Grains - Grain Products

Cereals daily: high imports from Canada

July 14, 2020 11:23 AM, Der AUDITOR
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CHICAGO/PARIS. Market and price trends with first estimates, including new import and export data.

Wheat: EU imports wheat from Canada
On the wheat markets, profit-taking caused price losses in Chicago and Paris. On the weekend, 68% of the US wheat harvest was completed in the USA, compared to 56% last week and 66% on average. In the Midwest, there was widespread precipitation, which should interrupt the threshing. US wheat export control revealed 624,211 metric tonnes, a plus of 44% from last week. Although China bought 130,000 metric tonnes of durum wheat and 190,000 metric tonnes of spring wheat from the US, US traders remained skeptical about China's import purchases under the Phase 1 agreement. At 241,577 metric tonnes, EU wheat exports to third countries fell short of last year's level by 62.2% and flour exports by 61.2% to 9,691 metric tonnes. EU wheat imports rose by 12.5% to 43,189 metric tonnes. Around 87% of the imported wheat came from Canada. France's trade remains closed today because of the national holiday. Good quality wheat is reported in France. Egypt is looking in a new tender for the second half of August. In Germany the harvest was temporarily interrupted.

Wheat (front month)

CBoT (USD/bu)

529.00

-1.3 %

MATIF (EUR/mt)

185.75

-0.9 %

Black Sea (USD/mt)

202.25

-0.7 %

Wheat spot market

Milling wheat (12/220/76)

Parity

EUR/mt

Diff. EUR/mt

Rouen FOB

219.47

0.00

Hamburg DDP*

187.00

0.00

Rhineland DDP*

187.00

0.00

Neuss DDP*

185.00

0.00

Upper Rhine Region FOB*

179.00

0.00

Feed wheat (72/73)

Netherlands CIF*

188.00

0.00

Creil FOB*

181.00

0.00

South Oldenburg DDP*

188.00

0.00

Westphalia DDP*

187.00

0.00

Upper Rhine Region FOB*

175.00

0.00

Trade sources
*Price valuations

Corn: EU corn imports collapse 

The US corn market came under pressure from profit-taking in Chicago and rainy weather in the Corn Belt. US corn export control revealed 902,623 metric tonnes, which is 25% higher than last week. Although China bought 760,000 metric tonnes of corn from the old crop and 600,000 metric tonnes from the new crop, US traders remained skeptical about China's import purchases under the Phase 1 agreement. At 357,499 metric tonnes, EU corn imports fell 53% short of last year's level. Around 26% of the imported corn came from Serbia, around 24% from Ukraine, around 21% from Canada and 20% from Brazil.

Corn (front month)

CBoT (USD/bu)

328.25

-1.6 %

MATIF (EUR/mt)

178.25

0.1 %

Corn - physical market

Grain maize (commercial)

Parity

EUR/mt

Diff. EUR/mt

Bordeaux FOB

167.00

0.00

South Holland CIF

190.00

0.00

South Oldenburg DDP

195.00

0.00

Brake FOT

195.00

0.00

Westphalia DDP

195.00

0.00

Upper Rhine Region FOB

186.00

0.00

Trade sources

DDGS spot market

DDGS (Front month)

Parity

EUR/mt

Diff. EUR/mt

Zeitz EXW

183.00

0.00

Trade sources   

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