Grains - Grain Products

Cereals daily: USA expect heat wave

July 6, 2020 at 11:11 AM , Der AUDITOR
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CHICAGO/PARIS. Market and price trends with first estimates of the trade, including price trends from Ukraine.

Wheat: Heat in the USA, rapid start to the harvest in France

The wheat market started the new week in the USA with little change after the Independence Day celebrations, while they are firmer in Western Europe and weaker on the Black Sea. In the USA, hot and dry weather forecasts recently led to firmer prices. France's wheat harvest started this weekend and has advanced 4%. In Germany, the harvest is expected to start in two weeks. Overall, the yield prospects have improved compared to last month. However, changes in the weather have caused uncertainty in the market. In the Lower Rhine region, wheat from the new crop was valued EUR 1.00 per metric tonne higher, but many buyers are still waiting. In Ukraine, the hryvnia has collapsed by 2.2% against the euro within fifteen days. Ukrainian wheat with 11.5% protein is offered at EUR 176.85 per metric tonne FOB Odessa. In Southern Russia, 3.5 million metric tonnes of wheat have been harvested so far; yields in areas with drought damage are 34% lower than last year.

Wheat (front dates)

CBoT (USD/bu)

490.00

0.0 %

MATIF (EUR/mt)

182.75

0.9 %

Black Sea (USD/mt)

197.50

-0.3 %

Wheat spot market

Milling wheat (12/220/76)

Parity

EUR/mt

Diff. EUR/mt

Rouen FOB

209.92

1.60

Hamburg DDP

192.00

0.00

Rhineland DDP*

188.00

-

Neuss DDP*

182.00

-

Upper Rhine FOB*

177.00

-

Feed wheat (72/73)

Netherlands CIF*

185.00

1.00

Creil FOB

176.00

2.00

South Oldenburg DDP*

187.00

1.00

Westphalia DDP*

185.00

1.00

Upper Rhine FOB*

174.00

-

Trade sources;  *Price valuations for the new crop

Corn: hryvnia slightly depresses Ukrainian export price
The corn market started the new week in the USA and Western Europe with a slightly firmer trend, but fell slightly on the Black Sea due to the fall of the hryvnia. Dry and hot weather forecasts caused prices to rise in the USA. US corn is in the sensitive flowering phase. In France, there was only a slight increase in corn. The EU import tax on corn was abolished as of 23 June, which was due to increased US corn supplies. In the Ukraine, the hryvnia collapsed by 2.2% against the euro within fifteen days. Ukrainian grain maize is offered at EUR 176.85 per metric tonne FOB Odessa.

Corn (front dates)

CBoT (USD/bu)

348.50

0.2 %

MATIF (EUR/mt)

168.25

0.2 %

Corn - physical market

Grain maize (commercial)

Parity

EUR/mt

Diff. EUR/mt

Bordeaux FOB

162.00

1.00

South-Holland CIF

186.00

0.00

South Oldenburg DDP

190.00

0.00

Brake FOT

193.00

0.00

Westphalia DDP

192.00

0.00

Upper Rhine FOB

182.00

0.00

Trade sources

 

DDGS (front dates)

Parity

EUR/mt

Diff. EUR/mt

Zeitz EXW

182.00

0.0 %

Trade sources   

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