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Page 1: DG AGRI DASHBOARD: CEREALS - CIRCABC - … AGRI DASHBOARD: CEREALS Sources : European Commission (DG ESTAT, DG JRC, DG AGRI, DG TAXUD), European Central Bank, IGC, ICE, The Baltic

DG AGRI DASHBOARD: CEREALS

Sources : European Commission (DG ESTAT, DG JRC, DG AGRI, DG TAXUD), European Central Bank, IGC, ICE, The Baltic Exchange, CME, MATIF, France Agrimer

Last update: 24.05.2018P

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EU (milling) & US (SRW) wheat futures - 60 days CME US maize & soybeans futures - 60 days Monthly avg: currency - oil - freight

€/t $/t €/t $/t €/t $/t

US Gulf (SRW) 196 230 10% 6% 23% 28%

US Gulf (HRW) 217 254 11% 6% 21% 26%

EU Rouen (grade 1) 176 206 5% 0% 5% 10%

CA St Lawrence (CWAD) n.q. n.q. - - - -

EU Port-la-Nouvelle n.q. n.q. - - - -

Black sea (feed) 175 205 -2% -6% 22% 28%

EU Rouen (feed) 176 206 2% -2% 17% 23%

US Gulf (3YC) 165 193 4% 0% 14% 20%

EU Bordeaux 173 202 4% 0% 1% 6%

soybeans US Gulf (2Y) 346 405 3% -2% 6% 11%

maize

23 May 2018 m/m variation y/y variationExport prices FOB

durum

wheat

wheat

barley

130

145

160

175

190

205

0

20

40

60

80

100

120

24/03 03/04 13/04 23/04 03/05 13/05 23/05

€/t

Euronext milling wheat futures

Daily Volume

SEP'19: 183

MAR'18: 185

SEP'18: 179

Dai

ly t

rad

ed v

olu

me

(10

00

co

ntr

acts

of

50

to

ns)

140

145

150

155

160

165

170

175

180

0

150

300

450

600

750

900

1050

1200

24/03 03/04 13/04 23/04 03/05 13/05 23/05

$/t

CME Maize futures

Daily volume

JUL'19: 174

DEC'18: 168

JUL'18: 161

Dai

ly t

rad

ed v

olu

me

(10

00

co

ntr

acts

of

12

7 t

on

s)

191

173

179

140

150

160

170

180

190

200

May-17 Aug-17 Nov-17 Feb-18 May-18

€/t Wheat - monthly avg. export prices (fob)

US Gulf EU Rouen Black Sea

163

171

169

125

135

145

155

165

175

185

May-17 Aug-17 Nov-17 Feb-18 May-18

€/t Maize - monthly avg. export prices (fob)

US Gulf EU Bordeaux Black Sea

2088

1054739

355

0

1000

2000

3000

cereals maize wheat soybeans

World production (million tonnes)

2015/16 2016/17 (est) 2017/18 (f'cast) 2018/19 (proj.)

306

142

64 61

0

100

200

300

400

cereals wheat maize barley

EU production (million tonnes)

2015/16 2016/17 2017/18 (est) 2018/19 (f'cast)

560

262257

40

0

200

400

600

800

cereals maize wheat soybeans

World stocks (million tonnes)

2015/16 2016/17 (est) 2017/18 (f'cast) 2018/19 (proj.)

47

15 21

7

0

10

20

30

40

50

60

cereals wheat maize barley

EU stocks (million tonnes)

2015/16 2016/17 2017/18 (est) 2018/19 (f'cast)

77

40

50

60

70

80

May-17 Aug-17 Nov-17 Feb-18 May-18

Brent Crude Oil $/barrel

150

160

170

180

190

200

210

220

230

0

50

100

150

200

250

300

350

400

450

500

24/03 03/04 13/04 23/04 03/05 13/05 23/05

$/t

Chicago (CME) SRW futures

JUL'18: 195

DEC'18: 209

JUL'19: 220

Daily volume

Dai

ly t

rad

ed v

olu

me

(10

00

co

ntr

acts

of

13

6 t

on

s)

