THE prix from the seed of rapeseed progressed significantly between the sessions of December 12 and 13 on the February market deadline Euronext. The other maturities show a slight increase, which deepens the “backward” situation in the market.
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At the end of last week, the Moselle was a source of unrest on the Euronext market. Indeed, on December 8, a freight boat hit a lock gate in Germany at Müden. Navigation has since been interrupted on the river, between the France and theGermany. This situation is expected to last until the end of March 2025. Euronext is therefore forced to suspend deliveries of rapeseed on the contract with an expiry date of February 2025. Consequently, operators have bought back their short positions on the European futures market, which has caused a significant increase. For longer term dates, rapeseed prices increased more moderately.
Au Canadathe prices of canola progressed slightly with support from the weakness of Canadian dollar compared to the US dollar. On the CBOTsoybean prices suffered a slight decline under the pressure of a strong dollar against the main competing currencies, and profit-taking at the end of the week. Furthermore, note a sale of 200,000 t of soya by UNITED STATES to an unknown destination. Finally, the outlook remains optimistic Brazil. In fact, Abiove corrects its previous harvest estimate up by 1 Mt to 168.7 Mt.
Today the weekly report from Nopa (American crushers association) will be published. Reuters publishes a poll in which operators expect the trituration national during the month of November amounts to 196.713 million bushels.
On the macroeconomic side, theeuro rebounded slightly against the dollar to finish at parity above $1.05. On the side of oilthe market rose last week, taking into account possible new sanctions against Russia. These decisions could influence crude oil prices in the coming months.
The prices of tournesol on the French physical market did not change between December 12 and 13.
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Fundamentals:
- Brazil, soy, production : 168.7 Mt in 2024-2025, up 1 Mt compared to the previous forecast (source: Abiove).
Commerce international :
- United States, soybeans, sale : 200,000 t to an unknown destination (source: USDA).
French physical markets from December 13, 2024 (July base for cereals)
| Sunflower | Specifications | Due date | euro/t | Variation | |
|---|---|---|---|---|---|
| Bordeaux rendering | oleic Harvest 2024 | Jan-Mar | 630,00 | N | 0,00 |
| Rendered Saint-Nazaire | oleic Harvest 2024 | Jan-Mar | 630,00 | N | 0,00 |
| Rapeseed | Specifications | Due date | euro/t | Variation | |
|---|---|---|---|---|---|
| Rendering Rouen | Harvest 2024 | Apr-June | 531,00 | N | 2,00 |
| Fob Moselle | Harvest 2024 | Apr-June | 532,00 | N | 2,00 |
| Soybean meals | Specifications | Due date | euro/t | Variation | |
|---|---|---|---|---|---|
| Departure Montoir | 48% pellets Brazil | dec. | 368,00 | V | -6,00 |
| 48% pellets Brazil | Jan. | 366,00 | V | -5,00 |
| Then | Specifications | Due date | euro/t | Variation | |
|---|---|---|---|---|---|
| Departure from Marne | forage Harvest 2024 | Dec-Mar | 295,00 | N | 0,00 |
| Departure from Somme/Oise | forage Harvest 2024 | Dec-Mar | 295,00 | N | 0,00 |
Commercial quotes for dairy products from December 12, 2024
| Milk powder | Specifications | Due date | euro/t | Variation | |
|---|---|---|---|---|---|
| NBPL departure at 30 days 5% H BT bulk | available. | 2520,00 | T |
| Whey powder | Specifications | Due date | euro/t | Variation | |
|---|---|---|---|---|---|
| NBPL departure at 30 days, BILA pH 6 bulk | available. | 865,00 | T |
Dollar/euro evolution of December 13, 2024
| Devise | Closing value |
|---|---|
| 1 dollar US | 0,9508 euro |
| 1 euro | 1,0518 dollar |
Chicago Futures Market Closes December 13, 2024
| Raw materials | Fence | Chicago |
|---|---|---|
| Military | 988,25 | cents/wood. |
| Soybean meals | 286,20 | $/t |
| Soybean oil | 42,61 | cts/livre |
Closing of the Euronext futures market on December 13, 2024
| Colza (Euronext) | |
|---|---|
| Echéance | Fence |
| Feb. 2025 | 547,00 |
| May 2025 | 530,50 |
| August 2025 | 481,25 |
| Volume | 30522 |
| Rapeseed oil (Euronext) | |
|---|---|
| Echéance | Fence |
| Mars 2023 | 698,50 |
| June 2023 | 698,50 |
| Sept. 2023 | 698,50 |
| Volume | 0 |
| Rapeseed meal (Euronext) | |
|---|---|
| Echéance | Fence |
| Mars 2023 | 196,25 |
| June 2023 | 196,25 |
| Sept. 2023 | 196,25 |
| Volume | 0 |
International market quotes from December 13, 2024
| Energy | Echéance | Closing value |
|---|---|---|
| Oil (Nymex) | Jan. 2025 | 71,29 $ |
| Ocean freight indices | from December 13 | Variation |
|---|---|---|
| Baltic Dry Index (BDI) | 1051 | -4,00 |
| Baltic Panamax Index (BPI) | 995 | -26,00 |
| Baltic Capesize Index (BCI) | 1263 | 11,00 |
| Baltic Supramax Index (BSI) | 959 | -2,00 |
| Baltic Handysize Index (BHSI) | 618 | -8,00 |
