Future contracts: Corn - CBOT, Chicago, USA; Corn - MATIFF, Paris; Corn - BMF, San Paulo, Brasilia; Corn - Budapest

AgriCharts Market Commentary

Corn
Corn futures closed higher but well off of their daily highs, supported by renewed concerns for a smaller corn crop in S America, a lower US dollar index and asset allocation moves. DJ survey average estimates showed 753 million bushels expected 2011/12 ending stocks. Another survey puts the average guess at 749 million. The USDA Export Inspections report this morning showed 33.899 million bushels inspected for export for the week ending January 5th with a total increase of 34.378 million bushels from last week after revisions to prior data. This is 13.296 million bushels more shipped out than for the same week last year. YTD shipments are 19.3 million bushels below last year at this time. They had been trailing by 30-40 million bushels. Index funds bought an estimated 5,000 contracts today as part of their annual asset allocation adjustment. Mar 12 Corn closed at $6.52, up 8 1/2 cents, May 12 Corn closed at $6.59 1/2, up 8 3/4 cents, Jul 12 Corn closed at $6.64 1/2, up 8 3/4 cents Dec 12 Corn closed at $5.83 1/2, up 8 1/4 cents

Corn - CBOT, Chicago, USA

10/01/2012 12.00 am Kiev

Do expect bullish in begining of 2012 year

NYSE Liffe London. Feed Wheat Futures; Feed Wheat - Asx, Australia; Feed Wheat - Bud, Hungary

NYSE Liffe London. Feed Wheat Futures

Unit of trading: GBP One hundred tonnes
Origins tenderable: EU
Quality:
Natural weight: min 72.5 kg per hectolitre.
Moisture content: max 15%.
Sprouted wheat: max 8%.
Heat damage: max 3%.
Admixture: max 2%
  (seeds and/or total admixture of farinaceous grain   including wild oats)
   Out of which
    - dirt of which the dirt content max 1%;
    - ergot or garlic not to exceed 0.001%; and
All the above tests to be applied on weight basis.
Sound and sweet and in good condition.

A futures contract

A futures contract is a commitment to make or take delivery of a specific quantity and quality of a given commodity at a specific delivery location and time in the future. All terms of the contract are standardized except for the price, which is discovered via the supply (offers) and the demand (bids). This price discovery process occurs through an exchange’s electronic trading system or by open auction on the trading floor of a regulated commodity exchange.

CBOT Corn, Wheat, Soya, Soya Oil, Soya meal (up right coner date of update)

MATIFF Maize, Wheat, Rapeseed

All contracts are ultimately settled either through liquidation by an offsetting transaction (a purchase after an initial sale or a sale after an initial purchase) or by delivery of the actual physical commodity.

Rapeseed - MATIFF, Paris

Conditions
FOB/mt
Unit of trading: Fifty tonnes
Origins tenderable: Any origin
Quality: Double zero variety, of sound, fair and merchantable quality of the following standards:

Oil content: basis 40% +/- 1.5% for each 1%
Moisture: max 9% +/- 1% for each 1%
Impurities: basis 2% max 3% +/- 1% for each 1%
Oleic acidity: max 2%
Erucic acid content: max 2%
Glucosinolates content: max 25 micromoles

Soybean - CBOT, Chicago, USA

15/02/2012 comments avalable upon request

10/01/2012 12.00 am Kiev Soybeans
Soybean futures closed much higher with support from a weaker US dollar, support from a rally in feed grains (which helped meal) and changes in asset allocation. DJ survey average estimates showed 227 million bushels expected 2011/12 ending stocks. An Israeli group is seeking up to 21 TMT US or S American soymeal. Rain is still expected this week in Argentina, but the extended forecasts are warmer and drier. The USDA Export Inspections report this morning showed 31.969 million bushels inspected for export for the week ending January 5th with a total increase of 34.416 million bushels from last week after revisions to prior data. This is 4.546 million bushels less than was shipped out than for the same week last year. YTD shipments are 244 million bushels below last year at this time. Jan 12 Soybeans closed at $12.25 3/4, up 36 1/4 cents, Mar 12 Soybeans closed at $12.33, up 36 1/2 cents, May 12 Soybeans closed at $12.42, up 36 cents, Nov 12 Soybeans closed at $12.21 3/4, up 30 1/2 cents, Jan 12 Soybean Meal closed at $320.20, up $10.60, Jan 12 Soybean Oil closed at $52.02, up $1.22

LIFFE, London, FOB USD/mt

Unit of trading: Fifty tonnes

Quality: White beet, cane crystal sugar or refined sugar of the crop current at the time of delivery, free running of regular grain size and fair average of the quality of deliveries made from the declared origin from such crop, with:
- polarisation minimum 99.8 degrees,
- moisture maximum 0.06% and
- colour of a maximum 45 units ICUMSA attenuation index,
 all at time of delivery to vessel at the port.

Delivery months: March, May, August, October, December, such that eight delivery months are available for trading.

CBOT Chicago Wheat Futures; Milling Wheat - Asx, Australia; Euro Wheat - Budapest, Hungary; Futures MATIFF, Paris, France - milling wheat;

CBOT Chicago Wheat Futures Mar-12

AgriCharts Market Commentary

Wheat
Wheat futures closed higher on all 3 exchanges with MGEX lagging the other two. DJ survey average estimates showed 831 million bushels expected 2011/12 ending stocks. A class action lawsuit is likely being filed against the Canadian government for the assets of the Canadian Wheat Board (Reuters). CBOT position limits will be doubled from Jan 17th which would allow index funds to hold more and could affect wheat contracts at the other exchanges (Reuters). The average trade estimate for US 2012 winter wheat acres is near 40.9 million, vs. 40.6 million last year. The average guess for HRW was 29.4 million acres vs. 28.5 last year. SRW was 7.8 mil vs 8.6 last year. The USDA Export Inspections report this morning showed 10.784 million bushels inspected for export for the week ending January 5th with a total increase of 10.839 million bushels from last week after revisions to prior data. This is 14.937 million bushels less shipped out than for the same week last year. YTD shipments are now 75 million bushels below last year at this time. Mar 12 CBOT Wheat closed at $6.41 3/4, up 17 cents, Mar 12 KCBT Wheat closed at $6.98, up 18 cents, Mar 12 MGEX Wheat closed at $8.09 3/4, up 8 3/4 cents

10/01/2012 12.00 am Kiev