Grains - Grain Products

Cereals daily: larger wheat crop in Australia

July 15, 2020 9:56 AM, Der AUDITOR
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CHICAGO/PARIS. Market and price trends with first estimates.

Wheat: Australia's crop estimates higher than expected
The wheat market started the trading day slightly weaker on the French spot market. France's wheat harvest continued northwards. Yields are expected to fluctuate strongly from region to region. However, the quality is relatively constant with good values, it was said. The wheat harvest has begun in southwest Germany. Yields and qualities should be good there. The increase in EU wheat imports by 12.5% to 43,189 metric tonnes remains remarkable. About 87% of the imported wheat came from Canada. Egypt bought 114,000 metric tonnes of Russian wheat at USD 211.90 per metric tonne FOB. In Australia, Abares most recently bought 26.7 million metric tonnes of wheat, compared with 15.17 million metric tonnes last year. Russian analyst SovEcon has lowered its wheat production forecast by 1.1 million metric tonnes to 79.7 million metric tonnes.

Wheat (front month)

CBoT (USD/bu)

528.75

-0.1 %

MATIF (EUR/mt)

185.50

-0.2 %

Black Sea (USD/mt)

202.00

-0.2 %

Wheat spot market

Milling wheat (12/220/76)

Parity

EUR/mt

Diff. EUR/mt

Rouen FOB

217.83

-0.80

Hamburg DDP*

187.00

0.00

Rhineland DDP*

187.00

0.00

Neuss DDP*

185.00

0.00

Upper Rhine Region FOB*

176.00

0.00

Feed wheat (72/73)

Netherlands CIF*

187.00

-1.00

Creil FOB*

180.00

-1.00

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: French spot market picks up

Grain maize could gain up to EUR 4.00 per metric tonne in France. Traders spoke of a tighter market supply, especially as EU corn imports also declined by 53% year-on-year to 357,499 metric tonnes. Around 26% of the imported corn came from Serbia, around 24% from Ukraine, around 21% from Canada and 20% from Brazil. In the USA, China bought the record volume of 1.76 million metric tonnes of corn yesterday to meet the demands of the Phase One agreement. Because the US government formally rejected Chinese territorial claims in the South China Sea, US trade remains skeptical that Beijing will accelerate imports.

Corn (front month)

CBoT (USD/bu)

326.50

-0.6 %

MATIF (EUR/mt)

181.00

1.5 %

Corn - physical market

Grain maize (commercial)

Parity

EUR/mt

Diff. EUR/mt

Bordeaux FOB

172.00

4.00

SouthHolland 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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