Pre-opening 08/08/2022
Paris Chicago
Wheat+ 1 €+ 2 cents
Corn+ 1 €- 2 cents
Rapeseed+ 2 to + 3 €
Soybean+ 3 cents
Indexes 08/08/2022
€/$1,0199 $
Oil WTI89,01 $/b

Wheat (€/t)
Sept. 22341,00-1,50
Déc. 22325,75-0,50
Mars 23320,25+0,25
Mai 23318,25+0,25
Sept. 23294,00+0,00
Corn (€/t)
Nov. 22327,00-0,25
Mars 23321,75-2,25
Juin 23321,00-1,25
Rapeseed (€/t)
Nov. 22655,75+2,50
Févr. 23656,00+4,25
Mai 23655,25+3,75
Août 23644,75+3,75

08/08/2022

Wheat (€/t) : 5135 lots
LotsTypeStrike
100Call Sept. 22350,00
500Call Déc. 22330,00
150Call Déc. 22356,00
500Call Déc. 22380,00
200Call Déc. 22390,00
500Call Mars 23350,00
200Call Mars 23385,00
270Put Sept. 22330,00
2Put Sept. 22335,00
3Put Sept. 22340,00
6Put Sept. 22380,00
200Put Déc. 22275,00
150Put Déc. 22290,00
1000Put Déc. 22300,00
152Put Déc. 22320,00
500Put Mars 23270,00
200Put Mars 23275,00
500Put Mars 23315,00
2Put Mai 23310,00
Corn (€/t) : 6 lots
LotsTypeStrike
6Call Nov. 22365,00
Rapeseed (€/t) : 601 lots
LotsTypeStrike
1Call Nov. 22660,00
200Call Févr. 23730,00
200Put Févr. 23600,00
200Put Févr. 23650,00

Wheat (¢/b)
Sept. 22775,7500+5,7500
Déc. 22795,2500+6,7500
Mars 23814,0000+4,7500
Mai 23826,2500+4,2500
Juil. 23827,5000+3,7500
Corn (¢/b)
Sept. 22610,2500-0,7500
Déc. 22610,0000-2,2500
Mars 23618,0000-2,7500
Mai 23622,5000-2,7500
Juil. 23623,2500-2,5000
Soybean (¢/b)
Août 221614,7500+4,7500
Sept. 221463,2500+5,7500
Nov. 221408,7500-6,7500
Janv. 231417,0000-7,2500
Mars 231417,0000-7,2500
Soy meal ($/st)
Août 22499,1000-0,4000
Sept. 22437,5000+1,0000
Oct. 22407,7000-4,4000
Déc. 22405,1000-4,3000
Janv. 23402,3000-3,8000
Soy oil (¢/lb)
Août 2268,5900+1,4100
Sept. 2265,0000+0,1500
Oct. 2264,1600+0,1800
Déc. 2263,9700+0,1900
Janv. 2363,7200+0,0700

08/08/2022

Physical (€/t)
Durum wheat delivered La Pallice Spot - July 2022 basis440,00+0,00
Wheat delivered Rouen - July 2022 basis342,00+0,00
Corn delivered Bordeaux Spot - July 2022 basis332,00+0,00
Corn FOB Rhin Spot - July 2022 basis325,00+0,00
Feed barley delivered Rouen - July 2022 basis300,00+0,00
Malting barley FOB Creil Spot - July 2022 basis380,00+0,00
Rapessed FOB Moselle Spot - Flat - 2022 harvest653,00+5,00
Oleic sunseed delivered St Nazaire Spot - Flat - 2022 harvest740,00+0,00
Feed peas FOB Creil Spot - August 2022 basis370,00+0,00
Analysis 08/08/2022

European market

No major changes at the end of the week, operators did not wish to remain in position before the weekend, amid high uncertainty on the markets driven by both fundamentals and geopolitics.

In France, concerns are growing about the current weather conditions. An unprecedented water deficit  is having a major impact on corn crops and fodder production for farmers. The French Ministry of Agriculture has revised its wheat production estimate upwards to 33.9 million tonnes from 35.4 million tonnes last year. Durum wheat production is estimated at 1.36 million tonnes compared to 1.58 million in 2021. Barley production is forecast at 11.4 million tonnes, the same level as last year. The most spectacular decline is in maize, with production now estimated at 12.7 million tonnes compared with 15.53 million tonnes last year. Given the persistent water deficit, French production could even fall below 12 million tonnes, according to Agritel analysts.

On the international scene, the US sold 132,000 t of soybeans to China and 132,000 t to an undisclosed destination. South Korea bought 120,000t of feed wheat, probably sourced from Australia. China's soybean imports are down in July 2022, at 7.88 million tonnes versus 8.67 million last year.

Ukrainian exports dominate the news, with the first ship loaded last week with just over 26,000 t of corn, initially destined for Lebanon, but which may end up going to Syria. Four ships left Ukrainian ports yesterday, transporting 110,000 t of corn, 45,000 t of oil cake and 6,000 t of sunflower oil. If the corridor seems to be respected for now, the logistical challenge remains huge to clear the port silos from the 2021 crop to leave room to the 2022 harvest currently underway.

Rapeseed prices are benefiting from the rebound in palm, which is still up over 4% this morning in Kuala Lumpur.

The dollar is little changed at 1.0160 against the euro and 60.60 against the rouble. Crude oil is dealing at 89.40 usd/barrel in New York.

American market

Wheat prices fell on Friday in Chicago amid a resumption of Ukrainian exports and a record harvest expected in Russia.

Soybean was down slightly as some rain was expected over the weekend.

Corn was up slightly thanks to funds. It should be noted that China seems to be trying to facilitate imports of corn from Brazil. Read more.

Geopolitical tensions with China are limiting the potential for price increases for the time being.  

On Friday, funds were net buyers in 3,000 lots of corn but net sellers in 3,500 lots of soybean and 2,500 lots of wheat.

Black Sea market

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Live news

Historic water deficit in France