Grains - Grain Products

Cereals daily: wheat quality is mainly good

July 27, 2020 11:39 AM, Der AUDITOR
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CHICAGO/PARIS. Market and price trends with first estimates.

Wheat: Western Europe's crop quality predominantly good
The wheat market started the new week a little firmer. Better export opportunities for US wheat due to the fall in the US dollar provided a boost. The fact that the International Grains Council (IGC) had reduced the world wheat crop by 6 to 762 million metric tonnes also supported the market. In France, 72% of the wheat crop was threshed, but the trade still lacked an overview of the quality north of the Loire and Seine. In the south and middle of Germany the trade spoke of good qualities with high hl weights and sedimentation values. The protein values were in the good middle range. The producer prices for milling wheat are given as EUR 150 to 165 per metric tonne. The September date for milling wheat was EUR 190 per metric tonne DDP Rhineland, EUR 15-20 per metric tonne above last year. At the start of the season, the Ukraine had the lowest stocks for ten years at 1.8 million metric tonnes of wheat.

Wheat (front month)

CBoT (USD/bu)

534.50

0.5 %

Matif (EUR/mt)

184.75

-0.9 %

Black Sea (USD/mt)

204.50

0.1 %

Wheat spot market

Milling wheat (12/220/76)

Parity

EUR/mt

Diff. EUR/mt

Rouen FOB*

186.00

2.00

Hamburg DDP*

179.00

0.00

Rhineland DDP*

182.00

0.00

Westphalia DDP*

182.00

0.00

Upper Rhine Region FOB*

174.00

0.00

Feed wheat (72/73)

Netherlands CIF*

185.00

0.00

Creil FOB*

182.00

2.00

South Oldenburg DDP*

183.00

0.00

Neuss DDP*

179.00

0.00

Upper Rhine Region FOB*

175.00

0.00

Trade sources,
*Price valuations new crop

Corn: China's import rate at 51%

In the course of trading, corn fell on the futures exchanges in the morning, but increased slightly in France. In the USA, rainfall in the Midwest temporarily put pressure on prices. However, the fall in the US dollar exchange rate improves export opportunities. US traders are expecting higher corn exports of possibly 10 million metric tonnes of corn due to lower corn supplies this season. If Beijing also wants to further increase ethanol processing, Beijing has reached 51% of the previous year's quota with corn imports of 3.66 million metric tonnes in the first half of the year. At the start of the season, supplies in the Ukraine were 22% lower than last year at 2.0 million metric tonnes of corn.

Corn (front month)

CBoT (USD/bu)

326.50

-0.8 %

MATIF (EUR/mt)

174.50

-0.2 %

Corn - physical market

Grain maize (commercial)

Parity

EUR/mt

Diff. EUR/mt

Bordeaux FOB

168.00

1.00

South Holland CIF

195.00

0.00

South Oldenburg DDP

197.00

0.00

Brake FOT

196.00

0.00

Westphalia DDP

197.00

0.00

Upper Rhine Region FOB

190.00

0.00

Trade sources

 

DDGS (Front month)

Parity

EUR/mt

Diff. EUR/mt

Zeitz EXW

183.00

0.00

Trade sources   
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