Pre-opening 30/09/2016
Paris Chicago
Wheatunchunch
Cornunchunch
Rapeseed-1 €
Soybean-4 cents
Indexes 29/09/2016
€/$1.1221 $
Oil WTI47.83 $/b

Wheat (€/t)
Dec 16161.75-1.25
Mar 17166.75-0.50
May 17169.50-0.50
Sep 17170.75-0.50
Dec 17173.25-0.25
Corn (€/t)
Nov 16160.50-0.25
Jan 17163.00+0.25
Mar 17164.75+0.00
Jun 17167.50+0.00
Aug 17170.75-0.25
Rapeseed (€/t)
Nov 16376.75-1.00
Feb 17377.00-0.25
May 17375.50-0.50
Aug 17361.25-0.75
Nov 17362.75-0.50

29/09/2016

Wheat (€/t) : 2772 lots
LotsTypeStrikePrime
1Call Dec 161614.80
460Call Dec 161682.12
100Call Dec 161691.85
200Call Dec 161701.62
502Call Mar 171677.50
500Call Mar 171803.06
2Call May 171699.30
5Call May 171709.00
200Call May 171903.04
300Put Dec 161582.78
2Put Dec 1617012.40
500Put Mar 171552.62
Corn (€/t) : 40 lots
LotsTypeStrikePrime
20Call Jan 171800.70
20Put Jan 171603.50
Rapeseed (€/t) : 320 lots
LotsTypeStrikePrime
4Call Nov 16362.512.90
200Call Nov 163753.60
50Call Nov 164000.20
20Call Feb 17377.58.20
1Call Feb 173808.52
2Call May 1736020.70
5Call May 1737513.40
16Call Aug 1736014.50 - 15.20
11Call Aug 17362.514.50
3Call Aug 1736512.88
5Put Nov 163805.42
3Put Aug 17307.51.00

Wheat EU (€/t)
Dec 16163.5000-0.2500
Mar 17166.0000-0.2500
May 17168.7500-0.7500
Sep 17170.0000-1.0000
Dec 17172.5000-1.0000
Wheat (¢/b)
Dec 16399.0000+3.0000
Mar 17421.7500+2.7500
May 17435.5000+1.7500
Jul 17446.2500+0.7500
Sep 17460.0000+1.7500
Corn (¢/b)
Dec 16329.2500+7.0000
Mar 17339.0000+7.2500
May 17346.0000+7.0000
Jul 17353.0000+6.7500
Sep 17360.0000+6.5000
Soybean (¢/b)
Nov 16950.2500+3.2500
Jan 17956.2500+2.0000
Mar 17963.0000+2.0000
May 17969.5000+0.7500
Jul 17974.7500+1.0000
Soy meal ($/st)
Oct 16297.9000-0.3000
Dec 16298.7000+1.4000
Jan 17299.8000+0.9000
Mar 17301.8000+0.7000
May 17303.5000+0.9000
Soy oil (¢/lb)
Oct 1633.0900+0.0200
Dec 1633.3400-0.0300
Jan 1733.5800-0.0600
Mar 1733.8300-0.0800
May 1734.0000-0.0900

30/09/2016

Physical (€/t)
Durum 2015225.00+0.00
Wheat Delivered Rouen 2016161.00+0.00
Corn Fob Bordeaux 2015159.00+0.00
Corn Fob Rhin 2015154.00+1.00
Feed barley Delivered Rouen 2016132.00+0.00
Malting barley Fob Creil 2016184.00+0.00
Rapessed Fob Moselle - Flat378.00+3.00
Sunseed Delivered St Nazaire - Flat365.00+5.00
Feed peas Fob Creil 2016220.00+0.00
Analysis 30/09/2016

European market

Wheat export licenses granted by Brussels this week gained momentum, despite of the stiff competition from Russian and Ukrainian origins, recording a level of 468 032 t for an aggregate of 6.35 Mt since the start of the campaign. In barley, licenses are in small evolution with a seasonal aggregate of 1.2 Mt.

Unsurprisingly, while world demand remains sustained, IGC has confirmed the European decline betting on a total of 25.2 Mt for export to third countries of soft wheat I.e. -25% from last campaign. Despite of the drop for outlets, the reduction of output volumes is leading to a report stock in diminution by -34%, i.e. more than 3 Mt, at 10.6 Mt.

After first harvest of corn, the situation in Europe looks very different compared to the US or Ukrainian one. In these two countries, volumes are expected in sharp rise compared to last season. IGC has revised up the perspectives of world output that should exceed 1.02 billion of tonnes.

Cereals were in small progress on Euronext yesterday and rapeseed prices were up by +3 €/t on front contract, erasing the drop of the beginning of the week.

American market

Prices were in little evolution in Chicago, traders are now expecting the new estimations from USDA for quarterly report about US stocks. Business should remain subdued until there and limited to positions adjustments.

Concerning export sales, soybean marked a further progression in the week, with a volume of 1.69 Mt, which is over traders’ expectations. From the start of the season, aggregate export volume is now exceeding the level of 2013-14 and is close to the record season of 2014-15. New sales to China have been reported, supporting the market.

Corn export data have been disappointed with only 575 000 t, well under expectations. Despite of low prices, the market is slowing down from the beginning of the month. However, in the context of a bumper harvest, volumes already sold are close to highest levels of these last ten years with more than 18 Mt sold, which represent 1/3 of the target of 55 Mt for 2016-17.

Black Sea market

The majority of operators remember last year dry conditions, which impacted Ukrainian wheat, so they had to lose part of their wheat harvest. What about current year wheat sowing works? By the end of last week, near 1,7 Mha or 27% of forecast acreages is sown (last year 2.1 Mha on this date). Indeed, this year is seen a delay in sowing by 20% compared to last year. Authorities forecasts for wheat sowing acreage at 6,2 Mha, last year was expected 6,0.


On the other side, Russian farmers keep last year pace of winter grain planting. Sowing of winter crops for the harvest-2017 done in the area of 11.1 million hectares or 64% of the target area (in 2015 - 11.2 million ha.). Official forecast of wheat sowing acreage is a bit higher than last year at 17 Mha (16,9 Mha in 2015).

Live news

Pending quarterly USDA report