European market

The prices continue to evolve in a downward trend amid new publications of production increases. After the last rise in wheat harvest forecasts in Russia, Canada and Australia, the EU wheat market is absorbing now the additional volumes posted this week in Germany. In such a context, Euronext wheat prices for December 2025 contract are down yesterday to a new low at €188/t before recovering to close at €189.75 /t.
Without giving a specific figure, the Buenos Aires Stock Exchange also expresses its optimism about the next wheat harvest in Argentina, with crop conditions improving after the recent rains.
Corn is down following wheat while keeping a little support linked to the disappointments of the expected harvests in France and Eastern Europe. In Ukraine, Argus Media estimates the 2025 corn production at 31.3mn t against 26.9mn t last year, which remains 9% below the five-year average.
Rapeseed is trying to keep the support of €460/t on the November 2025 contract, once again narrowly saved yesterday. The intensifying harvest pressure on canola in Canada as well as the weakening of vegetable oils are added to the pressure exerted by the last strong rapeseed harvest in the European Union. On the new campaign, the rains of the last few days are on the whole beneficial for the recent rapeseed seedlings in France.

American market

Another session of decline was seen yesterday for wheat in the United States. The three active futures contracts on SRW Chicago, HRW Kansas City and HRS Minneapolis wheat all marked a new session low in December 2025, highlighting the global nature of the current decline.
While they were selling wheat, however, the funds yesterday bought corn and soybeans on Chicago. Debates are still going on about the yield potential of these two crops in the United States without questioning the idea of corn abundance.
Corn managed yesterday to close with a modest increase of +$1.75/b pending weekly export sales today. Soybeans are also trying to keep their levels with operators who are impatient with the lack of progress in trade negotiations with China.

Black Sea market

Click here to request full access to the AgriMarkets report to find out more about the Black Sea region, and follow price trends in Russia on a daily basis.