Pre-opening 21/07/2017
Paris Chicago
Wheat- 1 €/tunch.
Corn- 1 €/t- 2 cents
Rapeseed- 1 €/t
Soybean- 4 cents
Indexes 21/07/2017
€/$1.1642 $
Oil WTI45.77 $/b

Wheat (€/t)
Sep 17170.50+0.25
Dec 17176.75+0.00
Mar 18181.25+0.25
May 18184.00+0.25
Sep 18182.25+1.00
Corn (€/t)
Aug 17165.25-0.75
Nov 17167.75-0.75
Jan 18171.25-0.25
Mar 18173.75+0.00
Jun 18176.50+0.00
Rapeseed (€/t)
Aug 17365.25-1.75
Nov 17368.50-1.25
Feb 18370.75-0.75
May 18373.00+0.00
Aug 18355.50+0.25
Nitrogen solution (€/t)
Sep 17136.50+0.00
Nov 17137.00+0.00
Mar 18145.50+0.00
Jun 18143.00+0.00
Sep 18144.50+0.00

21/07/2017

Wheat (€/t) : 703 lots
LotsTypeStrikePrime
1Call Sep 171722.50
1Call Dec 171776.20
100Call Dec 171786.00
1Call Dec 171804.99
3Call Dec 171833.96
50Call Dec 171941.81
25Call Dec 172001.25
60Call Mar 181828.43
50Call Mar 182003.41
6Call May 1817912.38
51Call May 181859.50
50Call May 182004.70
4Call Sep 1818211.70
50Call Dec 182007.90
1Put Dec 171776.10
50Put Dec 171787.06
50Put Mar 181755.78
50Put May 181755.73
50Put Sep 181758.09
50Put Dec 1818010.21
Corn (€/t) : 0 lots
LotsTypeStrikePrime
Rapeseed (€/t) : 47 lots
LotsTypeStrikePrime
1Call Nov 173758.10
2Call Feb 18372.513.50
20Call Feb 183906.90
3Call May 18372.516.90
20Call May 18387.510.50
1Call May 184204.05

Wheat EU (€/t)
Sep 17167.2500-0.7500
Dec 17172.2500-1.0000
Mar 18176.7500+0.7500
May 18179.2500+0.7500
Sep 18178.2500+0.2500
Wheat (¢/b)
Sep 17499.2500-4.5000
Dec 17522.5000-5.0000
Mar 18543.0000-4.7500
May 18553.0000-5.2500
Jul 18558.0000-6.2500
Corn (¢/b)
Sep 17379.7500-11.0000
Dec 17393.5000-11.0000
Mar 18404.5000-10.5000
May 18409.5000-10.5000
Jul 18414.2500-9.7500
Soybean (¢/b)
Aug 171009.0000-4.7500
Sep 171014.2500-4.5000
Nov 171022.2500-5.2500
Jan 181030.7500-5.0000
Mar 181033.5000-3.7500
Soy meal ($/st)
Aug 17329.7000-1.4000
Sep 17331.7000-1.4000
Oct 17333.6000-1.5000
Dec 17336.8000-1.8000
Jan 18338.7000-1.7000
Soy oil (¢/lb)
Aug 1733.8000-0.1600
Sep 1733.9300-0.1500
Oct 1734.0400-0.1600
Dec 1734.2700-0.1500
Jan 1834.4200-0.1600

21/07/2017

Physical (€/t)
Durum Wheat Delivered Port la Nouvelle Spot - July 2017 basis255.00+0.00
Wheat Delivered Rouen - July 2017 basis164.00-1.00
Corn Fob Bordeaux Spot - July 2016 basis157.00-2.00
Corn Fob Rhin Spot - July 2016 basis166.00-1.00
Feed barley Delivered Rouen - July 2017 basis144.00-1.00
Malting barley Fob Creil Spot - July 2017 basis192.00+0.00
Rapessed Fob Moselle Spot - Flat - 2017 harvest367.00+0.00
Sunseed Delivered St Nazaire Spot - Flat - 2016 harvest350.00+0.00
Feed peas Fob Creil Spot - August 2017 basis212.00-5.00

Events

Analysis 21/07/2017

European market

The Euro came back onto its highest levels since august 2015 against the dollar. The increase movement already in place, accelerated following Mario Draghi’s statement. The ECB director reassured the markets by maintaining the current monetary policy. The increase movement naturally led to a new downward adjustment of agricultural commodities. European wheat prices registered a decline yesterday on Euronext and on the CME.

While harvest in Europe is progressing, operators are integrating the latest export numbers. The European commission showed a cumulative volume of 460 378 t since 1st of July.  In detail, more than 50% of the volumes are credited to France. At the same time, European barley exports are progressing knowing that the attention of exporters is shifting towards Saudi Arabia. This country has launched a new tender for 1.5 Mt of feed barley for deliveries between September and October.

Regarding Imports, corn volumes are still progressing. On the international stage, South-american availabilities are still on very high levels knowing that Argentina revised up its production estimation. The agricultural ministry integrated an increase of acreage and yields.     

American market

The latest forecast evolution of the US weather conditions are bringing support to the corn as well as beans prices. Indeed, ongoing dry weather in North Dakota and Montana pushed the US drought monitor to requalify several areas in “severe drought”. This is likely to lead to new degradation of the USDA crop ratings. The conditions of the spring crops are also worrying in Canada as seen in the Saskatchewan province were dry and hot weather without rains is observed in several areas.

The Dec 17 wheat contract bounced yesterday after it tested its 5.2 $/bu support. Good US export sales on weekly basis were supportive.

 

Black Sea market

Significant rainfall are expected in the main growing regions of the Black Sea area in the coming week. Models are showing that farmers have 2 or 3 more days of hot weather to go on harvesting before storms appears. 20 mm up to 30 mm of water are expected this weekend and in the beginning of the week. The north-western part of Ukraine could even record as much as 75 mm of precipitations.

On the first hand rains are likely to slow down the harvest work but, on the other hand, they will be supportive for the spring crops that sometimes highly need this water. Indeed, the temperatures are now often close to or even above 30°C.

Live news

Stable growth of the euro vs dollar.