THE prix soft wheat on Euronext and the walk French physical figures regressed somewhat between November 6 and 7, a consequence of the increase ineuro facing the dollarpenalizing the attractiveness of European origins, and French in this case. Same observation for corn andbarley fodder on hexagonal squares.
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On the side of wheat tender, in addition to the rebound of the euro compared to competing currencies, let us point out the crumbling of values on the CBOT in Chicago. The Russian authorities have somewhat raised their forecasts of production national for 2024.
Add to this the improvement of growing conditions in Argentine.
International competition continues to rage. An article in Le Figaro on November 6 announced that “the Professional Association of Banks and Financial Institutions (Abef), a public institution serving as a voice for the Algerian authorities to regulate trade, summoned local banks on Monday, November 4 to inform them (verbally) of a new measure: import and export operations, from and to the Francecan no longer be processed. The Algerian authorities denied this the next day, announced BFMTV. It nevertheless remains that the Franco-Algerian relations are going through a period of great turbulence. Remember that theAlgeria excluded French wheat during its last two tenders. If no conclusions can be drawn at this time, the matter must be followed closely.
In butprices on Euronext also lost ground. However, this movement of withdrawal, linked to the evolution of euro-dollar paritywas slowed down by the rise in values on the CBOT in Chicago. International demand for US origin remains dynamic. As evidenced by the sales US weekly exports, which last week reached more than 2.7 Mt.
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Fundamentals:
- Russia, soft wheat, production : 83 Mt in 2024, 82 Mt according to the USDA in October 2024 (source: Russian authorities).
Commerce international :
- United States, corn, foreign sales : 2,766,500 t last week (source: USDA).
French physical markets from November 7, 2024 (July base for cereals)
| Soft wheat | Specifications | Due date | euro/t | | Variation |
| Dunkirk rendering | 220/11 miller Harvest 2024 | Nov.-Dec. | 216,00 | N | -1,00 |
| Rendering La Pallice | 76/220/11 Harvest 2024 | Nov.-Dec. | 216,00 | N | -1,00 |
| Rendering Rouen | 76/220/11 Harvest 2024 | Nov.-Dec. | 215,00 | N | -1,00 |
| Pontivy/Guingamp rendering | forage 74 kg/hl base, 72 kg/hl mini Harvest 2024 | Nov.-Dec. | 207,00 | N | -1,00 |
| Fob Moselle | miller Harvest 2024 | Nov.-Dec. | 218,00 | N | -1,00 |
| Fob Rouen | FCW Superior A2 class 1 major. included Harvest 2024 | nov. | 223,12 | | 1,90 |
| | FCW Medium A3 class 2 majo. included Harvest 2024 | nov. | inc. | | |
| Fob La Pallice | FAW Superior A2 class 1 major. included Harvest 2024 | nov. | 224,32 | | 1,90 |
| Departure from Marne | BPMF 220 Hagberg Harvest 2024 | Jan-Mar | 224,50 | N | -1,00 |
| Departure from Eure/Eure-et-Loir | BPMF 76 kg/hl Harvest 2024 | Nov.-Dec. | 208,00-211,00 | N | -1,00 |
| Departure South-East | miller Harvest 2024 | Jan-Mar | 230,00 | N | 0,00 |
| Durum wheat | Specifications | Due date | euro/t | | Variation |
| Rendering Port-la-Nouvelle | semolina standards Harvest 2024 | Nov.-Dec. | 300,00 | N | 0,00 |
| Departure from Eure/Eure-et-Loir | semolina standards Harvest 2024 | Nov.-Dec. | 290,00-295,00 | N | 0,00 |
