Cereals daily: markets start weaker in the morning
June 17, 2020 at 9:11 AM ,
Der AUDITOR
Foreign exchange and crude oil market
The euro exchange rate weakened slightly. The impetus came from Washington, where the Trump administration is preparing a massive infrastructure package of almost USD 1 billion for release in October. In the run-up, higher liquidity in the US markets is leading to better sales expectations. On the other hand, there was little attention paid to positive economic news from Germany. The ZEW Indicator of Economic Sentiment improved for the third month in a row in June.
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Foreign exchange market |
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Euro exchange rate |
1.1272 |
-0.6 % |
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Deutsche Bank |
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Crude oil market |
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Brent |
40.6 |
2.2 % |
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WTI |
37.8 |
2.1 % |
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Crude oil trade |
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Wheat market
Wheat had a weak start to the new trading day. Better weather conditions with sufficient precipitation in the Midwest of the USA, Western Europe and the Black Sea region drove prices downwards. In Saudi Arabia, the state-owned SAGO bought a good 1.08 million metric tonnes of feed barley at a price of USD 198.91 per metric tonne Cost & Freight. According to the trade, the main supplier is Glencore. Taiwan bought 80,000 metric tonnes of milling wheat from the USA and in addition 76,000 metric tonnes from the USA and Australia. In France and Southern Germany, the feed barley harvest could start next weekend after furhter highs in weather.
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Wheat (front dates) |
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CBoT (USD/bu) |
492.50 |
-2.1 % |
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MATIF (EUR/mt) |
179.75 |
-0.9 % |
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Black Sea region (USD/mt) |
200.50 |
-0.8 % |
Wheat spot market
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Milling wheat (12/220/76) |
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Parity |
EUR/mt |
Diff. EUR/mt |
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Rouen, FOB |
181.00 |
-3.00 |
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Creil, FOB |
171.00 |
-3.00 |
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Hamburg, DDP |
198.00 |
0.00 |
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Rhineland, DDP |
199.00 |
0.00 |
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Neuss, DDP |
193.00 |
0.00 |
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Upper Rhine Regioin, FOB |
190.00 |
0.00 |
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Feed wheat (72/73) |
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Netherlands, CIF |
200.00 |
0.00 |
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South Oldenburg, DDP |
200.00 |
-2.00 |
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Westphalia, DDP |
199.00 |
-1.00 |
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Upper Rhine Region, FOB |
190.00 |
0.00 |
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Trade sources |
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Corn market
Corn had a weaker start to the new trading day in the USA and almost unchanged in Western Europe. Better weather conditions with sufficient precipitation in the Midwest of the USA, in Western Europe and on the Black Sea caused prices to fall or develop moderately. The feed barley harvest, which begins next weekend in France and southern Germany after the influence of a high-pressure area, could also put corn under some pressure.
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Corn (front dates) |
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CBoT (USD/bu) |
327.25 |
-1.7 % |
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MATIF (EUR/mt) |
165.50 |
0.1 % |
Corn - physical market
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Grain maize (commercial) |
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Parity |
EUR/mt |
Diff. EUR/mt |
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Rouen, FOB |
160.00 |
0.00 |
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Creil, FOB |
186.00 |
0.00 |
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South Oldenburg, DDP |
190.00 |
0.00 |
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Westphalia, DDP |
192.00 |
0.00 |
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Neuss, DDP |
184.00 |
0.00 |
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Upper Rhine Region, FOB |
182.00 |
0.00 |
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Trade sources |
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