Pre-opening 18/09/2020
Paris Chicago
Wheat+ 1 €+ 6 cents
Corn+ 1 €+ 3 cents
Rapeseed+ 1 to + 2 €
Soybean+ 13 cents
Indexes 18/09/2020
€/$1.1833 $
Oil WTI41.11 $/b

Wheat (€/t)
Dec 20191.75+2.75
Mar 21192.00+2.50
May 21192.50+2.50
Sep 21183.50+2.50
Dec 21186.25+2.50
Corn (€/t)
Nov 20171.50+0.25
Jan 21173.25+0.00
Mar 21175.50+0.75
Jun 21177.25+0.50
Aug 21179.00+0.25
Rapeseed (€/t)
Nov 20395.00+2.50
Feb 21397.25+2.25
May 21396.50+2.00
Aug 21380.50+0.50
Nov 21383.25+0.75
Nitrogen solution (€/t)
Nov 20157.00+0.00
Mar 21157.00+0.00
Jun 21157.00+0.00
Sep 21157.00+0.00
Nov 21157.00+0.00

17/09/2020

Wheat (€/t) : 3662 lots
LotsTypeStrike
5Call Dec 20185.00
50Call Dec 20186.00
3Call Dec 20188.00
100Call Dec 20190.00
500Call Dec 20195.00
400Call Mar 21190.00
700Call Mar 21198.00
30Call Mar 21199.00
200Call Mar 21200.00
100Call Dec 21185.00
100Call Dec 21197.00
40Put Dec 20180.00
500Put Dec 20188.00
300Put Dec 20189.00
200Put Mar 21180.00
300Put Mar 21186.00
30Put Mar 21189.00
4Put Mar 21190.00
100Put Dec 21185.00
Corn (€/t) : 253 lots
LotsTypeStrike
3Call Nov 20169.00
150Call Jan 21180.00
50Put Mar 21155.00
50Put Mar 21174.00
Rapeseed (€/t) : 599 lots
LotsTypeStrike
6Call Nov 20370.00
5Call Nov 20385.00
1Call Feb 21392.50
18Call Feb 21397.50
50Call Feb 21400.00
1Call Feb 21405.00
17Call Feb 21410.00
2Call May 21395.00
2Call May 21397.50
10Call May 21425.00
30Call May 21450.00
250Call Aug 21390.00
100Call Aug 21392.50
40Put Nov 20390.00
50Put Nov 20392.50
17Put Feb 21385.00

Wheat (¢/b)
Dec 20575.0000+21.0000
Mar 21582.7500+20.7500
May 21586.7500+20.0000
Jul 21582.7500+17.2500
Sep 21586.7500+16.0000
Corn (¢/b)
Dec 20378.5000+3.0000
Mar 21387.5000+3.7500
May 21392.7500+4.0000
Jul 21395.5000+3.7500
Sep 21388.2500+3.5000
Soybean (¢/b)
Nov 201043.5000+15.2500
Jan 211047.2500+15.7500
Mar 211038.0000+13.5000
May 211030.5000+11.0000
Jul 211030.2500+9.5000
Soy meal ($/st)
Oct 20337.4000+6.9000
Dec 20342.1000+6.8000
Jan 21342.4000+6.6000
Mar 21339.1000+5.7000
May 21335.1000+4.5000
Soy oil (¢/lb)
Oct 2035.2300+0.3200
Dec 2035.1400+0.2900
Jan 2135.1200+0.1900
Mar 2135.0700+0.0700
May 2135.0500-0.0300

18/09/2020

Physical (€/t)
Durum wheat delivered La Pallice Spot - July 2020 basis255.00+0.00
Wheat delivered Rouen - July 2020 basis189.00+2.00
Corn delivered Bordeaux Spot - July 2020 basis173.00+2.00
Corn FOB Rhin Spot - July 2020 basis172.00+2.00
Feed barley delivered Rouen - July 2020 basis171.00+2.00
Malting barley FOB Creil Spot - July 2020 basis177.00+2.00
Rapessed FOB Moselle Spot - Flat - 2020 harvest397.00+0.00
Sunseed delivered St Nazaire Spot - Flat - 2020 harvest405.00+10.00
Feed peas FOB Creil Spot - August 2020 basis228.00+3.00
Analysis 18/09/2020

European market

Trend reversal on cereals yesterday with a sharp rebound in prices. The oilseeds could be also concerned by this better orientation today.

The Chinese demand is boosting the US markets, which is having a positive influence on the European markets. However, a poor export activity, especially in France, is not supporting the move. China has confirmed its tariff-reduced import quotas at the same level as last year, i.e. 9,636 Mt of wheat and 7,2 Mt of corn.

The persisting hydric deficit in Europe and Black Sea is still raising concerns for autumn plantings, especially for early regions as Ukraine or Russia.

On the international stage, 260 000 t of US soybean have been sold to China yesterday. USA sold also 360 500 t of soybean to undisclosed destination. On its side, Japan bought 104 870 t of US, Canadian or Australian wheat.

In oilseeds, canola, soybean and palm prices increased yesterday. The rapeseed experienced profit takings after the surge seen at the beginning of the week and stayed away from this trend. This morning prices are again progressing on the whole vegetable oils complex.

The euro is rebounding this morning to 1.1850 against the US dollar and oil is dealing above 40 US dollars/barrel at 41.10 in New York.

American market

Sharp rebound in prices in Chicago last night. The soybean is the main driver of this upward trend. On this product, a buoyant export activity to China is explaining the move, but the bullish trend of other products (wheat, corn) is less easy to justify. Indeed, China has not increased its reduced-tariffs import quotas for the current season. In addition, US wheat exports for this week were at the low end of traders' expectations, at only 336,000 t.

In corn, export sales were inside the expectations’ range at 1.609 Mt and the figure in soybean is still showing the current high momentum of sales at 2.457 Mt.

Yesterday, funds were net buyers in 12 500 lots of corn, 15 500 lots of soybean and 12 000 lots of wheat.

Donald Trump announced yesterday an exceptional $13 billion aid package for the US farmers to compensate for the Covid-19 crisis. This exceptional aid will be directed more specifically towards producers of raw and processed dairy products.

Black Sea market

The upward movement observed in grain and oilseed prices in the Black Sea region continues. During yesterday's day, this rise was concerning all products, all of which posted a new high since the beginning of the campaign!

For example, Odessa CPT wheat was trading at USD 215/t for the 11.5%, the corn at USD 177/t and the barley at USD 182/t.

Sunflower seed is dealing, factory-delivered, at USD 515/t (20% VAT included), while soybean is trading over USD 400/t, port-delivered.

Live news

Trump grants a $13 billion exceptional aid to US farmers

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