Pre-opening 05/08/2020
Paris Chicago
Wheatunch+ 1 cent
Cornunch+ 2 cents
Rapeseedunch
Soybean+ 1 cent
Indexes 04/08/2020
€/$1.1765 $
Oil WTI41.70 $/b

Wheat (€/t)
Sep 20179.75+0.75
Dec 20180.25+0.75
Mar 21182.25+0.75
May 21184.00+1.00
Sep 21179.50+1.00
Corn (€/t)
Nov 20165.25-0.25
Jan 21168.00-0.75
Mar 21169.25+0.00
Jun 21172.50+1.50
Aug 21173.50-0.50
Rapeseed (€/t)
Nov 20382.00-1.75
Feb 21382.25-1.75
May 21382.00-1.50
Aug 21367.00-1.25
Nov 21369.00-1.00
Nitrogen solution (€/t)
Sep 20154.00+0.00
Nov 20154.00+0.00
Mar 21154.00+0.00
Jun 21154.00+0.00
Sep 21154.00+0.00

04/08/2020

Wheat (€/t) : 3706 lots
LotsTypeStrikePrime
50Call Sep 20181.002.00
1700Call Sep 20185.000.70 - 0.80
10Call Dec 20180.006.50
4Call Dec 20181.005.80
50Call Dec 20183.004.33
2Call Dec 20185.004.00
100Call Dec 20194.002.00
660Call Dec 20195.001.61
41Call Mar 21183.007.60
200Call Mar 21190.004.40
27Call Mar 21198.002.60
100Call Mar 21200.002.00
59Call May 21184.009.30
4Call May 21187.007.50
56Call May 21199.003.40
200Call Sep 21185.006.92
19Put Dec 20175.003.12
27Put Dec 20180.005.60
4Put Dec 20185.008.41
60Put Dec 20186.008.50 - 9.00
50Put Mar 21165.001.30
27Put Mar 21173.003.10
200Put Mar 21178.005.18
56Put May 21174.003.80
Corn (€/t) : 0 lots
LotsTypeStrikePrime
Rapeseed (€/t) : 790 lots
LotsTypeStrikePrime
54Call Nov 20380.009.50
100Call Nov 20390.004.55
50Call Nov 20405.002.22
4Call Feb 21385.009.50
200Call Feb 21400.006.01
32Call May 21385.0012.00
50Put Nov 20372.502.99
50Put Nov 20380.006.16
250Put Feb 21380.008.78

Wheat (¢/b)
Sep 20508.2500+3.0000
Dec 20516.5000+2.5000
Mar 21526.0000+2.0000
May 21532.2500+1.5000
Jul 21535.2500+2.0000
Corn (¢/b)
Sep 20308.2500+2.2500
Dec 20320.2500+1.7500
Mar 21332.2500+1.7500
May 21340.2500+2.0000
Jul 21347.2500+2.0000
Soybean (¢/b)
Aug 20883.7500-0.2500
Sep 20879.7500+1.7500
Nov 20881.7500+2.5000
Jan 21888.0000+2.5000
Mar 21888.7500+3.7500
Soy meal ($/st)
Aug 20283.7000+1.1000
Sep 20285.8000+1.2000
Oct 20287.8000+1.2000
Dec 20291.4000+1.2000
Jan 21292.9000+1.1000
Soy oil (¢/lb)
Aug 2031.5300-0.1200
Sep 2031.0500-0.1000
Oct 2030.9000-0.0200
Dec 2031.0500-0.0200
Jan 2131.2100-0.0200

05/08/2020

Physical (€/t)
Durum wheat delivered La Pallice Spot - July 2020 basis265.00+0.00
Wheat delivered Rouen - July 2020 basis180.00-1.00
Corn delivered Bordeaux Spot - July 2020 basis165.00+0.00
Corn FOB Rhin Spot - July 2020 basis169.00+0.00
Feed barley delivered Rouen - July 2020 basis162.00-1.00
Malting barley FOB Creil Spot - July 2020 basis173.00-1.00
Rapessed FOB Moselle Spot - Flat - 2020 harvest382.00+0.00
Sunseed delivered St Nazaire Spot - Flat - 2020 harvest340.00+0.00
Feed peas FOB Creil Spot - August 2020 basis210.00-2.00
Analysis 05/08/2020

European market

US markets are putting pressure on straw cereals, causing a fall in wheat prices on Euronext, with prices returning to their lowest levels for a month, around 180 €/t. Upward revisions in Russian production are among the factors weighing on prices. This is offsetting the poor European harvest that is sharply down compared to last year. The French harvest is estimated by Agritel at only 29.2 million tonnes, and the Romanian crop is disastrous, estimated at only 5.5 million tonnes by the Romanian Ministry of Agriculture. Traders are currently ignoring these factors.

Egypt is taking advantage of this downturn to launch a new wheat tender. Considering the current competitiveness of the wheat sourced from Black Sea, it is highly likely to see these origins retained. The high level of the Eurodollar remains a penalizing factor for France. The parity is posted this morning at 1.1820.

On the international market, Thailand has also launched a tender in 192 600 t of optional origins’ feed wheat and 107 700 t of feed barley sourced from Australia. Jordan is seeking 120 000 t of wheat.

The persistent water deficit in France continues to support corn prices, despite prospects of abundant harvests in Ukraine and in the US regardless the drop in acreage.

The rapeseed still benefits from the firmness of the palm and the rise in RME prices linked to a change in legislation about the Fame-10 incorporation.

American market

Prices for all commodities fell sharply in Chicago yesterday as good weather conditions are favouring soybean and corn crops. The US wheat, for its part, remains under pressure due to a disappointing export activity.

In soybean, the crop rating posted on Monday (73% as good to excellent) suggests a potential record harvest. The corn also benefits from recent days’ rainfall at the crucial stage of flowering.

Corn and soybean prices are testing new lows on the CBOT.

Yesterday, funds were net sellers in 32,500 lots of corn, 12,000 lots of soybeans and 10,500 lots of wheat.

Black Sea market

The Ukrainian association of grain exporters has evoked an all-crops production figure at 100 Mt and a record export volume of 61Mt.

The upward revision of the production estimate is due to an improved outlook for barley and corn, according to the association. The barley production has been revised upward from 7.6 Mt to 8.2 Mt for an export potential of 4.2 Mt. The corn production is expected to reach a record high at 38.9 Mt, raising an export potential of 33 Mt. The wheat production is left unchanged at 26.8Mt with an export potential of 18Mt.

Live news

The euro rebounds to 1.1820 against USD

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