350

360

370

380

390

400

410

420

0

100

200

300

400

500

600

700

800

900

1000

1100

24/03 03/04 13/04 23/04 03/05 13/05 23/05

$/t

Chicago soybeans futures

Daily volume

JUL'18: 382

AUG'18: 383

SEP'18: 384

Dai

ly t

rad

ed v

olu

me

(10

00

co

ntr

acts

of

13

6to

ns)

1407

600

800

1000

1200

1400

1600

1800

May-17 Aug-17 Nov-17 Feb-18 May-18

Freight (Baltic dry index)

1.19

1.03

1.07

1.11

1.15

1.19

1.23

1.27

May-17 Aug-17 Nov-17 Feb-18 May-18

Exchange rate € vs $ $

Wheat imports

Coarse grain imports

Wheat exports

Coarse grain exports

Trade balance

30

20

10

0

10

20

30

40

50

Mil

lio

n to

nn

es

Marketing Year (July-June)

Cereals: 17 marketing years trade evolution (EU28 countries)

2016/17 25.1

0

10

20

30

0

300

600

900

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

To

tal

MY

-m

illi

on

to

nn

es

Week

ly v

olu

me -

tho

usan

d to

nn

es

w eek

Common wheat & flour - exports

2017/18 18.7Mt

Weeklyvolume

(current MY)

2016/17

8.4

0

4

8

12

0

200

400

600

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

To

tal

MY -

mil

lio

n to

nn

es

We

ek

ly v

olu

me

-th

ou

san

d to

nn

es

w eek

Barley, malt included - exports

2017/18 7.5Mt

Weeklyvolume

(current MY)

2016/17

13.1

0

4

8

12

16

0

200

400

600

800

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

To

tal

MY -

mil

lio

n to

nn

es

Week

ly v

olu

me -

tho

usan

d t

on

nes

w eek

Maize - imports

2017/18 15.4Mt

Weeklyvolume

(current MY)

Page 2: DG AGRI DASHBOARD: CEREALS - CIRCABC - … AGRI DASHBOARD: CEREALS Sources : European Commission (DG ESTAT, DG JRC, DG AGRI, DG TAXUD), European Central Bank, IGC, ICE, The Baltic

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€/t $/t €/t $/t €/t $/t

US Gulf (SRW) 196 230 10% 6% 23% 28%

US Gulf (HRW) 217 254 11% 6% 21% 26%

EU Rouen (grade 1) 176 206 5% 0% 5% 10%

CA St Lawrence (CWAD) n.q. n.q. - - - -

EU Port-la-Nouvelle n.q. n.q. - - - -

Black sea (feed) 175 205 -2% -6% 22% 28%

EU Rouen (feed) 176 206 2% -2% 17% 23%

US Gulf (3YC) 165 193 4% 0% 14% 20%

EU Bordeaux 173 202 4% 0% 1% 6%

soybeans US Gulf (2Y) 346 405 3% -2% 6% 11%

maize

23 May 2018 m/m variation y/y variationExport prices FOB

durum

wheat

wheat

barley

Sources: International Grains Council, France Agrimer

Page 3: DG AGRI DASHBOARD: CEREALS - CIRCABC - … AGRI DASHBOARD: CEREALS Sources : European Commission (DG ESTAT, DG JRC, DG AGRI, DG TAXUD), European Central Bank, IGC, ICE, The Baltic

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191

173

179

140

150

160

170

180

190

200

May-17 Aug-17 Nov-17 Feb-18 May-18

€/t Wheat - monthly avg. export prices (fob)

US Gulf EU Rouen Black Sea

Source: International Grains Council

Page 4: DG AGRI DASHBOARD: CEREALS - CIRCABC - … AGRI DASHBOARD: CEREALS Sources : European Commission (DG ESTAT, DG JRC, DG AGRI, DG TAXUD), European Central Bank, IGC, ICE, The Baltic

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163

171

169

125

135

145

155

165

175

185

May-17 Aug-17 Nov-17 Feb-18 May-18

€/t Maize - monthly avg. export prices (fob)

