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Fryer's EU - Black Sea Report
26 Jun 2015
Page 1/2
WHEAT
Futures
Previous
Close Jun 25
Change
Fob 25kt
€
Jul
Aug
Sep
Fob$
Jul
Aug
Sep
Matif (€)
Dec
186.25
187.75
1.50
Sep
184.25
185.50
1.25
France (€)
11 pro
182.64
183.57
186.50
0.00
Azov
166.0
169.0
171.0
Mar
188.50
189.75
1.25
German/Baltic (€)
12.5 pro
14 pro
196.75
206.75
193.75
203.75
195.75
205.75
Russian 12.5 pro
Marmara
Big Port
188.0
193.0
191.0
191.0
193.0
196.0
* Milling
Sep*
185.00
186.50
1.50
July
110.55
111.05
0.50
Costanza (€)
12.5 pro
178.50
178.50
181.50
Liffe (£)
Nov
125.05
125.55
0.50
Fob 25kt
$
Jul
Aug
Sep
Ukraine 25kt
12.5 pro
11.5 pro
193.0
189.0
191.0
187.0
196.0
192.0
Egypt
Algeria
Morocco
France
11 pro
204.74
205.78
209.07
C&F Egypt
204.0
202.0
207.0
Freight (Handies)
Rouen
B. Sea
14
11
16
n/a
11
14
German/Baltic
12.5 pro
14 pro
220.56
231.77
217.19
228.40
219.44
230.65
Ukraine
185.0
183.0
186.0
Feed 25kt
UK
196.5
199.3
202.0
Costanza
12.5 pro
200.10
200.10
203.46
Fob$
France
n/a
n/a
n/a
Chicag beans shot to 20¢ gains and 15-week highs, dragging US wheat 12¢ higher in their wake
and helping put a bid under Matif wheat although the gains were far more muted with the
weather arguing for rapid harvest progress through the first half of July. EU premiums were
up €1 in Rouen, unchanged elsewhere, export demand remained flat and the €uro was unchanged
despite another Greek impasse. Activity in the Black Sea was limited and prices were illdefined, but ongoing rains in southern Russia (flash floods in Sochi) are starting to take a
toll: the 12.5 pro market is creeping higher in the nearby, the 11.5 pro discount is
widening, and Turkish importers who favour the 13.5 and 14.5 pro varieties are struggling to
find offers. The forecast continues wet for at least another week, whilst extreme heat
persists in parts of the spring wheat regions (see page 2). The Ruble was slightly weaker,
Brussels gave 370kt (page 2).
Fob (4kt)
Jul
Aug
Sep
Fob 25kt($)
Jul
Aug
Sep
Baltic (€)
168.75
168.75
169.75
UK (€)
163.23
160.43
164.63
France
201.10
202.14
203.18
Germ/Baltic
194.77
194.77
195.89
Fob 25kt
UK
190.84
187.34
191.68
France (€)
175.64
176.57
177.50
BARLEY
Germ/Balt
173.75
173.75
174.75
UK (€)
170.24
167.44
171.64
B. Sea
175-180
177-182
177-182
Argie
n/a
n/a
n/a
Aussie WA
240
240
240
Freight Jeddah
N. Europe
23.00
B. Sea
20.00
Argie
38.00
Aussie
28.00
French barley premiums firmed €1-2 despite the higher Matif, lifting Fob US$ values above
$200 whilst other origins remained largely unchanged, although like the wheat, Russian
barley is starting to suffer from the rains. Canadian sources are starting to sizeably cut
wheat and canola crop prospects, and whilst no particular mention has been made of barley,
it presumably has not escaped the dryness.
CORN
Futures
Previous
Close Jun 25
Change
Matif (€)
Aug
167.00
169.00
2.00
Nov
167.75
169.25
1.50
Budapest Nov
Huf
€
41'600
134.15
41'800
133.53
200
-0.62
Jun
JAS
ON
Fob*
Fr Bay €
155.0
157.0
167.0
Fob*
Rhine €
141.0
143.0
161.0
Fob
Danube €
139.0
141.0
133.0
Fob
Costanza €
159.0
161.0
153.0
Fob
Ukraine $
182.5
185.8
175.6
It was a quiet day for European corn. Matif corn rose for the 4th straight day amidst
concern over the next 10 days of significant heat and virtually zero rain across most of
France, but particularly in the south-west. Matif closed at a 10-week high, but whilst Fob
sellers raised their offered levels on the back of it, the buyers just went home citing the
ongoing near perfect conditions in Ukraine and the continued C&F offers which seriously
undercut French levels. The bid-offer on Ukraine new crop was little changed, despite
another near 10¢ hike at the CBOT, but we heard no trade. The Hryvnia firmed slightly,
Brussels gave 200kt imports maintaining the Oct-Sep pace of 9.25 Mmt.
26 Jun 2015
Fryer's EU - Black Sea Report
Page 2/2
Brussels Certificate Update 2014/15
Exports
Last Week
Season To date
Year Ago
Total 13/14
Soft Wht
361
31'033
27'735
28'020
Flour
13
1'083
1'056
849
Durum
3
1'010
846
1'063
All Wheat
377
33'126
29'637
29'932
Barley
7
8'660
5'485
5'737
Corn
74
3'556
2'597
2'626
Imports
Last Week
Season To date
Year Ago
Total 13/14
Soft Wht
42
3'074
1'722
1'760
Flour
1
30
32
1'845
Exchange
€
£
Huf
Rub
UAH
Swissie
Ind Rupee
Turk Lr
Durum
48
2'705
1'795
33
$
1.1210
1.5720
279.250
54.6500
21.0000
0.936
63.5150
2.6550
All Wheat
91
5'809
3'549
3'638
Change
0.0025
0.0050
2.0000
0.1500
-0.7500
0.0005
-0.0150
-0.0220
Barley
13
76
34
34
€
1
1.4023
313.039
61.2627
23.5410
1.0493
Corn
Jul-Jun
209
9'121
14'363
14'509
Change
0
0.0013
2.9351
0.3044
-0.7864
0.0029
Rye
1
181
166
166
Oct-Sep
209
6'856
13'709
Oats
4
217
274
274
Pro rata
Annual
9'408
Total
463
45'740
38'159
38'735
Total
314
15'119
18'142
18'377