Financial agricultural market France and Europe

The oilseeds find strength, the cereals are volatile

Wednesday, the markets of cereals remained hesitant, kicked up a rumpus by repositionings of funds in a world macroeconomic context increasingly more dubious. The oilseeds, them, disregarded of it. They found firmness in the good behavior of the courses of oil (beyond the 100$ barrel). In addition to the Atlantic, the investors played the spread wheat-corn which had been well reduced these last days, making corn relatively expensive compared to wheat. The wheat initially began the meeting in rise, then lost advance on profit-takings. The corn yielded close to 15c$/bu to the closing of Euronext, while soya gained 15c$/bu. The delay of the harvest of soya in Brazil gave renewal to the courses of broad bean in Chicago. The times in the calendar of marketing of Brazilian seed induce a prolonged request of American seed whereas estimated stock 2011 is posted well low. Finally, soya improved its competitiveness vis-a-vis corn in the race with the rotations which will begin at the end of the month in Corn Belt…. if the conditions weather allow it! In the current context dominated by an extreme topicality in the Middle East and in North Africa, the fundamental ones are temporarily eclipsed, in particular on wheat. They will return in the market from here the end of the campaign to point out a world situation criticizes for the miller.

French market
The prices on the physical markets evolve little. The operators are wait and see in an international context disturbed by the delicate geopolitical situation in the Middle East and in North Africa, first world importing region of wheat.

British market
Yesterday, the LIFFE finished in fall on the whole of the expiries. The contracts May 11 and Nov.11 respectively enclosed with £200.25/t (- £2.25) and £161/t (- £2). On the foreign exchange market, Sterling had posted itself with higher for 13 month in closing to 1.6344$. Vis-a-vis the single currency, the British currency remained firm while treating with 1.1770€.

Market Black Sea
The market of cereals continues to go up to Ukraine (2200 grv/t for wheat classifies 2). On the other hand, the market of the sunflower is stabilized following the agreement made between the triturating machines and the government not to raise the prices of oil and seed!