US Gulf EU Bordeaux Black Sea

Sources: International Grains Council, France Agrimer

Page 5: DG AGRI DASHBOARD: CEREALS - CIRCABC - … AGRI DASHBOARD: CEREALS Sources : European Commission (DG ESTAT, DG JRC, DG AGRI, DG TAXUD), European Central Bank, IGC, ICE, The Baltic

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2088

1054739

355

0

1000

2000

3000

cereals maize wheat soybeans

World production (million tonnes)

2015/16 2016/17 (est) 2017/18 (f'cast) 2018/19 (proj.)Source: International Grains Council

Page 6: DG AGRI DASHBOARD: CEREALS - CIRCABC - … AGRI DASHBOARD: CEREALS Sources : European Commission (DG ESTAT, DG JRC, DG AGRI, DG TAXUD), European Central Bank, IGC, ICE, The Baltic

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306

142

64 61

0

100

200

300

400

cereals wheat maize barley

EU production (million tonnes)

2015/16 2016/17 2017/18 (est) 2018/19 (f'cast)Source: European Commission – DG AGRI

Page 7: DG AGRI DASHBOARD: CEREALS - CIRCABC - … AGRI DASHBOARD: CEREALS Sources : European Commission (DG ESTAT, DG JRC, DG AGRI, DG TAXUD), European Central Bank, IGC, ICE, The Baltic

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560

262257

40

0

200

400

600

800

cereals maize wheat soybeans

World stocks (million tonnes)

2015/16 2016/17 (est) 2017/18 (f'cast) 2018/19 (proj.)Source: International Grains Council

Page 8: DG AGRI DASHBOARD: CEREALS - CIRCABC - … AGRI DASHBOARD: CEREALS Sources : European Commission (DG ESTAT, DG JRC, DG AGRI, DG TAXUD), European Central Bank, IGC, ICE, The Baltic

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47

15 21

7

0

10

20

30

40

50

60

cereals wheat maize barley

EU stocks (million tonnes)

2015/16 2016/17 2017/18 (est) 2018/19 (f'cast)Source: European Commission – DG AGRI

Page 9: DG AGRI DASHBOARD: CEREALS - CIRCABC - … AGRI DASHBOARD: CEREALS Sources : European Commission (DG ESTAT, DG JRC, DG AGRI, DG TAXUD), European Central Bank, IGC, ICE, The Baltic

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130

145

160

175

190

205

0

20

40

60

80

100

120

24/03 03/04 13/04 23/04 03/05 13/05 23/05

€/t

Euronext milling wheat futures

Daily Volume

SEP'19: 183

MAR'18: 185

SEP'18: 179

Dai

ly t

rad

ed v

olu

me

(10

00

co

ntr

acts

of

50

to

ns)

150

160

170

180

190

200

210

220

230

0

50

100

150

200

250

300

350

400

450

500

24/03 03/04 13/04 23/04 03/05 13/05 23/05

$/t

Chicago (CME) SRW futures

JUL'18: 195

DEC'18: 209

JUL'19: 220

Daily volume

Dai

ly t

rad

ed v

olu

me

(10

00

co

ntr

acts

of

13

6 t

on

s)

EU (milling) & US (SRW) wheat futures - 60 days

Source: MATIF Source: CME

Page 10: DG AGRI DASHBOARD: CEREALS - CIRCABC - … AGRI DASHBOARD: CEREALS Sources : European Commission (DG ESTAT, DG JRC, DG AGRI, DG TAXUD), European Central Bank, IGC, ICE, The Baltic

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140

145

150

155

160

165

170

175

180

0

150

300

450

600

750

900

1050

1200

24/03 03/04 13/04 23/04 03/05 13/05 23/05

$/t

CME Maize futures

Daily volume

JUL'19: 174

DEC'18: 168

JUL'18: 161

Dai

ly t

rad

ed v

olu

me

(10

00

co

ntr

acts

of

12

7 t

on

s)

