Pre-opening 23/05/2022
Paris Chicago
Wheat+ 1 to + 2 €+ 12 cents
Corn+ 1 to + 2 €+ 4 cents
Rapeseed+ 5 € around
Soybean+ 6 cents
Indexes 23/05/2022
€/$1,0659 $
Oil WTI113,23 $/b

Wheat (€/t)
Sept. 22426,00+5,25
Déc. 22418,50+4,50
Mars 23414,75+4,50
Mai 23410,50+4,75
Sept. 23346,50+3,75
Corn (€/t)
Juin 22364,00+3,75
Août 22369,75+5,00
Nov. 22368,50+4,00
Mars 23368,25+4,25
Juin 23368,75+3,75
Rapeseed (€/t)
Août 22821,00-9,00
Nov. 22814,00-7,00
Févr. 23801,25-5,25
Mai 23796,00-5,00
Août 23703,50-11,50

20/05/2022

Wheat (€/t) : 6580 lots
LotsTypeStrike
250Call Sept. 22390,00
5Call Sept. 22425,00
100Call Sept. 22430,00
500Call Sept. 22450,00
1350Call Sept. 22500,00
5Call Déc. 22420,00
100Call Déc. 22429,00
200Call Déc. 22470,00
500Call Mars 23410,00
400Call Mars 23420,00
500Call Mars 23460,00
300Call Mars 23490,00
100Call Mars 23500,00
200Call Mai 23415,00
100Call Mai 23420,00
200Call Mai 23485,00
100Call Mai 23500,00
500Put Sept. 22365,00
100Put Sept. 22410,00
4Put Sept. 22420,00
60Put Déc. 22385,00
300Put Déc. 22400,00
6Put Déc. 22412,00
100Put Mars 23363,00
300Put Mars 23370,00
100Put Mai 23355,00
200Put Mai 23365,00
Corn (€/t) : 0 lots
LotsTypeStrike
Rapeseed (€/t) : 21 lots
LotsTypeStrike
20Call Août 22850,00
1Put Nov. 22787,50

Wheat (¢/b)
Juil. 221168,7500+24,5000
Sept. 221174,5000+26,5000
Déc. 221179,2500+28,0000
Mars 231180,0000+28,2500
Mai 231166,0000+27,7500
Corn (¢/b)
Juil. 22778,7500+7,2500
Sept. 22747,0000+7,2500
Déc. 22732,0000+6,2500
Mars 23735,5000+5,5000
Mai 23735,0000+5,2500
Soybean (¢/b)
Juil. 221705,2500-18,0000
Août 221641,7500-13,0000
Sept. 221567,0000-9,7500
Nov. 221521,7500-5,5000
Janv. 231524,2500-5,2500
Soy meal ($/st)
Juil. 22429,9000-6,7000
Août 22424,2000-5,9000
Sept. 22417,5000-5,6000
Oct. 22409,9000-4,4000
Déc. 22410,3000-4,5000
Soy oil (¢/lb)
Juil. 2280,9300-0,3900
Août 2277,9900-0,0500
Sept. 2276,2600+0,0700
Oct. 2274,8700+0,2400
Déc. 2274,2700+0,3400

23/05/2022

Physical (€/t)
Durum wheat delivered La Pallice Spot - July 2022 basis515,00+5,00
Wheat delivered Rouen - July 2022 basis419,00-2,00
Corn delivered Bordeaux Spot - July 2021 basis357,00-3,00
Corn FOB Rhin Spot - July 2021 basis345,00-5,00
Feed barley delivered Rouen - July 2022 basis388,00-3,00
Malting barley FOB Creil Spot - July 2022 basis475,00+10,00
Rapessed FOB Moselle Spot - Flat - 2022 harvest840,00+5,00
Oleic sunseed delivered St Nazaire Spot - Flat - 2022 harvest995,00+5,00
Feed peas FOB Creil Spot - August 2022 basis445,00-5,00
Analysis 23/05/2022

European market

Last week was marked by a prices' decline in all agricultural commodities. This downturn is essentially due to the so-called technical correction, after the rise of  last few months. In France, the current storms are welcome, but do not prevent the risk of a drop in production, due to heterogeneity. Prices will be influenced mainly by the situation in Ukraine, where about 20 Mt of grains are blocked and cannot be supplied to the world market.

On the international scene, Jordan is officially buying 120,000 t of feed barley.

According to its agriculture minister, Ukraine could sow 190,000 ha of spring wheat, 900,000 ha of spring barley and 3.9 M ha of corn this year. This would represent about 25% less spring area than last year.

Given the persistent water deficit in France, FranceAgrimer said that only 73% of winter wheat was rated as good to excellent, compared to 82% the previous week and 89% a fortnight ago. In winter barley, the crop rating is also down to 71% and in spring barley to 69%, down respectively by -8 and -7% compared to last week. Corn sowing is now complete.

Rapeseed prices recovered a little on Friday after the decline of the previous days, in the wake of canola and palm this morning.

The dollar is weakening this morning at 1.0600 against the euro. Oil remains firm at 110.90 usd/barrel.

American market

Wheat prices fell sharply in Chicago over the past few days as beneficial rains returned to major HRW producing regions. India is relaxing its export restrictions. However, the situation remains unclear as to what volume will ultimately be granted for export. Traders will be watching the crop rating to be published this evening, which should not change much with 27% of the area deemed to be good as of last week.

US corn prices were little changed, with a partial catching up of the delay in sowing thanks to drier weather in recent weeks. In this context, the planted area could at least be equal to or higher than the latest USDA estimate of 89.5 million acres.

 Soybean prices have been supported by strong export volumes, suggesting a downward revision in carryover stocks.  

On Friday, funds were net sellers in 10,500 lots of wheat and 5,500 lots of corn. They were net buyers in 4,000 lots of soybean.

Black Sea market

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