European market

Supported by the decline in the euro/dollar and by the enthusiasm of the Chicago market for much of the past week, the grains on Euronext then changed their direction at the end of last week. The momentum linked to the US-China trade deal dissipated, while the euro/dollar neared 1.1600 on Friday.
While wheat and corn closed lower on all Euronext contracts, rapeseed was able to recover with the support of soybeans on Chicago.
In general, the focus is still on the international scene. The dynamics of European wheat exports are just as closely monitored as that of corn imports. Feed barley is not left out, with a notable demand for Western Europe origins this autumn.
According to FranceAgriMer's grain report published on Friday, November 3 in France, 98% of winter barley is in conditions judged as good to very good and this against 87% last year to date.
The grain corn harvest reaches 90% in France against 83% on 5 years average .

American market

After the firmness and then the correction observed last week, the US market should enter a wait-and-see mode throughout this new week. The market is waiting for this Friday's, November 14, the next USDA WASDE report. It's been two months since the USDA delivered the last one. There are many expectations, in particular on the yields of US corn and soybeans, as well as in terms of forecast demand for US balance sheets.
Beyond the funds, it is also the US farmers who have been able to secure some profit during the latest market up movements. The market is looking to consolidate, like soybeans, which were able to close higher on Friday evening in Chicago. Even if the purchases of US soybeans by China are slow to develop, the market was reassured by observing that the exporters CHS, Louis Dreyfus or EGT had their authorization to export US soybeans to China.
South America's supply is still in focus. And this, both in terms of the climatic conditions that are optimal for sowing and soybeans and corn emergency in Brazil and Argentina, and in terms of exports that are always very dynamic on these two products.

Black Sea market

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