Pre-opening 23/02/2018
Paris Chicago
Wheatunch.+ 2 cents
Cornunch.+ 1 cent
Rapeseedunch.
Soybean+ 2 cents
Indexes 22/02/2018
€/$1.2276 $
Oil WTI62.77 $/b

Wheat (€/t)
Mar 18161.75+1.50
May 18163.50+1.00
Sep 18168.00+0.50
Dec 18171.75+0.25
Mar 19174.50+0.25
Corn (€/t)
Mar 18153.25+0.00
Jun 18160.00+0.75
Aug 18167.25+0.25
Nov 18167.00+0.25
Jan 19169.00+0.00
Rapeseed (€/t)
May 18353.50+2.75
Aug 18350.25+2.50
Nov 18353.25+2.75
Feb 19357.25+2.25
May 19359.25+2.00
Nitrogen solution (€/t)
Jun 18140.00-1.00
Sep 18145.00-5.00
Nov 18152.00-12.00
Mar 19161.00-16.00
Jun 19138.00-3.00

22/02/2018

Wheat (€/t) : 3915 lots
LotsTypeStrikePrime
1Call May 181605.40
93Call May 181634.00 - 4.50
9Call May 181643.00 - 3.40
505Call May 181652.70
5Call May 181662.30
5Call May 181672.10
500Call May 181682.00
1Call Sep 181677.50
16Call Sep 181687.10
10Call Dec 181718.80
100Call Dec 181805.87
260Call Mar 191749.37
500Put May 181581.26
500Put May 181601.99
500Put May 181633.36
180Put May 181675.78
10Put Sep 181655.41
100Put Dec 181603.50
100Put Dec 181718.34
520Put Mar 191675.47
Corn (€/t) : 70 lots
LotsTypeStrikePrime
50Call Jun 181594.00
20Call Jun 181613.50
Rapeseed (€/t) : 351 lots
LotsTypeStrikePrime
1Call Aug 183509.50
20Call Aug 183702.90
100Call Nov 1835012.79
100Call Nov 183656.71
30Put Aug 183404.20
100Put Nov 183457.23

Wheat EU (€/t)
Mar 18164.7500+0.2500
May 18168.7500+1.5000
Sep 18168.0000+1.5000
Dec 18172.0000+1.5000
Mar 19173.5000+1.5000
Wheat (¢/b)
Mar 18451.2500+0.7500
May 18464.2500-0.2500
Jul 18479.0000-0.5000
Sep 18495.2500-0.2500
Dec 18516.2500+0.0000
Corn (¢/b)
Mar 18366.7500-0.5000
May 18374.7500+0.0000
Jul 18382.5000-0.2500
Sep 18389.5000-0.5000
Dec 18397.2500-0.2500
Soybean (¢/b)
Mar 181032.0000+5.0000
May 181043.2500+4.7500
Jul 181052.5000+4.2500
Aug 181053.0000+3.5000
Sep 181038.5000+1.2500
Soy meal ($/st)
Mar 18376.9000-1.5000
May 18379.6000-1.3000
Jul 18379.1000-1.4000
Aug 18374.6000-1.1000
Sep 18370.6000-0.9000
Soy oil (¢/lb)
Mar 1832.0400+0.2400
May 1832.2500+0.2400
Jul 1832.4100+0.2500
Aug 1832.4900+0.2500
Sep 1832.5800+0.2600

23/02/2018

Physical (€/t)
Durum wheat delivered Port la Nouvelle Spot - July 2017 basis200.00+0.00
Wheat delivered Rouen - July 2017 basis156.50+0.50
Corn delivered Bordeaux Spot - July 2017 basis150.00+0.00
Corn FOB Rhin Spot - July 2017 basis159.00+0.00
Feed barley delivered Rouen - July 2017 basis160.50+0.50
Malting barley FOB Creil Spot - July 2017 basis189.00+0.00
Rapessed FOB Moselle Spot - Flat - 2017 harvest354.00-1.00
Sunseed delivered St Nazaire Spot - Flat - 2017 harvest315.00+0.00
Feed peas FOB Creil Spot - August 2017 basis175.00+0.00
Analysis 23/02/2018

European market

Only few evolutions on the markets yesterday in a context of abundant global availabilities for the current campaign in all agricultural commodities.

However, the world outlook for the 2018 campaign is showing a possible reduction of stocks, resulting from a stable production in face of a rising demand.

Nevertheless, balance sheet forecasts at this time of the year are still remaining unclear since the weather forecasts beyond 10 days are not totally reliable.

According to the IGC, the world production of corn in 2017/2018  should be revised down by -6 Mt to 1.048 billion, mainly due to a downward revision of the production in the South American continent. World wheat production for this season is seen unchanged at 757 Mt.

On the other side of the Atlantic, the USDA surprisingly displayed a slight increase in US wheat acreage for the 2018 crop at 46.5 million acres compared to 46 million in 2017. For soybean and corn, the expected area is displayed at 90 million acres each.

On the international stage, Tunisia bought 75 000 t of wheat and 25 000 t of barley from optional origins. It is to note that the global balance sheet for feed barley remains very tight.

Weekly wheat exports have been displayed at 135 000 t or 13 Mt from the beginning of the campaign, compared to 16.1 Mt last year to date. In such circumstances, it is difficult to imagine that the export targets for the current campaign will not be revised down in coming weeks.

Regarding oilseeds, the drought in Argentina is allowing soybean prices to remain steady while the palmoil production was displayed above expectations. Rapeseed prices were unchanged yesterday.

American market

Slight increase of wheat prices in Chicago yesterday, mainly caused by some buying orders from the funds.

Corn and soybean were little changed, perspectives of corn and soybean plantings for the next campaign were in line with traders’ expectations at 90 million acres for both crops.

Yesterday, funds were net buyers in 3 000 lots of wheat, 7 000 lots of corn. They were net sellers in 5 500 lots of soybean.

Bolsa de Buenos Aires is now expecting a soybean harvest of 47 Mt in Argentina, this should not allow further increase of soybean prices beyond current levels as a bumper harvest is expected in Brazil.

Black Sea market

As of February 20, Ukrainian grain exports reached 25.89 Mt according to authorities. Wheat exports reached 12.7 Mt since the start of the campaign, a pace 4% behind last year’s. Regarding barley, exports are displayed at 4 Mt or -10% compared to last year. For the corn, exports amounted to 9.1 Mt. Corn sales are also registering a significant delay of -14% in comparison to the last campaign. Therefore, the USDA target of 20 Mt for Ukrainian corn seems ambitious compared to estimates of Agritel's analysts in Kiyv.

Live news

USDA estimates plantings of soybean and corn at 90 miilion acres