World Markets and Trade June 2010
Foreign consumption is currently projected to outpace production as exportable supplies in the EU and Russia fall,
and production shortfalls in Turkey and Syria are boosting import demand, according to the USDA Foreign Agricultural Service.
A last-minute agreement by Brazil to suspend that country's pending tariffs against the United States gives the domestic wheat
industry hope that it can meet Brazil's needs for Hard Red Winter wheat.
American - US Market
Grain futures higher at the close Friday on the Chicago Board of Trade.
Corn Chicago 18.06:2010 Jly 3.60 3/4, up 3 1/4; Sep 3.70, up 3
Soybeans Chicago 18.06:2010 Jly 9.61, up 9; Aug 9.51, up 6 3/4; Sep 9.37 3/4
Wheat Chicago 18.06:2010 Jly 4.61 3/4, off 1; Sep 4.77 3/4, off 3/4
Oats Chicago 18.06:2010 Jly 2.63, up 1 3/4; Sep 2.63, up 4 1/2
Corn prices were slightly higher with weekly sales above 1 million metric tons for nine of the past 11 weeks. Wheat futures
were slightly lower as traders assessed heavy rains falling in western Canada. Soybean prices rose with 90-degree weather
expected in much of the Midwest.
DECEMBER CBOT WHEAT
December Chicago wheat on Wednesday closed higher and near mid-range on more short covering and some fresh speculative
buying interest.
While the wheat bears still have the overall near-term technical advantage, my bias is that there is not much downside price
potential left in the market, or that prices have already put in market low.
The next downside price objective for the wheat futures bears is pushing and closing prices below solid technical support at
last week's contract low of $4.72 3/4.
DECEMBER CORN
December corn on Wednesday closed firmer, near mid-range and hit a fresh two-week high.
The corn market bulls have recently gained some fresh upside near-term technical momentum to suggest that a market low
is in place. However, the bulls have more work to do in the near term to suggest that an uptrend in prices can be sustained.
The next downside price objective for the bears is pushing and closing prices below solid chart support at last week's low
of $3.53 3/4.
Domestic prices:
Prices of all classes of wheat dropped in the month of May.
- Hard Red Spring (HRS) plunged $24,-/Mton on to $238,- Mton
- The beginning of the harvest is pressuring Hard Red Winter (HRW) prices, which declined $13/Mton to $179.
- HRW also fell below Soft Red Winter (SRW), an unusual event. SRW declined $16/Mton to $182,-
- Technical market factors continue to keep SRW prices uncompetitive in world markets.
- Soft White Wheat (SWW) declined $10/ton to $175,- just slightly below HRW.
European Market
Operators will now focus on the quality of future harvest in France, which will be a determining factor for our export capacity
for the future campaign. Brussels this week granted licenses to export for 628,000 Mton of wheat, a very high figure, confirming
the competitiveness of European origins. Note however that this night euro crossed the 1.2360 threshold against the dollard
which could lead to a further strengthening of the euro.
In wheat, harvest 2010, traded at 134,- € / Mton in July basis for a standard delivery in harvest time.
The durum wheat is quoted at 170,- €/Mton delivered Port La Nouvelle.
Rapeseed on the cash markets displays only nominal for the current harvest. In the new harvest,
rapeseed quotes at 328.75 €/Mton for August 2010.
For feeding barley, the Rouen delivery traded at 105,- €/Mton on a July basis on the 2010 harvest.
On the 2010 harvest, the Sebastian quotes at 138,- Mton €/Mton for january/june 2011.
For the 2009 sunflower harvest, the market traded at 308,- €/Mton for a Saint-Nazaire delivery in July/August.
Corn 2009 harvest traded at 143,- €/Mton on a July FOB Bordeaux basis for a May 2010 delivery.
The feeding peas market quotes at 165,- €/Mton for an august basis FOB Creil.
German Wheat Market
B Class 230 / 11,5 % cif Hamburg 142,50 Mton. € EURO
B Class 230 / 12,0 % cif Hamburg 145,- Mton. € EURO
B Class 230 / 12,0 % cif Rostock 144,- Mton. € EURO
A Class 250 / 13,0 % cif Hamburg 148,- Mton. € EURO
A Class 250 / 13,0 % cif Rostock 149,- Mton. € EURO
E Class 275 / 14,0 % cif Hamburg 156,- Mton. € EURO
E Class 275 / 14,0 % cif Rostock 157,- Mton. € EURO
Feed Class Feed cif Hamburg 141,- Mton. € EURO
German Feed Market
Barley 62/63 kg/hl cif Hamburg 114,- Mton. € EURO
Bread Rye Bread cif Hamburg 126,- Mton. € EURO
Bread Rye Bread cif Rostock 118,- Mton. € EURO
Fodder Rye Feed cif Hamburg 118,- Mton. € EURO
Triticale 72/73 kg/hl. cif Hamburg 135,- Mton. € EURO
Oats 54/55 kg/hl cif Hamburg 127,- Mton. € EURO
Oats Scandinavian 54/55 kg/hl cif Hamburg / July 136,- Mton. € EURO
Corn Feed cif Hamburg 175,- Mton. € EURO
German Oilseed Market
Rapeseed 9,2,40 cif Hamburg 345,- Mton. € EURO
Rapeseed 9,2,40 cif Rostock 343,- Mton. € EURO
Rapeseed 9,2,40 cif Kiel 342,- Mton. € EURO
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Black Sea market
For its part, Belarus imposes export duty on rapeseed at 100,- euros per ton, which will contribute to higher prices for rapeseed
on the stock exchange in Paris.
Prices of rapeseed in Ukraine are correlated mainly with the euro
During the reporting period, prices for wheat and barley in central Ukraine have fallen:
- Fodder wheat - to 880 - 920 UAH / t (EXW) (last week - 920-1.000 UAH / Mton)
- Barley - up to 850-870 USD / Mton (EXW) (last week - 900-920 UAH / Mton).
- Maize prices have remained at the same level - 1.260-1.300 (EXW) UAH / Mton (EXW) (last week - 1.260-1.300 UAH / Mton).
Prices for soft wheat, 2 and 3 class on a forward on the Ukrainian stock exchanges amounted to $ 171,- and $ 160.17 per Mton
respectively.
The weighted average price of export contracts
- soft wheat class 4 to $ 148,- per Mtonne
- barley 3 cell. - $132,- per Mton,
Russian wheat traded at $171,-/Mton FOB Novorossiysk, unchanged from last day.
Corn traded at $168,-/Mton FOB Odessa for the new harvest, unchanged from last day.
Sunseed traded at $335,-/Mton Ex Work, unchanged from last day
AVA Group
21.06.2010, 3574 просмотра.
