EU Rapemeal Prices

24/10/13 -- Rapemeal prices on the continent are sharply higher versus yesterday morning. Prices began to rise mid-morning yesterday on short covering and talk of mills switching out of rapeseed crushing and into more profitable lines such as soy or sunseed.


Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric tonne, with change from previous trading session:
.

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Chicago Market Ends Higher On Strong Export Demand

23/10/13 -- Soycomplex: Strong export demand underpins soybeans. The USDA reported the sale of 120,000 MT of US soybeans to Russia for 2013/14 delivery. An unusual sale, and one that was said to be the largest single Russian purchase of US beans in 12 years. The USDA attaché in Brazil estimated Brazil’s 2013/14 soybean crop at a record high 88.0 MMT, the same as the USDA themselves forecast in

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EU Grains Press Higher

23/10/13 -- EU grains closed firmer, with Nov 13 London wheat up GBP1.40/tonne to GBP166.00/tonne, Nov 13 Paris wheat EUR2.50/tonne higher at EUR207.50/tonne and Nov 13 Paris rapeseed EUR1.75/tonne steadier at EUR380.25/tonne.


The market continues to press higher, which is in line with the normal post-harvest seasonal tendency at this time of year.


The Russian grain harvest now stands at 88.5

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EU Rapemeal Prices

23/10/13 -- Rapemeal prices on the continent are mostly a tad lower. Despite recent talk of an EU climb-down, Reuters are now reporting that the EU has agreed to slap a huge import duty on biodiesel imports from Argentina and Indonesia who account for 90% of EU biodiesel imports (full story here). That should mean that Europe would produce more rapemeal.


Latest guide prices for EU rapemeal

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Chicago Mixed: Beans And Corn Lower, Wheat A Tad Higher

22/10/13 -- Soycomplex: Beans finished the day with losses of around 1-4 cents, having been down in double digits at one stage in overnight trade. Monday night's USDA crop progress report was a bit bearish, showing the 2013 US soybean harvest at 63% harvested and good/excellent conditions at 57%. Prices in excess of USD13/bu probably also generated some farmer selling. Taiwan's BSPA bought 120

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EU Wheat Mostly Lower In "No News" Trade

22/10/13 -- EU grains closed mixed but mostly lower, with Nov 13 London wheat ending GBP0.90/tonne easier at GBP164.60/tonne, whilst Jan 14 was GBP0.40/tonne down at GBP166.10/tonne. Nov 13 Paris milling wheat settled up EUR0.25/tonne to close at EUR205.00/tonne. Nov 13 Paris rapeseed was down EUR1.75/tonne at EUR378.50/tonne.


It's been a very "no news" sort of a day. Basically the market

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Grain Market Snippets

22/10/13 -- The overnight Globex grains are mostly red, with the soy complex leading the way. Front month Nov 13 beans are currently 10 1/4 cents lower, with meal down around USD2.50 and wheat shedding a 2-3 cents. Corn is narrowly mixed.


Russia's grain harvest is now 90.2% complete at 88 MMT, according to the Ministry. A year ago it stood at 71.9 MMT.


The wheat harvest is said to be 94.5%

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EU Rapemeal Prices

22/10/13 -- Rapemeal prices on the continent are mixed today, CBOT soymeal was firmer last night but is weaker in overnight trade offering little in the way of direction.


Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric tonne, with change from previous trading session:
.nobrtable br { display: none }




Oct13
Unq
n/a

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Chicago Wheat Corrects Back Below USD7/bu

21/10/13 -- Soycomplex: Nov 13 beans managed to push through USD13/bu and hold - a level said to be likely to trigger producer selling in the midst of harvest. The USDA reported 235 TMT of US soybeans sold to unknown for 2013/14 shipment. Weekly export inspections of 59.325 million bushels were supportive too. Chinese customs data showed that they imported 4.7 MMT of soybeans in September, 5.4%

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It Turns Out That The Argentine Wheat News Wasn't Real - EU Wheat Ends Mostly Lower

21/10/13 -- EU grains closed mixed, but mostly mostly lower to start the week, after the Under Secretary at the Argentine Ag Ministry was revealed to have said that last Thursday night's (generally released Friday morning in Europe) surprisingly low estimate for a wheat crop there this year of only 8.8 MMT was an "honest mistake" and that errors had been made in compiling the data. He didn't give

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EU Rapemeal Prices

21/10/13 -- Rapemeal prices on the continent are firmer across the board again today, continuing with the recent theme, even though soymeal values in Chicago were down on Friday. As a percentage of soymeal cost, rapemeal prices now offer the worst value they have for 12 weeks.


Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric tonne, with change from previous

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The Late Morning Vibe

21/10/13 -- Latest customs data out of China shows that they imported the following grains/oilseeds in September: 4.7 MMT of soybeans (down 5.4% versus September 2012), 718.5 TMT of wheat (+37%), 336.6 TMT of barley (+67.6%) and 232.8 TMT of rapeseed (+26%). Have I forgotten something? Yes, corn, the reason I nearly forgot corn is that they only imported 1,537 MT of the stuff, a 99.6% decline on

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Chicago Market MIxed, But Wheat Jumps To 4-Month Highs

18/10/13 -- General Comment: The USDA are back at work, and some data is starting to filter through. Any sales in excess of 100 TMT reported under the daily reporting system will now be relayed to the trade as normal. Missing weekly export sales reports will be released starting today, with the report for sales for the week ended Sep 26. We will get sales for the week ended Oct 3 next Thursday,

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EU Grains Jump On Argentine News - But Is It Real?

18/10/13 -- EU grains closed sharply higher, with Nov 13 London wheat up GBP3.65/tonne to GBP166.60/tonne, Nov 13 Paris wheat EUR5.00/tonne higher at EUR204.50/tonne and Nov 13 Paris rapeseed up EUR1.50/tonne at EUR378.00/tonne.

For the week, Nov 13 London wheat was up GBP3.60/tonne, with Nov 13 Paris wheat EUR5.25/tonne higher and Nov 13 Paris rapeseed EUR5.25/tonne firmer.


These were 3-

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Changes In The World Corn Market In The Last 10 Years

18/10/13 -- Further to yesterday's report on how large of a shift away from US dominance of the global grain markets have we seen over the last ten years for wheat, here's the same information relating to corn.

One of the most striking things to note is that whilst the US share of world production has fallen a little from 41% to 37% in the last ten years, America's share of world trade has

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Argentine Wheat News Lifts Market

18/10/13 -- The overnight Globex grains see wheat trade 8-10 cents firmer by mid-morning, with corn up 2-3 cents and soybeans 3-5 cents higher.


There's a feeling that the USDA could announce export sales for both corn and soybeans of around 3 MMT, along with maybe 1.5 MMT or so for wheat accumulated during the US government shut-down. When these announcements will start to trickle through is

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Chicago Soybeans Rise On Ideas USDA To Report Large Sales

17/10/13 -- Soycomplex: US government employees at the USDA were back in work, although they announced that the October WASDE report, due last Friday, would not be released at all. Although others have been delayed in the past, this is apparently the first time in the history of the report than one has been cancelled entirely. Beans closed with decent gains on ideas that the USDA will announce a

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EU Grains Treading Water

17/10/13 -- EU grains closed mixed once more, with Nov 13 London wheat settling GBP0.25/tonne lower at GBP162.95/tonne, whilst Jan 14 was GBP0.15/tonne firmer at GBP164.60/tonne. Nov 13 Paris milling wheat settled up EUR1.25/tonne to close at EUR199.50/tonne. Nov 13 Paris rapeseed was down EUR1.00/tonne at EUR376.50/tonne.


Defra said that UK wheat plantings fell 18% for the 2013 harvest to 1.6

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EU Rapemeal Prices

17/10/13 -- Rapemeal prices on the continent are little firmer today, following a steadier tone to last night's CBOT soymeal market which has followed through into overnight trade.


Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric tonne, with change from previous trading session:
.nobrtable br { display: none }




Oct13

230.00


+5.00

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Changes In The World Wheat Market In The Last 10 Years

17/10/13 -- Comments made the other day by the HGCA's Jack Watts at their Outlook Conference earlier in the week got me thinking. How large of a shift away from US dominance of the global grain markets have we seen over the last ten years? So I thought I'd do a little bit of research, starting with wheat.


World wheat production has risen 28% since 2003/04, with global trade up 39% to 152 MMT.

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Chicago Close - Wednesday

16/10/13 -- Soycomplex: Beans gained back what they lost on Tuesday as US Lawmakers closed in on a deal on the US borrowing limit. A solution would mean a resumption of the regular USDA drip-feed of data concerning export sales and the like, although it is currently unclear whether we will ever see the October WASDE report. The USDA will apparently decide by the end of the week whether to release

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EU Grains End Mostly A Tad Lower

16/10/13 -- EU grains closed mixed but mostly a tad lower on the day, with Nov 13 London wheat settling GBP0.15/tonne weaker at EUR163.20/tonne, whilst Jan 14 was down GBP0.50/tonne at GBP164.45/tonne. Nov 13 Paris milling wheat was EUR1.25/tonne lower at EUR198.25/tonne whilst Nov 13 Paris rapeseed jumped EUR6.00/tonne to EUR377.50/tonne.


The Russian grain harvest now stands at 84.8 MMT off

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EU Rapemeal Prices

16/10/13 -- Rapemeal prices on the continent are mostly a touch easier today, after Chicago soymeal values fell USD5/tonne last night.


Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric tonne, with change from previous trading session:
.nobrtable br { display: none }




Oct13
225.00
n/a


Nov13/Jan14
224.00

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Chicago Close Tuesday

15/10/13 -- Soycomplex: Beans closed modestly lower in directionless trade as many operators sit on the sidelines owing to the lack of fresh information from the USDA and others. The market did get some export inspection numbers from the Grain Inspection, Packers and Stockyards Administration (GIPSA). For beans they were a better than expected 47.4 million bushels (expecting 27-43 million). Dr

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London Wheat Higher, Supported By Defra Production Estimate

15/10/13 -- EU grains were mixed but mostly firmer, with Nov 13 London wheat up GBP0.85/tonne at GBP163.35/tonne and Nov 13 Paris wheat EUR0.75/tonne higher at EUR199.50/tonne. Support for London wheat came from yesterday's estimate from Defra that the 2013 UK wheat crop was only 12.1 MMT. Many in the trade had been working on a figure closer to 12.5 MMT.

"A significant decline in planted area

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Chicago Little Changed On Data Darkness

14/10/13 -- Soycomplex: Beans managed a modest rebound from Friday night's 20-month low as widespread Midwest rains are seen disrupting harvest activity. A Reuters survey estimated on average that the US 2013 soybean harvest is 45% complete. The range of estimates was a wide 35-72%, which highlights once more the degree to which the trade is stumbling along blindfolded without the USDA data to go

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EU Wheat Mixed To Start The Week

14/10/13 -- EU grains closed mixed to start the week with Nov 13 London wheat settling GBP0.50/tonne lower at GBP162.50/tonne, whilst Jan 14 was unchanged at GBP163.75/tonne. Nov 13 Paris milling wheat settled down EUR0.50/tonne to close at EUR198.75/tonne. Nov 13 Paris rapeseed was up EUR0.75/tonne at EUR373.50/tonne.


London wheat gained more than any other commodity in the grains sector last

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EU Rapemeal Prices

14/10/13 -- Rapemeal prices on the continent are little changed on old crop, and a bit weaker on new crop to start the week.


Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric tonne, with change from previous trading session:
.nobrtable br { display: none }




Oct13
unq
n/a


Nov13/Jan14
223.00
unch

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Monday Morning News Snippets

14/10/13 -- The IMF chief Christine Lagarde says that the world economy could go into recession unless US politicians get their fingers out pronto. Did you see her on the news last night? I couldn't decide if it was a man, a woman or an alien. She's also the same colour as a polished Georgian yew writing bureau. With a wig on. She reminds me of someone. I've got it, it's that old woman in Tenko,

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Chicago Mixed, Possible Biofuel Target Changes Press Corn And Beans Lower

11/10/13 -- Soycomplex: We should have had the Oct WASDE report from the USDA today, but we didn't get it due to the partial government shutdown in the US. For what it's worth, the trade was said to be expecting an average 2013 US soybean yield of 41.548 bu/acre and production at 3.156 billion bushels versus 41.2 bu/acre and 3.149 billion from the USDA in September. US 2013/14 soybean ending

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EU Grains Mostly Lower On The Day, Higher On The Week

11/10/13 -- EU grains closed mixed but mostly lower on the day, but higher for the week. Nov 13 London wheat settled GBP0.25/tonne firmer at EUR163.00/tonne, whilst Jan 14 was down GBP0.25/tonne at GBP163.75/tonne. Nov 13 Paris milling wheat was up EUR0.50/tonne at EUR199.25/tonne whilst Nov 13 Paris rapeseed fell EUR5.00/tonne to EUR372.75/tonne.


For the week, Nov 13 London wheat was up

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Chicago Grains Thursday Afternoon

10/10/13 -- US Weather, from Martell Crop Projections: Indian summer weather is coming to a halt with a cold wet forecast in central United States. The first frost of the season is anticipated in the northern Midwest.
The weather is set to deteriorate today in the Northern Great Plains with a wave of strong showers. This would be followed by more wet weather on the weekend. A powerful storm

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EU Wheat Gives Up Some Gains As Egypt Cancel Import Tender

10/10/13 -- EU grains are trading higher heading into the close with Nov 13 London wheat GBP1.00/tonne firmer at EUR162.50/tonne and Jan 14 up GBP1.75/tonne at GBP163.50/tonne. Nov 13 Paris milling wheat is currently EUR0.75/tonne steadier at EUR198.25/tonne whilst Nov 13 Paris rapeseed is EUR5.00/tonne higher at EUR37.75tonne and Paris corn trades EUR0.50/tonne firmer at EUR174.00/tonne.


I'm

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EU Rapemeal Prices

10/10/13 -- Rapemeal prices on the continent are mostly a little firmer, mirroring stronger soymeal values in Chicago and Europe, despite the outlook for a record world OSR crop this year. Informa Economics now peg global OSR output at 68.7 MMT, up from 66.8 MMT previously and the USDA's September forecast of 66.5 MMT.

Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/

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Chicago Market Little Changed In The Dark

09/10/13 -- General Comment: The dollar rose from it's recent demise on news that President Barack Obama has nominated Federal Reserve Vice Chair Janet Yellen to replace Ben Bernanke at the head of the US Central Bank. Essentially the market sees Yellen as Bernanke in a dress, a woman who is unlikely to change her predecessor's relaxed stance on continued financial stimulus. The market seems to

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EU Grains Mostly Firmer As FSU Planting Delays Dominate

09/10/13 -- EU grains closed mixed, but mostly firmer, with Nov 13 London wheat settling GBP0.40/tonne higher at GBP161.50/tonne, whilst Jan 14 was GBP0.15/tonne firmer at GBP161.75/tonne. Nov 13 Paris milling wheat settled EUR1.25/tonne steadier to close at EUR197.50/tonne. Nov 13 Paris rapeseed was up EUR5.50/tonne at EUR373.75/tonne.


An enormous amount is being made of delayed FSU winter

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Stop Dithering

09/10/13 -- It might be lovely and mild out there now, but Christmas is coming sooner than you might think. In fact, it's only 76 more sleeps until Santa is attempting to squeeze his heavily laden sack down your chimney and empty it's contents all over your living room floor in front of the kids.


When you put it like that, you can see that clearly there's no time to lose if you want to get your

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EU Rapemeal Values

09/10/13 -- Rapemeal prices on the continent are weaker, following losses in soymeal values in Chicago overnight and again this morning.


Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric tonne, with change from previous trading session:
.nobrtable br { display: none }




Oct13
220.00
-2.00


Nov13/Jan14
221.00

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Chicago Ends Lower On Harvest Pressure

08/10/13 -- Soycomplex: Beans closed lower on harvest pressure and continued reports of better than expected yields. The weather looks favourable for increased harvest activity in the week ahead. Dr Michael Cordonnier apparently raised his forecast for US soybean yields from 40.5 bu/acre to 41.0 bu/acre, pegging production at 3.13 billion bushels. China re-opened after a week long holiday.

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EU Grains Mixed, FSU Plantings Have Late Chance Of Progression

08/10/13 -- EU grains closed mixed, having spent much of the day higher, with Nov 13 London wheat settling GBP0.85/tonne firmer at EUR161.10/tonne and Jan 14 down GBP20.90/tonne at GBP161.60/tonne. Nov 13 Paris milling wheat was unchanged at EUR196.25/tonne whilst Nov 13 Paris rapeseed rose EUR1.50/tonne to EUR368.25/tonne.


The GFS model shows much drier conditions for Ukraine and Russia over

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Chicago Edges Higher In The Dark

07/10/13 -- Soycomplex: Beans closed mostly around the middle of the day's trading range, 1-6 cents higher. With no official USDA crop progress data to go on the trade is resorting to having to guess. A Reuters poll estimated that the US soybean harvest was possibly around 22% complete, from within a quite wide range of estimates of 16-30%. This possibly highlights how far out some trade ideas

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London Wheat Ends At Best Levels Since Late August

07/10/13 -- EU grains closed mostly higher on strong underlying interest on the international tender front and continued concerns over delayed winter wheat plantings in Russia and Ukraine.


The market closed with Nov 13 London wheat settling GBP1.50/tonne firmer at EUR160.25/tonne and Jan 14 up GBP1.75/tonne at GBP162.50/tonne. Nov 13 Paris milling wheat rose EUR1.75/tonne to EUR196.25/tonne

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EU Rapemeal Prices

07/10/13 -- Rapemeal prices on the continent are flat to slightly weaker today. Soymeal values in Chicago were the biggest winners out of a basket of grain futures last week, posting gains of 2.7% week-on-week, versus beans losing 1.9% and soyoil shedding 3.6%.



Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric tonne, with change from previous trading session:
.

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Is The Wheat Market Getting A Little Bit Ahead Of Itself?

07/10/13 -- Yes, I know that world demand is good for wheat at the moment, but it needs to be with a record crop to place.
Will it stay so buoyant once the impending record world corn harvest is in the bin?

Whilst everyone is getting very excited about slow winter wheat plantings in Ukraine and Russia, nobody is mentioning that European plantings are running well ahead of schedule.

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Chicago Closing Comments - Friday Night

04/10/13 -- General Comment: The market continues to seem relatively relaxed about the ongoing partial US government "shutdown" and the lack of data forthcoming from the usual agencies. Today we should have had U non-farm payrolls along with the regular Friday CFTC numbers that reveal fund long or short-holdings in commodities. We didn't get them. Yesterday we missed out on the regular weekly

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EU Grains Lower On The Day. Higher On The Week

04/10/13 -- EU grains closed mostly lower on the day but higher for the week. Strong demand underpins the market, re-enforced by last night's weekly export data from Brussels showing 746 TMT of soft wheat export licences were issued this week, the best total of the 2013/14 campaign so far.


Nov 13 London wheat settled GBP0.90/tonne easier at GBP158.75/tonne, whilst Jan 14 was also GBP0.90/tonne

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EU Rapemeal Prices

04/10/13 -- Rapemeal prices on the continent are firmer, following strong gains in soymeal values in Chicago last night, although there's been a bit of a correction there in the overnight trade.


Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric tonne, with change from previous trading session:
.nobrtable br { display: none }




Oct13
220.00

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Chicago Closing Comments Thursday Night

03/10/13 -- Soycomplex: Beans extended their mini rally from 19 month lows set earlier in the week, without the aid of the usual weekly export sales data from the shutdown USDA. The trade is trying to decide if Tuesday was the oft seen "October low" or if there is more downside on further harvest pressure to come yet this month. Rain is seen slowing the US harvest this weekend, although anecdotal

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EU Grains Rise On Black Sea Rains/Snow

03/10/13 -- EU grains closed higher with Nov 13 London wheat settling GBP3.05/tonne firmer at EUR159.65/tonne and Jan 14 up GBP2.90/tonne at GBP161.65/tonne. Nov 13 Paris milling wheat was up EUR2.25/tonne to EUR195.00/tonne whilst Nov 13 Paris rapeseed rose EUR0.50/tonne to EUR368.75/tonne.


The pound was a bit weaker today, aiding London wheat to jump to a near one month high. Paris wheat

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EU Rapemeal Prices

03/10/13 -- Rapemeal prices on the continent are firmer on the back of yesterday's news that Europe is considering slapping an anti-dumping tariff on biodiesel imports from the dirty cheating Argies and Indonesian rainforest clearing conglomerates.

That will potentially support the bleatings on the European biodiesel industry (which can't make a profit otherwise), and create more demand for EU

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The Rapeseed/Meal/Oil Conundrum

03/10/13 -- News yesterday that the EU is proposing to raise anti-dumping duties on biodiesel imports from Argentina and Indonesia (where 90% of EU imports come from) was cited as being responsible for Paris rapeseed rising more than EUR10/tonne at one point before settling EUR7.50/tonne firmer on the most active front month Nov 13.


The proposal will now go before the EU Anti-dumping Committee

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Chicago Flat To Higher, Corn/Wheat Differential Widens

02/10/13 -- Soycomplex: Beans closed modestly higher, with meal more impressively so and soyoil slumping to a fresh 3-year low. Midwest rains are seen disrupting the harvest this week, just as it was threatening to go full throttle. Linn Group forecast US 2013 soybean yields at 42.0 bu/acre, with production at 3.184 billion bushels. Lanworth are a bit less optimistic, forecasting a crop of 3.112

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EU Grains Rise On Bargain Hunting

02/10/13 -- EU grains closed mostly higher, recovering some of yesterday's losses, as the market sees bargain-picking with US corn levels at 3-year lows and soybean values posting 19-month lows yesterday.


The market closed with Nov 13 London wheat settling GBP1.70/tonne firmer at EUR156.60/tonne and Jan 14 up GBP1.75/tonne at GBP158.75/tonne. Nov 13 Paris milling wheat rose EUR2.50/tonne to

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EU Rapemeal Prices

02/10/13 -- Rapemeal prices on the continent are mixed today, a touch steadier nearby and a bit weaker further forward.


Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric tonne, with change from previous trading session:
.nobrtable br { display: none }




Oct13
213.00
+1.00


Nov13/Jan14
215.00
+1.00

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Chicago Soybeans And Corn Extend The Rout, Wheat Swimming Against The Tide

01/10/13 -- General Comment: As if attempting to forecast which way grain prices might be going wasn't hard enough, we've now got the not insignificant outside market factor of the US budget impasse. Hitherto the market has been relatively relaxed about the fact that the US government has "maxed out" the credit card at it's USD16.7 trillion limit, it'll just go and another one or raise the

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EU Grains Mostly Lower Following Bearish USDA Report

01/10/13 -- EU grains closed mostly lower in reaction to last night's generally bearish USDA stocks and wheat production data.


Nov 13 London wheat settled GBP1.85/tonne easier at GBP154.90/tonne, whilst Jan 14 was GBP1.80/tonne lower at GBP157.00/tonne. Nov 13 Paris milling wheat fell EUR3.00/tonne to close at EUR190.25/tonne. Nov 13 Paris rapeseed was also down EUR3.00/tonne at EUR360.75/tonne

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EU Rapemeal Prices

01/10/13 -- Rapemeal prices on the continent are 3-4 euros/tonne lower today following last night's bearish USDA report for soybeans.


Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric tonne, with change from previous trading session:
.nobrtable br { display: none }




Oct13

212.00


-3.00



Nov13/Jan14

214.00


-4.00

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