Pre-opening 18/07/2019
Paris Chicago
Wheatunch-1 cent
Cornunch-2 cents
Rapeseedunch
Soybeanunch
Indexes 17/07/2019
€/$1.1215 $
Oil WTI56.78 $/b

Wheat (€/t)
Sep 19176.75-0.75
Dec 19181.25-0.75
Mar 20184.50-0.25
May 20187.25-0.50
Sep 20182.75-0.25
Corn (€/t)
Aug 19178.25-0.25
Nov 19176.75-0.25
Jan 20179.00+0.00
Mar 20181.75+1.50
Jun 20184.25+1.00
Rapeseed (€/t)
Aug 19374.50-0.50
Nov 19375.25-0.50
Feb 20375.75-0.75
May 20373.75+2.25
Aug 20360.50+2.00
Nitrogen solution (€/t)
Sep 19181.00+0.00
Nov 19181.00+0.00
Mar 20191.00+0.00
Jun 20191.00+0.00
Sep 20191.00+0.00

7/17/2019

Wheat (€/t) : 12938 lots
LotsTypeStrikePrime
625Call Sep 191801.79
200Call Sep 191850.96
3520Call Sep 191900.61
100Call Dec 191856.20
1000Call Dec 191904.48
1000Call Dec 192101.90
3Call Mar 201839.50
10Call Mar 201907.22
600Call Mar 201955.82
200Call Mar 202004.76
3950Put Sep 191753.00
100Put Sep 191762.47
500Put Sep 191773.02
300Put Sep 191805.04
30Put Dec 191796.10
600Put Dec 191806.62
200Put Mar 201859.58
Corn (€/t) : 0 lots
LotsTypeStrikePrime
Rapeseed (€/t) : 355 lots
LotsTypeStrikePrime
189Call Nov 193756.20 - 7.00
1Call Feb 203759.70
2Call Feb 20377.58.59
2Call May 20372.512.50
1Call May 2037510.80
100Put Nov 193550.60
60Put Nov 193704.10 - 4.30

Wheat (¢/b)
Sep 19505.5000-2.2500
Dec 19517.2500-2.7500
Mar 20529.7500-2.2500
May 20535.2500-3.0000
Jul 20535.2500-3.2500
Corn (¢/b)
Sep 19436.0000-2.2500
Dec 19441.5000-2.5000
Mar 20448.7500-2.5000
May 20452.2500-2.5000
Jul 20454.7500-2.2500
Soybean (¢/b)
Aug 19882.5000-0.2500
Sep 19888.2500+0.0000
Nov 19900.5000+0.0000
Jan 20912.7500+0.0000
Mar 20922.5000-0.5000
Soy meal ($/st)
Aug 19307.5000+0.6000
Sep 19309.0000+0.3000
Oct 19310.7000+0.3000
Dec 19313.6000+0.4000
Jan 20315.3000-0.1000
Soy oil (¢/lb)
Aug 1927.6800+0.1300
Sep 1927.7900+0.1300
Oct 1927.9000+0.1100
Dec 1928.1100+0.1200
Jan 2028.3500+0.1100

7/18/2019

Physical (€/t)
Durum wheat delivered Port la Nouvelle Spot - July 2019 basis227.00+0.00
Wheat delivered Rouen - July 2019 basis172.00+1.00
Corn delivered Bordeaux Spot - July 2018 basis170.00+0.00
Corn FOB Rhin Spot - July 2018 basis168.00+0.00
Feed barley delivered Rouen - July 2019 basis161.00+2.00
Malting barley FOB Creil Spot - July 2019 basis170.00+0.00
Rapessed FOB Moselle Spot - Flat - 2019 harvest374.50+1.50
Sunseed delivered St Nazaire Spot - Flat - 2018 harvest340.00+0.00
Feed peas FOB Creil Spot - August 2019 basis195.00+0.00
Analysis 18/07/2019

European market

The prices rose yesterday on Euronext on the back of downward movement of the euro against the dollar. The euro was trading around 1.12 before nevertheless rebounding later. This decrease has led European prices to adjust up yesterday both in the various physical markets and on Euronext futures market.

Only 60,000 t of Russian wheat was purchased as a result of Egypt's tender. This marks out FOB prices from Russia which are slightly higher compared to the proposals of July 9 for another call for tenders by the GASC. In France, where the harvest is progressing, the return of supplies makes it possible to meet the needs for loading, thus boosting activity in the port area, particularly in soft wheat and also in barley.

The hot weather announced next week forces operators to be cautious especially on corn crops. The November 2019 maturity price on Euronext thus rises above 176 €/, reaching the level of the beginning of July.

Progress in the rapeseed harvest confirms the idea of weak production potential in Europe. Prices are firming for the August 2019 contract on Euronext and returning to trade on values close to the highest levels since last October. The next deadlines also progress without however coming back to negotiate on the highest levels registered for the same period.

American market

Corn prices are stabilizing, in a context where weather forecasts are still announcing the return of high temperatures this weekend. So, uncertainty about corn yields in the USA is added to concerns about the acreage.

Weather conditions have also to be followed to see the potential of soybean production. For the moment, the soybean prices in the USA are decreasing, thus erasing the entire upward movement of the past week.

Indeed, the prices for November 2019 contract are back to test the support level of 9 $/b.

Chicago's wheat market is also flat during this harvest. The September 2019 deadline stabilizes however above the support level of 5 $/b. 

Black Sea market

The export sales on the 2019/20 campaign began on July 1 and are gaining momentum in Ukraine. According to the state tax authorities, as for July 17, wheat exports amounted to 322 Kt, 75 Kt more than last year at the same date.

Since the beginning of July, barley exports have reached 327 Kt, an increase of 78 Kt compared to 2018/19. As a reminder, according to the latest July USDA forecast, Ukrainian wheat exports in 2019/20 are expected to reach 19 Mt. According to the United States Department of Agriculture, barley export volume would amount to 4.2 Mt. In addition, Ukrainian corn continues to be actively exported. In the first half of July, corn exports reached 1.038 Mt, an increase of 756 Kt vs the same period last year.

Live news

Slight rebound of the euro against the dollar, posted this morning at 1.1240

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