|Wheat||unchanged||- 1 cent|
|Corn||unchanged||- 1 cent|
|Soybean||+ 4 cents|
|Oil WTI||49.48 $/b|
|Wheat (€/t) : 2639 lots|
|100||Call Sep 16||161||8.90|
|9||Call Sep 16||165||6.60|
|14||Call Sep 16||166||6.00 - 7.00|
|151||Call Sep 16||170||4.40 - 4.90|
|50||Call Sep 16||175||3.30|
|27||Call Dec 16||170||8.80|
|166||Call Dec 16||171||8.60|
|1||Call Dec 16||176||6.30|
|303||Call Dec 16||180||4.80|
|150||Call Dec 16||184||4.30|
|1||Call Dec 16||188||3.50|
|51||Call Dec 16||198||1.90|
|12||Call Dec 16||200||1.80|
|6||Call Mar 17||174||10.90|
|67||Call Mar 17||175||10.20 - 11.10|
|28||Call Mar 17||176||10.50|
|500||Call Mar 17||180||8.50|
|14||Call Mar 17||195||4.50|
|500||Call Mar 17||200||3.20|
|1||Call May 17||175||12.00|
|17||Call May 17||177||11.70|
|2||Call May 17||178||11.20|
|2||Call May 17||218||2.10|
|100||Put Sep 16||149||0.70|
|125||Put Sep 16||150||1.10|
|100||Put Sep 16||164||4.60|
|80||Put Sep 16||165||6.00|
|1||Put Dec 16||163||5.30|
|50||Put Dec 16||167||6.70|
|1||Put Dec 16||170||8.20|
|7||Put Mar 17||170||8.10|
|1||Put May 17||175||10.00|
|2||Put May 17||178||11.50|
|Corn (€/t) : 31 lots|
|21||Call Aug 16||176||5.30 - 5.60|
|2||Call Nov 16||176||5.80|
|8||Put Aug 16||176||5.50|
|Rapeseed (€/t) : 605 lots|
|2||Call Aug 16||345||29.80|
|11||Call Aug 16||350||27.00|
|103||Call Aug 16||352.5||23.50 - 23.90|
|1||Call Aug 16||357.5||19.00|
|7||Call Aug 16||360||17.40|
|5||Call Aug 16||362.5||15.70 - 16.70|
|125||Call Aug 16||365||13.00 - 14.50|
|13||Call Aug 16||370||11.10 - 11.60|
|1||Call Aug 16||372.5||9.70|
|24||Call Aug 16||375||8.20 - 8.70|
|123||Call Aug 16||377.5||7.70|
|1||Call Aug 16||380||5.70|
|4||Call Aug 16||387.5||4.40|
|20||Call Aug 16||400||2.50|
|1||Call Nov 16||355||27.00|
|15||Call Nov 16||360||25.00|
|1||Call Nov 16||365||20.70|
|3||Call Nov 16||370||18.00 - 18.10|
|1||Call Nov 16||372.5||15.00|
|2||Call Nov 16||375||15.30|
|34||Call Nov 16||380||12.50 - 13.60|
|1||Call Nov 16||395||7.20|
|50||Call Nov 16||455||0.90|
|2||Call Feb 17||382.5||16.50|
|1||Put Aug 16||375||8.30|
|50||Put Nov 16||330||0.80|
|3||Put Nov 16||370||8.80|
|1||Put Nov 16||380||13.90|
|Soy meal ($/st)|
|Soy oil (¢/lb)|
|Wheat Delivered Rouen 2016||159.00||+2.00|
|Corn Fob Bordeaux 2015||165.00||+1.00|
|Corn Fob Rhin 2015||164.00||+1.00|
|Feed barley Delivered Rouen 2016||144.00||+3.00|
|Malting barley Fob Creil 2016||177.00||+0.00|
|Rapessed Fob Moselle - Flat||376.00||+2.00|
|Sunseed Delivered St Nazaire - Flat||375.00||+0.00|
|Feed peas Fob Creil 2016||215.00||+0.00|
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.
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.