Pre-opening 27/05/2016
Paris Chicago
Wheatunchanged- 1 cent
Cornunchanged- 1 cent
Rapeseedunchanged
Soybean+ 4 cents
Indexes 26/05/2016
€/$1.1168 $
Oil WTI49.48 $/b

Wheat (€/t)
Sep 16167.25-0.75
Dec 16171.75-1.00
Mar 17176.50-1.00
May 17179.00-1.00
Sep 17181.00-0.75
Corn (€/t)
Jun 16170.50-0.25
Aug 16176.25-0.75
Nov 16169.50-0.25
Jan 17172.25-1.00
Mar 17173.25+0.00
Rapeseed (€/t)
Aug 16374.25-0.75
Nov 16378.00-0.50
Feb 17380.00-1.25
May 17380.50-1.00
Aug 17368.50-1.50

26/05/2016

Wheat (€/t) : 2639 lots
LotsTypeStrikePrime
100Call Sep 161618.90
9Call Sep 161656.60
14Call Sep 161666.00 - 7.00
151Call Sep 161704.40 - 4.90
50Call Sep 161753.30
27Call Dec 161708.80
166Call Dec 161718.60
1Call Dec 161766.30
303Call Dec 161804.80
150Call Dec 161844.30
1Call Dec 161883.50
51Call Dec 161981.90
12Call Dec 162001.80
6Call Mar 1717410.90
67Call Mar 1717510.20 - 11.10
28Call Mar 1717610.50
500Call Mar 171808.50
14Call Mar 171954.50
500Call Mar 172003.20
1Call May 1717512.00
17Call May 1717711.70
2Call May 1717811.20
2Call May 172182.10
100Put Sep 161490.70
125Put Sep 161501.10
100Put Sep 161644.60
80Put Sep 161656.00
1Put Dec 161635.30
50Put Dec 161676.70
1Put Dec 161708.20
7Put Mar 171708.10
1Put May 1717510.00
2Put May 1717811.50
Corn (€/t) : 31 lots
LotsTypeStrikePrime
21Call Aug 161765.30 - 5.60
2Call Nov 161765.80
8Put Aug 161765.50
Rapeseed (€/t) : 605 lots
LotsTypeStrikePrime
2Call Aug 1634529.80
11Call Aug 1635027.00
103Call Aug 16352.523.50 - 23.90
1Call Aug 16357.519.00
7Call Aug 1636017.40
5Call Aug 16362.515.70 - 16.70
125Call Aug 1636513.00 - 14.50
13Call Aug 1637011.10 - 11.60
1Call Aug 16372.59.70
24Call Aug 163758.20 - 8.70
123Call Aug 16377.57.70
1Call Aug 163805.70
4Call Aug 16387.54.40
20Call Aug 164002.50
1Call Nov 1635527.00
15Call Nov 1636025.00
1Call Nov 1636520.70
3Call Nov 1637018.00 - 18.10
1Call Nov 16372.515.00
2Call Nov 1637515.30
34Call Nov 1638012.50 - 13.60
1Call Nov 163957.20
50Call Nov 164550.90
2Call Feb 17382.516.50
1Put Aug 163758.30
50Put Nov 163300.80
3Put Nov 163708.80
1Put Nov 1638013.90

Wheat (¢/b)
Jul 16481.2500-2.2500
Sep 16491.7500-2.2500
Dec 16508.5000-2.2500
Mar 17524.0000-2.5000
May 17533.7500-2.5000
Corn (¢/b)
Jul 16408.2500-0.2500
Sep 16410.5000-0.2500
Dec 16409.7500-0.5000
Mar 17416.5000-0.2500
May 17419.7500-1.0000
Soybean (¢/b)
Jul 161079.7500+0.0000
Aug 161077.2500+0.2500
Sep 161061.7500+1.2500
Nov 161050.5000+2.0000
Jan 171047.0000+2.5000
Soy meal ($/st)
Jul 16409.6000-4.0000
Aug 16393.1000-2.1000
Sep 16381.4000-0.3000
Oct 16374.9000+0.2000
Dec 16372.9000+0.1000
Soy oil (¢/lb)
Jul 1631.0400+0.2000
Aug 1631.1600+0.2200
Sep 1631.3000+0.2200
Oct 1631.4300+0.2200
Dec 1631.7300+0.1900

27/05/2016

Physical (€/t)
Durum 2015255.00+0.00
Wheat Delivered Rouen 2016159.00+2.00
Corn Fob Bordeaux 2015165.00+1.00
Corn Fob Rhin 2015164.00+1.00
Feed barley Delivered Rouen 2016144.00+3.00
Malting barley Fob Creil 2016177.00+0.00
Rapessed Fob Moselle - Flat376.00+2.00
Sunseed Delivered St Nazaire - Flat375.00+0.00
Feed peas Fob Creil 2016215.00+0.00
Analysis 27/05/2016

European market

The European Commission forecasts a wheat crop at 145.1 Mt for 2016/2017 against 142.8 Mt last month as weather conditions have remained mild for the last weeks in Europe. The Commission has revised upward its export estimations for 2016/2017 at 29 Mt against 27 last month. The carry-over stock for the next crop would be then 18.4 Mt against a number at 18.9 last month. To compare, on the crop 2015/2016, the production was 151.6 Mt, exports would be 30 Mt and the carry-over stock at the end of June 16 is forecasted at 17.5 Mt.

The Commission is anticipating a barley crop at 62.2 Mt and at 65.8 Mt for corn.

European wheat remains highly competitive on the international stage, especially the French origins, as confirmed by the new weekly export numbers with 740 000t of wheat certificates delivered by the European Union. Consequently, the total wheat exports are so far, for the season, at 28.2 Mt against 29.3 Mt last year at the same time of the year.

Corn were finding some supports yesterday in the slight increase of corn prices in Chicago even though feed producers are favoring wheat against corn in their formulations.

On rapeseed, prices were pretty stable and were hitting some resistance zones. The European Commission is revising upward its production forecasts at 22 Mt against 22.3 Mt last month.

Dollar remains pretty stable against the euro, as main operators are now expecting the next FED meeting and the English referendum of June 23rd.  

American market

Prices in Chicago increased quite considerably yesterday, thanks to continued export demand for the US commodities. However, the main short-term driver of this development is funds’ short covering just before a long weekend. Market will be closed in the US on Monday due to Memorial Day.

In order to justify these purchases, operators equally underline the competitiveness of wheat compared to corn at the feed producers while fundamentals remain rather heavy.

Yesterday, funds were net buyers of 7 000 lots of wheat and 12 000 lots of corn. They have sold net 6 000 lots of soybeans.

Export certificates outstripped expectations with respect to corn where 1.381 Mt have been exported while they met the beforehand expectations for soybeans. Export results for wheat were once more disappointing.

Black Sea market

The balance sheet for the barley campaign 2016/17 appears to be rather heavy in the Black Sea area, as indicated by the traders’ offers in forward contracts. They are willing to pay around 135 $/ (delivered to harbour) compared to 165 $/t for corn. So today, the spread between those two sums up to 30 $/t. The expected decrease of Chinese barley demand is heavily affecting this market which will now have to focus on Saudi-Arabia.

Given overall low prices levels, farmers hardly sign any contracts, hoping for better spot prices later on once the first volumes are harvested.

Live news

Strong rise of soybean in Chicago