Pre-opening 04/08/2021
Paris Chicago
Wheatunchanged at + 1 €+ 3 cents
Cornunchanged at + 1 €unchanged
Rapeseed+ 1 à + 2 €/t
Soybean+ 4 cents
Indexes 04/08/2021
€/$1.1861 $
Oil WTI70.56 $/b

Wheat (€/t)
Sep 21224.25-4.00
Dec 21227.75-2.25
Mar 22229.50-1.50
May 22230.50-1.25
Sep 22210.50-1.50
Corn (€/t)
Nov 21210.00-1.25
Jan 22211.50-1.25
Mar 22212.00-1.00
Jun 22213.50-1.00
Aug 22218.00+3.00
Rapeseed (€/t)
Nov 21533.25+5.25
Feb 22529.00+3.75
May 22524.50+3.25
Aug 22459.50+1.00
Nov 22459.25+1.25

04/08/2021

Wheat (€/t) : 4654 lots
LotsTypeStrike
1Call Sep 21207.00
1000Call Sep 21220.00
79Call Sep 21235.00
210Call Sep 21240.00
200Call Sep 21250.00
4Call Dec 21230.00
210Call Dec 21235.00
1Call Dec 21240.00
200Call Dec 21250.00
75Call Dec 21265.00
540Call Dec 21270.00
28Call Dec 21280.00
1000Call Dec 21290.00
61Call Mar 22232.00
61Call Mar 22260.00
50Call May 22238.00
100Call Sep 22225.00
10Call Dec 22225.00
200Put Sep 21220.00
100Put Sep 21224.00
50Put Sep 21227.00
201Put Dec 21207.00
5Put Dec 21212.00
2Put Dec 21213.00
4Put Dec 21215.00
100Put Dec 21220.00
1Put Mar 22204.00
61Put Mar 22217.00
100Put Sep 22205.00
Corn (€/t) : 400 lots
LotsTypeStrike
200Call Mar 22226.00
200Put Mar 22206.00
Rapeseed (€/t) : 1028 lots
LotsTypeStrike
20Call Nov 21570.00
500Call Feb 22540.00
1Call Aug 22460.00
1Call Aug 22500.00
3Call Nov 22460.00
3Call Nov 22500.00
500Put Feb 22490.00

Wheat (¢/b)
Sep 21724.5000-7.7500
Dec 21734.7500-6.5000
Mar 22742.7500-5.0000
May 22741.7500-3.2500
Jul 22715.5000-0.5000
Corn (¢/b)
Sep 21550.5000-2.2500
Dec 21551.7500-3.7500
Mar 22560.2500-4.2500
May 22565.0000-4.0000
Jul 22565.7500-3.7500
Soybean (¢/b)
Aug 211392.2500+11.2500
Sep 211323.7500+11.2500
Nov 211319.7500+7.2500
Jan 221325.2500+6.5000
Mar 221323.5000+6.0000
Soy meal ($/st)
Aug 21347.8000+6.2000
Sep 21347.5000+4.7000
Oct 21346.3000+5.0000
Dec 21349.7000+4.7000
Jan 22350.7000+4.3000
Soy oil (¢/lb)
Aug 2163.2700-0.5000
Sep 2162.4500-0.1400
Oct 2161.9800-0.2400
Dec 2161.8000-0.2800
Jan 2261.3500-0.3700

04/08/2021

Physical (€/t)
Durum wheat delivered La Pallice Spot - July 2021 basis320.00+10.00
Wheat delivered Rouen - July 2021 basis229.00+1.00
Corn delivered Bordeaux Spot - July 2021 basis213.00-2.00
Corn FOB Rhin Spot - July 2021 basis225.00+0.00
Feed barley delivered Rouen - July 2021 basis218.00+2.00
Malting barley FOB Creil Spot - July 2021 basis245.00+10.00
Rapessed FOB Moselle Spot - Flat - 2021 harvest533.00+1.00
Standard sunseed delivered St Nazaire Spot - Flat - 2021 harvest505.00+5.00
Feed peas FOB Creil Spot - August 2021 basis269.00+2.00

Events

  • Paris Grain Day 2022
    27-28 Jan
Analysis 04/08/2021

European market

The rains continue in France and raise concerns about the harvesting sites still to be carried out, both from a qualitative and quantitative point of view. In this context, wheat prices on Euronext, which are of milling wheat quality, remain on their highest levels, testing a resistance zone of 230 €/t. Different quotations are to be taken into account according to the qualities displayed, with different scales depending on whether it is the specific weight or the hagberg that is defective.

The supply in the 8 main exporting countries will be revised downwards in the next USDA report to take into account the poor yields observed on spring wheat in Russia and the situation also on spring wheat in the USA and Canada. In Argentina, while wheat planting is completed, there are already concerns about yield potential due to a water deficit.

On the international scene, Taiwan has purchased 55,000 t of corn from South Africa. Japan is buying just over 119,000 mt of milling wheat and Pakistan has launched a tender for 400,000 mt of milling wheat as well. Shipments are expected between September 15 and October 31.

As of August 1, the EU has exported 962,949 t of milling wheat this season, compared to 1.48 million t last year to date. Barley exports also started timidly at 785 644 t against 1.09 million last year.

On Euronext, the August corn deadline closes tomorrow and was posted last night on historical levels at 295 € / t.

Rapeseed continues to consolidate, thus disassociating itself a little from its rivals, soybeans and palm. In Canada, beneficial rains are also expected although late.

The dollar is little changed at 1.1874 against the euro and 72.93 against the ruble this morning. Oil is giving up some ground at 70.20 usd/barrel in New York.

 

American market

Soybean prices were down quite a bit yesterday amid favorable rains at the crucial flowering time and fears that the Biden administration will reconsider its biofuel policy in light of rising food prices.

Beyond all these considerations, the impact of a new covid wave also raises concerns about demand.

Wheat is stalling after the unexpected increase in crop rating this week on spring wheat, posted at 10% as good to excellent, a figure that remains extremely low.

Corn was losing some ground yesterday despite a 2-point drop in crop rating this week, against a backdrop of expected beneficial rains in the coming days.

Funds were net sellers yesterday on 9,000 lots of corn, 14,500 lots of soybeans and 3,000 lots of wheat.

 

Black Sea market

In the Black Sea basin, wheat prices are still increasing, especially following the progressive revision of yield estimates in Russia. Despite high prices, close to 260 usd/t fob for 11.5% protein, the demand for Black Sea origins is not weakening. It is also necessary to take into account the withholding of sales by Russian producers, unhappy with the taxes imposed on exports.

Live news

Harvesting does not resume