European market

The geopolitical situation in the Black Sea remains at the heart of market discussions and one of the main sources of volatility at the moment. New strikes yesterday reignited concerns with the corollary of a new outbreak of fever on wheat futures contracts on both sides of the Atlantic.
On Euronext, wheat September 2026 jumped up to + €9/t at the beginning of the session to finally close at + €3 /t. The skepticism and caution that have appeared for a week are now integrated in the marker confirmed by limited exports from the region.
Corn and rapeseed followed the progress of wheat to a lesser extent. They end in decline under the downward influence of corn and soybeans. Rapeseed also suffers from the weakening of vegetable oils.
In general, European prices were penalized yesterday by the sudden rise in the euro / dollar which this morning reaches 1.1512, a high since last June 17. Between the status quo of the FED, the signs of resilience of the eurozone economy and the expectations of rising inflation to be published today, the support elements to the euro.
On the international scene, Tunisia is one of the few countries in the North Africa / Middle East zone to regularly launching tenders. Yesterday, it bought 75,000 t of soft wheat and 50,000 t of feed barley.
In Europe, the European Commission confirms this summer's production degradations with the following figures for the 2026-27 harvest :

Soft wheat: 124.4 Mt, against 126.3 Mt expected last month.
Barley: 51.05 Mt, against 51.7 Mt expected last month
Rapeseed: 19.8 Mt, stable compared to last month
Corn: 51.9 Mt, against 59.9 Mt expected last month
Sunflower: 9.5 Mt, against 10.1 Mt expected last month.

American market

Wheat in Chicago remains very sensitive to the tensions and blockages present on the Black Sea, but corn and soybeans remain dominated by the evolution of climatic conditions in the United States. After a period of hot weather and water deficit in the west of the Corn Belt which has supported prices in recent weeks, the two products marked a decrease. The prospects of more moderate temperatures and beneficial rains from this weekend are reassuring, especially for soybeans, which are very sensitive at this time. 
The wheat market lost its bullish momentum yesterday in Chicago after the publication of weekly export figures by the USDA quite low at 285,000 t. 
In corn, weekly export sales amount to 363,000 t in 2025-26 and 1,062 Mt in 2026-27. 
In soybeans, weekly export sales amount to 302,000 t in 2025-26 and 1,333 Mt in 2026-27.

Black Sea market

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