Cereals daily: French exports support firmer prices
July 30, 2020 at 9:52 AM ,
Der AUDITOR
Wheat: French export prices rise slightly
The wheat market was firmer. In the USA, the low dollar exchange rate has led to higher export expectations. According to traders, the US summer wheat harvest has so far brought yields below last year's average. In France, wheat increased by EUR 1.00 per metric tonne. Export shipments to China, Algeria and Ethiopia have somewhat fixed the price at French seaports. Tunisia announced tenders for common and durum wheat and feed barley. In France, the wheat harvest was almost completed. Despite better yields and higher qualities north of the Loire and Seine, a decline in the crop is confirmed. In France, the trade is expecting a 26% smaller crop than last year at 29.22 million metric tonnes. The French analyst Tallage has recently lowered its forecast for the EU soft wheat harvest (including Great Britain) to just under 130 million metric tonnes. The wheat crop in Germany tends to be better than in France. In Poland, the trade now expects 11.6 million metric tonnes of wheat after all, which would be 4% higher than last year. Russia is said to have regained its former strength in the export market, which should greatly limit price increases in Western Europe.
|
Wheat futures (front month) |
||
|
CBoT (USD/bu) |
532.00 |
1.0 % |
|
MATIF (EUR/mt) |
181.75 |
0.5 % |
|
Black Sea (USD/mt) |
205.00 |
0.0 % |
Wheat spot market
|
Milling wheat (12/220/76) |
||
|
Parity |
EUR/mt |
Diff. EUR/mt |
|
Rouen FOB* |
183.00 |
1.00 |
|
Hamburg DDP* |
181.00 |
1.00 |
|
Rhineland DDP* |
183.00 |
2.00 |
|
Westphalia DDP* |
183.00 |
1.00 |
|
Upper Rhine Region FOB* |
174.00 |
0.00 |
|
Feed wheat (72/73) |
||
|
Netherlands CIF* |
185.00 |
1.00 |
|
Creil FOB* |
179.00 |
1.00 |
|
South Oldenburg DDP* |
181.00 |
0.00 |
|
Neuss DDP* |
180.00 |
1.00 |
|
Upper Rhine Region FOB* |
174.00 |
1.00 |
|
Trade sources |
||
Corn: hurricane "Isaias" races towards Florida
The US corn market declined. Good crop expectations and no new exports to China weighed on the market, even though more corn was consumed for ethanol processing. US ethanol production increased by 50,000 to 958,000 barrels/day. US ethanol supplies also rose by 471,000 to 20.272 million barrels. However, the US ethanol price rose by 4.1% to USD 1.382 per gallon according to the US Grain Council. Crude oil also became more expensive due to hurricane "Isaias" heading for Florida. In France, the announced heat wave at the weekend supported higher corn prices.
|
Corn futures (front month) |
||
|
CBoT (USD/bu) |
316.75 |
-1.2 % |
|
MATIF (EUR/mt) |
172.25 |
0.1 % |
|
Grain maize (commercial), physical market |
||
|
Parity |
EUR/mt |
Diff. EUR/mt |
|
Bordeaux FOB |
166.00 |
-1.00 |
|
South Holland CIF |
195.00 |
0.00 |
|
South Oldenburg DDP |
197.00 |
0.00 |
|
Brake FOT |
198.00 |
0.00 |
|
Westphalia DDP |
197.00 |
0.00 |
|
Upper Rhine Region FOB |
190.00 |
0.00 |
|
Trade sources |
||
|
DDGS (Front month), spot market |
||
|
Parity |
EUR/mt |
Diff. EUR/mt |
|
Zeitz EXW |
183,00 |
0,00 |
| Trade sources | ||
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