Pre-opening 26/05/2023
Paris Chicago
Wheatunch to +1 €+5 cents
Cornunch to +1 €+2 cents
Rapeseed+2 to +4 €
Soybean+5 cents
Indexes 26/05/2023
€/$1,0751 $
Oil WTI72,67 $/b

Wheat (€/t)
Sept. 23228,25+6,00
Déc. 23233,00+5,25
Mars 24237,00+5,25
Mai 24240,75+6,00
Sept. 24237,25+6,00
Corn (€/t)
Juin 23220,75+2,00
Août 23219,00+4,50
Nov. 23219,75+4,75
Mars 24222,00+3,75
Juin 24223,50+3,50
Rapeseed (€/t)
Août 23411,25+4,25
Nov. 23417,50+4,00
Févr. 24424,00+4,25
Mai 24426,50+4,50
Août 24422,75+4,50


Wheat (€/t) : 27211 lots
2Call Sept. 23225,00
1Call Sept. 23226,00
10540Call Sept. 23240,00
75Call Sept. 23260,00
100Call Sept. 23270,00
10540Call Sept. 23275,00
225Call Sept. 23280,00
1Call Déc. 23230,00
16Call Déc. 23235,00
3Call Déc. 23238,00
300Call Déc. 23240,00
50Call Déc. 23245,00
21Call Déc. 23250,00
300Call Déc. 23260,00
300Call Déc. 23280,00
20Call Mars 24235,00
2000Call Mars 24300,00
2Call Mai 24232,00
2Call Mai 24236,00
20Call Mai 24239,00
40Call Mai 24260,00
40Call Mai 24300,00
6Call Déc. 24270,00
300Put Sept. 23210,00
200Put Sept. 23215,00
700Put Sept. 23230,00
500Put Sept. 23320,00
300Put Déc. 23215,00
50Put Déc. 23225,00
10Put Déc. 23280,00
500Put Déc. 23340,00
1Put Mars 24230,00
40Put Mai 24200,00
6Put Déc. 24230,00
Corn (€/t) : 1 lots
1Put Nov. 23185,00
Rapeseed (€/t) : 266 lots
2Call Août 23412,50
50Call Août 23430,00
40Call Août 23450,00
20Call Août 23460,00
60Call Août 23480,00
3Call Nov. 23445,00
50Put Août 23350,00
1Put Août 23392,50
20Put Nov. 23370,00
20Put Nov. 23380,00

Wheat (¢/b)
Juil. 23616,0000+12,7500
Sept. 23629,5000+13,2500
Déc. 23647,5000+13,2500
Mars 24661,2500+11,5000
Mai 24668,5000+11,2500
Corn (¢/b)
Juil. 23604,0000+14,2500
Sept. 23529,0000+18,5000
Déc. 23534,5000+18,5000
Mars 24543,2500+17,7500
Mai 24548,0000+17,0000
Soybean (¢/b)
Juil. 231337,2500+12,2500
Août 231261,0000+10,7500
Sept. 231198,5000+14,0000
Nov. 231189,5000+16,2500
Janv. 241199,0000+14,0000
Soy meal ($/st)
Juil. 23402,2000-1,2000
Août 23397,9000-1,2000
Sept. 23388,4000-1,3000
Oct. 23378,4000-0,8000
Déc. 23375,9000-1,5000
Soy oil (¢/lb)
Juil. 2348,8200+0,1200
Août 2348,8900+0,0900
Sept. 2348,7800+0,0700
Oct. 2348,5900+0,0500
Déc. 2348,5300+0,0400


Physical (€/t)
You can now find the prices for the Wheat delivered Rouen - (July basis) in the Argus AgriMarkets report
Durum wheat delivered La Pallice Spot - July 2023 basis365,00+0,00
Corn delivered Bordeaux Spot - July 2022 basis227,00+0,00
Corn FOB Rhin Spot - July 2022 basis215,00+0,00
Feed barley delivered Rouen - July 2023 basis207,00-2,00
Malting barley FOB Creil Spot - July 2023 basis255,00+0,00
Rapessed FOB Moselle Spot - Flat - 2023 harvest407,00+8,00
Oleic sunseed delivered St Nazaire Spot - Flat - 2023 harvest420,00+0,00
Feed peas FOB Creil Spot - August 2022 basis265,00+0,00


Analysis 26/05/2023

European market

Cereals markets were mixed yesterday, torn between a lack of export activity and a persistently tense situation in the Black Sea basin. Russia is threatening not to extend the corridor beyond the 2 months recently agreed. Russia is also sending nuclear missiles into Belarus.

On the international scene, traders are noting a payment delay by Egypt for cereal imports.

India could see a record wheat harvest this year, according to its Minister of Agriculture, at 112.7 Mt. In Ukraine, spring plantings are now almost complete. Cereals acreage is expected to be down on last year, but up for oilseeds.

Rapeseed is bouncing back in the wake of palm oil. Also the market is finding support from EU's possible reaction over the recent months massive imports of biodiesel, which are destabilising our markets. Palm production in Malaysia could be affected in the coming months if the El Nino effect continues. Canola fell back again yesterday, with 68% of the area sown in the province of Saskatchewan, compared with an average of 76% to date.

The euro is trading at 1.0740 against the usd this morning, and the rouble at 80.25. Oil edged down to 71.70 usd a barrel in NY.

American market

Prices eased slightly in Chicago yesterday amid disappointing weekly export sales figures. In new crop terms, export sales amounted to 245,100 t of wheat, 52,100 t of maize and just 1,100 t of soybeans. The rise in the dollar is also a negative factor for the export competitiveness of US origins.

However, corn is finding support from low rainfall over much of the Corn Belt. At this stage, this situation is not a major cause for concern, but could become so if it persists.

Note that the US markets will be closed on Monday. This could lead to some short covering today before a long 3-day weekend.

Yesterday, funds were net sellers in 2,000 lots of corn and 3,000 lots of soybeans. They were neutral on wheat.

Black Sea market

Request access to the full daily report on the Black Sea Basin via the Argus AgriMarkets service by clicking here.

Live news

New tensions in the Black Sea region