Cereals daily: lower estimates for wheat crops

July 13, 2020 at 11:23 AM , Der AUDITOR
Play report as audio

CHICAGO/PARIS. Market and price trends with first estimates, including information on the WASDE report for wheat and corn.

Wheat: WASDE Report tends to be bullish
After the bullish WASDE Report for wheat with reduced crop expectations of 49.63 million metric tonnes in the USA, 139.5 million metric tonnes in the EU-28 and 76.50 million metric tonnes in Russia, there was a breather on the market. In France, trade remained closed because of tomorrow's bank holiday. France's wheat harvest was 10 % complete. The trade reported weaker yields, but high good protein values. FranceAgriMer expects 31 million metric tonnes of wheat, 21% less than last year. The wheat rush has begun in southwest Germany. In Bulgaria the government expects a 25% lower result with 4.5 to 4.9 million metric tonnes. The holiday season seemed to bring hotels, restaurants and bakeries good sales recently, but this summer Germans are taking holidays in their own country, which is reflected in higher bookings and full shops.

Wheat (front month)

CBoT (USD/bu)

535.75

0.2 %

MATIF (EUR/mt)

187.00

-0.4 %

Black Sea (USD/mt)

203.50

0.2 %


Wheat spot market

Milling wheat (12/220/76)

Parity

EUR/mt

Diff. EUR/mt

Rouen FOB

219.47

0.00

Hamburg DDP*

187.00

1.00

Rhineland DDP*

187.00

1.00

Neuss DDP*

185.00

1.00

Upper Rhine Region FOB*

179.00

1.00

Feed wheat (72/73)

Netherlands CIF*

188.00

0.00

Creil FOB*

181.00

0.00

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: WASDE report and rain in the Corn Belt 

The corn market in Chicago showed significant losses in the morning, which was recently related to rainy weather forecasts in the Corn Belt. Although the WASDE Report provided a boost with US corn crop forecasts reduced to 381 million metric tonnes and US corn supplies reduced to 67 million metric tonnes, this was already seen in the market. Russia's corn crop was increased to 15.3 million metric tonnes, Canada's to 14.6 million metric tonnes. The USDA reported export sales of 1.365 million metric tonnes of corn to China. Corn supplies are developing very well in France and Southern Germany.

Corn (front month)

CBoT (USD/bu)

333.50

-5.2 %

MATIF (EUR/mt)

176.75

0.5 %


Corn - physical market

Grain maize (commercial)

Parity

EUR/mt

Diff. EUR/mt

Bordeaux FOB

167.00

0.00

South-Holland 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   

View related articles

Go to the News Overview
Organic Commodities
Nov 12, 2024
ASUNCIÓN. As yields dropped to shockingly low levels for chia seeds in South America, the new season started off with a shock for the market. Silver lining is that things may change in December.
Grains
Oct 31, 2024
DALIAN/KYIV. Smaller acreages are causing a significant drop in production in Ukraine. Meanwhile, the EU was able to increase its total imports by 12% thanks to increased shipments from Kazakhstan.
Grains
Oct 30, 2024
DALIAN/KYIV. The new crop is causing prices to fall in China. In Ukraine, the average yield per hectare of the 2024 millet crop has fallen by 18% compared to last year.
Grains
Oct 17, 2024
LIMA. Favourable weather conditions and larger acreages led to an increase in quinoa production in Peru this year. In some regions, the crop was 85-90% larger than last year.