Markets await the outcome of the US election
On a weekly basis, grain contract prices on global exchanges changed symbolically. Only the November corn contract on the Paris exchange lost more than d 3 percent, but this is more a result of the approaching end of trading for this series (5.11). In the commodity as well as financial markets, the wait for the outcome of the US presidential election continues, and until then, no major price changes are likely to be expected.
.
Read more
German grain and feed imports from Ukraine are growing. The government sees no threats .
Wheat in the contract for December delivery on MATIF on Friday cheapened by 0.5 percent and cost 217.00 euros/ton (PLN 945/ton), and in y/y terms the quotation fell 6.3 percent. For the week, the price rose 0.1 percent. The price of corn on the Paris Exchange in the November contract rose 0.9 percent to 200.00 euros/t (PLN 871/t), and for the past year rose 0.8 percent. On a weekly basis, quotations fell 3.5 percent.
Read more
Wheat on the CBoT in the December contract on Friday cheapened by 0.4 percent and cost $208.70/ton. On a y/y basis, quotations rose 1.1 percent. For the week, the price fell 0.2 percent. The price of corn in the contract for December delivery on the Chicago exchange rose 0.9 percent to $163.18/ton, down 12.7 percent for the past year. On a weekly basis, quotations fell 0.2 percent.
EU wheat harvest lowest in 12 years
On October 31, the European Commission released the latest forecasts for the EU grain harvest in the 2024/25 season. The wheat harvest is expected to be down by as much as 12.6 million tons from the previous season, at 112.6 million tons (it will be the lowest since 2012). Among the largest EU producers, yields are projected to fall – in France by 9.6 million t to 25.2 million t, in Germany by 2.9 million t to 18.2 million t and in Poland by 0.8 million t to 12.3 million t.
The EC forecasts a decline in the current season’s corn harvest by 3.3 million t to 58.0 million t (a 2.4 million t m/m drop in forecasts). Among the EU’s largest producers, yields will rise in France, up 1.2 million t to 14.2 million t, and fall in Romania, down 1.9 million t to 6.8 million t, while in Poland they will rise 0.5 million t to 9.7 million t. (a historic production record).
.
Read more
Do winter crops have good hardening conditions?
MATIF wheat, December contract – price on Friday fell by 0.46 percent (€217.00/t – PLN 945/t).
Figure 1.
December wheat futures quotes expressed in PLN are shown in the chart below:
Chart 2
.
On the following continuation chart of wheat contracts traded on the Paris Exchange, the long-term trend is down, the medium-term trend is up, the short-term trend is up.
Chart 3
.
CBOT wheat, December contract – price down 0.44 percent ($208.70/ton – $836/ton).
Chart 4
.
The Chicago Stock Exchange currently has a long-term downward trend, the medium-term trend is downward, the short-term trend is upward.
Chart 5
.
MATIF corn, November contract – price increased by 0.88 percent (200.00 euros/ton – 871 zloty/ton).
Chart 6
.
November corn futures quotes expressed in PLN are shown in the chart below:
Chart 7
.
On the following continuation chart of corn futures traded on the Paris Exchange, the long-term trend is down, the medium-term trend is up, the short-term trend is up.
Figure 8
CBOT corn, December contract – price increased by 0.91 percent ($163.18/ton – $654/ton).
Figure 9
.
On the continuation chart of CBOT-listed corn contracts, the long-term downward trend is dominant, the medium-term trend is downward, the short-term trend is upward.
Chart 10
.