| Departure South-East | semolina standards Harvest 2024 | Nov.-Dec. | 290,00 | N | 0,00 |
| But | Specifications | Due date | euro/t | | Variation |
| Bordeaux rendering | Harvest 2024 | Nov.-Dec. | 199,50-200,50 | N | -1,00 |
| Rendering La Pallice | Harvest 2024 | Nov.-Dec. | 200,50 | N | -1,00 |
| Pontivy/Guingamp rendering | Harvest 2024 | Nov.-Dec. | 206,50 | N | -1,00 |
| Fob Bordeaux | Harvest 2024 | Nov.-Dec. | 204,00 | N | -1,00 |
| Fob Rhin | Harvest 2024 | Nov.-Dec. | 207,00 | N | -1,00 |
| | Harvest 2024 | Jan-Jun | 215,00 | N | -1,00 |
| Departure South-East | Harvest 2024 | Nov.-Dec. | 215,00 | N | 0,00 |
| Feed barley | Specifications | Due date | euro/t | | Variation |
| Rendering Rouen | 62-63 kg/hl Harvest 2024 | Nov.-Dec. | 191,00 | N | -1,00 |
| Pontivy/Guingamp rendering | Harvest 2024 | Nov.-Dec. | 193,00 | N | -1,00 |
| Fob Moselle | without limit. orgettes Harvest 2024 | Nov.-Dec. | 184,00 | N | -1,00 |
| Departure from Eure/Eure-et-Loir | Harvest 2024 | Nov.-Dec. | 181,00 | N | -1,00 |
| Departure South-East | 62/63 kg/hl Harvest 2024 | Nov.-Dec. | 185,00 | N | 0,00 |
| Malting barley – Winter 6 rows | Specifications | Due date | euro/t | | Variation |
| Fob Creil | Faro 11.5% max Port 500 t Harvest 2024 | Nov.-March | 225,00 | N | 0,00 |
| Malting barley – Spring | Specifications | Due date | euro/t | | Variation |
| Fob Creil | Planet 11.5% max Port 500 t Harvest 2024 | Nov.-March | 241,00 | N | 0,00 |
Quotations of milling products from November 5, 2024
| Its fine soft wheat | Specifications | Due date | euro/t | | Variation |
| Departure from Ile-de-France | | available. | 125,00-127,00 | T | |
| | pellets | available. | 134,00-136,00 | T | |
| Half-white remolding | Specifications | Due date | euro/t | | Variation |
| Departure from Ile-de-France | | available. | 164,00-166,00 | T | |
| Low flour | Specifications | Due date | euro/t | | Variation |
| Departure from Ile-de-France | | available. | 168,00-170,00 | T | |
Commercial quotes for dairy products from November 7, 2024
| Milk powder | Specifications | Due date | euro/t | | Variation |
| | NBPL departure at 30 days 5% H BT bulk | available. | 2420,00 | N | |
| Whey powder | Specifications | Due date | euro/t | | Variation |
| | NBPL departure at 30 days, BILA pH 6 bulk | available. | 855,00 | N | |
Evolution dollar / euro du 7 novembre 2024
| Devise | Closing value |
| 1 dollar US | 0,9272 euro |
| 1 euro | 1,0785 dollar |
Chicago Futures Market Closes November 7, 2024
| Raw materials | Fence | Chicago |
| Wheat | 571,50 | cents/wood. |
| But | 427,50 | cents/wood. |
| Ethanol | 2,161 | $/gallon |
Closing of the Euronext futures market on November 7, 2024
| Milling wheat (Euronext) |
| Echéance | Fence |
| Dec. 2024 | 215,25 |
| Mars 2025 | 226,75 |
| May 2025 | 232,25 |
| Volume | 102312 |
| Corn (Euronext) |
| Echéance | Fence |
| Mars 2025 | 210,50 |
| June 2025 | 214,50 |
| August 2025 | 218,50 |
| Volume | 2518 |
International market quotes from November 7, 2024
| Energy | Echéance | Closing value |
| Oil (Nymex) | Dec. 2024 | 72,36 $ |
| Ocean freight indices | from November 6 | Variation |
| Baltic Dry Index (BDI) | 1427 | 22,00 |
| Baltic Panamax Index (BPI) | 1185 | -6,00 |
| Baltic Capesize Index (BCI) | 2060 | 93,00 |
| Baltic Supramax Index (BSI) | 1118 | -18,00 |
| Baltic Handysize Index (BHSI) | 707 | -3,00 |
