompt producers to sell much of their production as soon as the harvest is starting. At the end of the 2016/17 season, the relative strength of the ruble was often highlighted as one of the main reasons for the retention of goods by producers.

Thus, the combination of important carry-out stocks, good prospects for harvesting, and devaluation of the ruble should enable the Russian Federation to make a particularly noticeable start for the 2017/18 season.

Live news

Beginning of harvest in early regions