350

360

370

380

390

400

410

420

0

100

200

300

400

500

600

700

800

900

1000

1100

24/03 03/04 13/04 23/04 03/05 13/05 23/05

$/t

Chicago soybeans futures

Daily volume

JUL'18: 382

AUG'18: 383

SEP'18: 384

Dai

ly t

rad

ed v

olu

me

(10

00

co

ntr

acts

of

13

6to

ns)

CME US maize & soybeans futures - 60 days

Source: CME Source: CME

Page 11: DG AGRI DASHBOARD: CEREALS - CIRCABC - … AGRI DASHBOARD: CEREALS Sources : European Commission (DG ESTAT, DG JRC, DG AGRI, DG TAXUD), European Central Bank, IGC, ICE, The Baltic

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77

40

50

60

70

80

May-17 Aug-17 Nov-17 Feb-18 May-18

Brent Crude Oil $/barrel

1407

600

800

1000

1200

1400

1600

1800

May-17 Aug-17 Nov-17 Feb-18 May-18

Freight (Baltic dry index)

Monthly avg: currency - oil - freight

Source: Intercontinental Exchange

Source: European Central Bank Source: The Baltic Exchange

1.19

1.03

1.07

1.11

1.15

1.19

1.23

1.27

May-17 Aug-17 Nov-17 Feb-18 May-18

Exchange rate € vs $ $

Page 12: DG AGRI DASHBOARD: CEREALS - CIRCABC - … AGRI DASHBOARD: CEREALS Sources : European Commission (DG ESTAT, DG JRC, DG AGRI, DG TAXUD), European Central Bank, IGC, ICE, The Baltic

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Source: European Commission – DG JRC

Page 13: DG AGRI DASHBOARD: CEREALS - CIRCABC - … AGRI DASHBOARD: CEREALS Sources : European Commission (DG ESTAT, DG JRC, DG AGRI, DG TAXUD), European Central Bank, IGC, ICE, The Baltic

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Source: European Commission – DG TAXUD

2016/17 25.1

0

10

20

30

0

300

600

900

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

To

tal

MY

-m

illi

on

to

nn

es

We

ek

ly v

olu

me

-th

ou

sa

nd

to

nn

es

w eek

Common wheat & flour - exports

2017/18 18.7Mt

Weeklyvolume

(current MY)

Page 14: DG AGRI DASHBOARD: CEREALS - CIRCABC - … AGRI DASHBOARD: CEREALS Sources : European Commission (DG ESTAT, DG JRC, DG AGRI, DG TAXUD), European Central Bank, IGC, ICE, The Baltic

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Source: European Commission – DG TAXUD

2016/17

8.4

0

4

8

12

0

200

400

600

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

To

tal

MY -

mil

lio

n to

nn

es

We

ek

ly v

olu

me

-th

ou

san

d to

nn

es

w eek

Barley, malt included - exports

2017/18 7.5Mt

Weeklyvolume

(current MY)

Page 15: DG AGRI DASHBOARD: CEREALS - CIRCABC - … AGRI DASHBOARD: CEREALS Sources : European Commission (DG ESTAT, DG JRC, DG AGRI, DG TAXUD), European Central Bank, IGC, ICE, The Baltic

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Source: European Commission – DG TAXUD

2016/17

13.1

0

4

8

12

16

0

200

400

600

800

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52

To

tal

MY -

mil

lio

n to

nn

es

Week

ly v

olu

me -

tho

usan

d t

on

nes

w eek

Maize - imports

2017/18 15.4Mt

Weeklyvolume

(current MY)

Page 16: DG AGRI DASHBOARD: CEREALS - CIRCABC - … AGRI DASHBOARD: CEREALS Sources : European Commission (DG ESTAT, DG JRC, DG AGRI, DG TAXUD), European Central Bank, IGC, ICE, The Baltic

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Source: Eurostat

Wheat imports

Coarse grain imports

Wheat exports

Coarse grain exports

Trade balance

30

20

10

0

10

20

30

40

50

Mil

lio

n to

nn

es

Marketing Year (July-June)

Cereals: 17 marketing years trade evolution (EU28 countries)