European market
The strong movements observed on the crude oil market animated all the markets yesterday, obviously raising risks concerning the evolution of inflation and an economic slowdown. Crude oil prices in New York have marked a sharp rise, closing the week on a new high since the end of June 2022, because of the Good Friday, a non-working day in many financial centers. The dynamics on Brent in London are slightly different, with prices also rising but simply back on the recent highs of last week. Currencies also show a strong amplitude of variation, favouring a systematic adjustment of prices, in particular those of agricultural raw materials.
On Euronext, the price of grains showed an increase of around +€1.25/t compared to the previous day on the front contracts. The easing of the euro provides a slight support after the decline of the previous day.
In rapeseed, after having displayed a certain firmness at the beginning of the day in the wake of crude oil prices, seed prices closed the day with a timid increase of +1 €/t to 505.75 €/t. The August 2026 contract, after having traded in session above 500 €/t, finally closed below this level.
American market
The closure of the US market on Friday led traders yesterday to adjust their positions after a week of high volatility. The CME market will reopen next Monday, April 6, after a three-day weekend for US financial operators. The grain market is very sensitive to announcements concerning developments in the Middle East, with the direct effect of maintaining a strong tension on energies, like crude oil which rebounded by +13% in yesterday's session in New York. This element has also supported the rebound in soybean oil prices in Chicago. The May 2026 contract closed the session on a new clearing high at $ 68.94/lb, very close to the resistance of $ 69/lb and the recent highs traded in session.
On the other hand, soybean and corn prices closed down compared to the previous day, impacted by the weekly export sales figures. The USDA reported yesterday a decrease in activity over the past week compared to the previous one. The recent strengthening of the dollar is weighing on the US export activity. The wheat figures also show a strong decline, in a context where the export activity since the beginning of the campaign has been excellent.
Black Sea market
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