European market

In this first week of January, when the physical markets operators should be back from holiday, the market will have to integrate several important geopolitical elements after the events of the weekend both in Venezuela and in Syria. Crude oil prices at the reopening this morning show a slight decline, as does the euro. The euro / dollar parity, which was already moving down on Friday, is showing a new decline by falling back below the level of 1.17 and even coming to test the level of 1.1670 overnight.
This downward movement of the euro will mechanically lead to an adjustment in commodity prices at the beginning of the week. Prices on Euronext have indeed recorded a decline on Friday on all grains in a volume of trade down compared to usual. The largest amplitudes of variation recorded concerned the rapeseed market. The February 2026 contract, after trading below €450/t during the session, finally closed at €451.75/t. The following contracts of May and August, on the other hand, marked a strong decline by closing the first session of the year 2026 down by -5 to -5.75 €/t.
In grains, the downward movement was limited both in wheat and corn on Friday's session.

American market

The first session of the year was marked, Friday, January 2, by a price decline of the entire soybean complex in Chicago. At the same time, the activity was reduced after the New Year's holiday. The price differential between Brazilian origins and US origins imposes a downward price adjustment in the USA. The soybean front contract in Chicago is back at the lowest levels since mid-October. The January 2026 contract, which closes soon, has returned to trading during the session under $ 10.30 /bu. The downward movement has also pushed down the prices of meals and soybean oil.
Corn prices have marked a new decline and are back to the support zone of recent weeks. The latest weekly export sales figures, although strong, provided little support last week, as did the new corn sale announced by the USDA to South Korea.
For wheat, after having marked a new session low for the March 2026 contract, prices finally closed the day almost unchanged.

Black Sea market

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