Pre-opening 06/07/2022
Paris Chicago
Wheatunch-2 cents
Cornunch-5 cents
Rapeseed-5 €/t
Soybean-4 cents
Indexes 05/07/2022
€/$1,0290 $
Oil WTI99,50 $/b

Wheat (€/t)
Sept. 22331,75-6,50
Déc. 22322,00-6,50
Mars 23318,75-5,75
Mai 23317,50-6,00
Sept. 23281,25-2,25
Corn (€/t)
Août 22287,75-1,75
Nov. 22278,25-6,75
Mars 23280,50-7,00
Juin 23272,00+8,00
Rapeseed (€/t)
Août 22663,25+18,25
Nov. 22663,75+17,50
Févr. 23662,00+16,00
Mai 23659,25+17,00
Août 23625,00+9,50

05/07/2022

Wheat (€/t) : 15955 lots
LotsTypeStrike
100Call Sept. 22330,00
150Call Sept. 22355,00
10Call Sept. 22360,00
200Call Sept. 22380,00
501Call Sept. 22390,00
120Call Sept. 22395,00
500Call Sept. 22440,00
25Call Déc. 22300,00
1Call Déc. 22325,00
4Call Déc. 22338,00
4Call Déc. 22339,00
630Call Déc. 22340,00
752Call Déc. 22350,00
300Call Déc. 22363,00
1200Call Déc. 22370,00
350Call Déc. 22400,00
300Call Déc. 22410,00
224Call Déc. 22420,00
100Call Déc. 22430,00
600Call Déc. 22435,00
6Call Déc. 22440,00
500Call Déc. 22470,00
60Call Déc. 22480,00
200Call Mars 23335,00
200Call Mars 23375,00
200Call Mai 23335,00
200Call Mai 23375,00
25Call Mai 23450,00
3075Put Sept. 22300,00
3225Put Sept. 22320,00
200Put Sept. 22337,00
201Put Sept. 22350,00
200Put Déc. 22290,00
1Put Déc. 22295,00
50Put Déc. 22300,00
30Put Déc. 22310,00
1010Put Déc. 22320,00
1Put Déc. 22329,00
100Put Déc. 22340,00
200Put Mars 23290,00
200Put Mai 23290,00
Corn (€/t) : 1 lots
LotsTypeStrike
1Call Nov. 22302,00
Rapeseed (€/t) : 25 lots
LotsTypeStrike
3Call Août 22590,00
20Put Nov. 22620,00
2Put Mai 23600,00

Wheat (¢/b)
Juil. 22793,7500-13,5000
Sept. 22807,0000-16,2500
Déc. 22824,0000-16,0000
Mars 23839,2500-16,0000
Mai 23847,7500-17,5000
Corn (¢/b)
Juil. 22736,0000-6,0000
Sept. 22592,2500-7,5000
Déc. 22578,5000-8,2500
Mars 23585,0000-8,5000
Mai 23589,2500-8,0000
Soybean (¢/b)
Juil. 221575,2500-7,2500
Août 221439,2500-5,7500
Sept. 221337,0000-7,7500
Nov. 221316,0000-5,2500
Janv. 231322,0000-6,5000
Soy meal ($/st)
Juil. 22452,8000+5,2000
Août 22410,4000+4,6000
Sept. 22389,3000+1,5000
Oct. 22377,1000+1,7000
Déc. 22377,6000+1,5000
Soy oil (¢/lb)
Juil. 2260,5200-1,4900
Août 2259,6200-1,6500
Sept. 2258,4300-1,5700
Oct. 2257,7000-1,5400
Déc. 2257,4200-1,5300

06/07/2022

Physical (€/t)
Durum wheat delivered La Pallice Spot - July 2022 basis460,00-25,00
Wheat delivered Rouen - July 2022 basis338,00-12,00
Corn delivered Bordeaux Spot - July 2021 basis282,00-5,00
Corn FOB Rhin Spot - July 2021 basis278,00-5,00
Feed barley delivered Rouen - July 2022 basis288,00-12,00
Malting barley FOB Creil Spot - July 2022 basis390,00-5,00
Rapessed FOB Moselle Spot - Flat - 2022 harvest664,00-2,00
Oleic sunseed delivered St Nazaire Spot - Flat - 2022 harvest810,00-20,00
Feed peas FOB Creil Spot - August 2022 basis370,00-15,00
399,00-2,00

Events

Analysis 06/07/2022

European market

The markets were in a state of panic yesterday, for all products, amidst a global economic context where recession fears are on the rise. In addition, there is the risk of a new wave of covid spreading, prompting all players to reduce their exposure to market risks. The tightening of monetary policies is adding to the pressure on the markets, while global demand for cereals remains strong.

Among the key indicators of the economic situation, crude oil prices have fallen back below the symbolic $100/barrel mark, and the dollar has continued to strengthen, rising this morning to 1.0260 against the euro and 62.50 against the rouble. The fall in the Russian currency, coupled with the change in the calculation of export taxes, has enabled this origin to regain competitiveness on the international scene.

The French origin remains very attractive for wheat, with the sale at the beginning of this week of a new significant volume to Egypt, estimated at 170,000 t out of a total of 444,000 t, the rest being divided between 214,000 t for Russia and 60,000 t for Romania.  Harvesting is continuing in France under good conditions, with its share of surprises and significant differences in yields depending on the regions and plots. Arvalis estimates the average soft wheat yield for France at 69.5 quintals/ha, down 3% compared to the ten-year average.

The EU should have exported 27.47 Mt of wheat in the 2021/2022 campaign, compared to 25.71 Mt the previous year. Exports of barley, however, are down to 6.97 Mt for the year just ended, compared with 7.42 Mt the previous year. Corn imports are up to 16.37 Mt from 15.22 Mt in the 2020/2021 season.

Exports from Ukraine are still much lower than last year. According to the Ukrainian Minister of Agriculture, only 138,000 t of wheat were exported in June compared to 662,000 t to date last year. A total of 2.17 Mt of all grains and oilseeds were exported in June. This compares to shipments of 6 Mt per month before the conflict.  

Yesterday's StatCan report confirms good conditions in Canada at the moment with 25.4 million acres of wheat planted, a record since 2013, and 21.4 million acres of canola, down slightly from last year, but within the range of expectations.

Palm oil fell sharply again this morning in Kuala Lumpur, dropping 9% from the previous day. Rapeseed has managed to keep up, despite higher than expected yields overall, but still benefiting from comfortable crushing margins.

 

 

American market

Prices fell sharply in Chicago yesterday, in a climate of sell-off close to panic on fears of economic recession. However, the climate is not the most favourable for the development of spring crops, since the crop rating for corn this week is only 64% good to excellent, down 3 points from last week. Soybeans are also down 2 points with 63% rated as good to excellent. Only spring wheat is improving with 66% rated as good to excellent compared to 59% the previous week.

Soybean and corn prices in the US are back to the levels they were at before the start of the conflict in Ukraine, also penalized by the strength of the dollar.

Export inspections for the past week came in at 676,824 tonnes for corn, below expectations.  Export inspections came in at 111,830 tonnes for wheat and 354,987 tonnes for soybeans.

Funds were net sellers yesterday on 24,000 lots of corn, 23,500 lots of soybeans and 13,500 lots of wheat.

Black Sea market

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Live news

Markets fall on recession fears