European market

Prices on Euronext slipped yesterday despite a slight easing of the euro against the dollar, which fell back below 1.1850. Oil prices also retreated as new negotiations began between the United States and Iran. Observers remain cautious in light of the recent military tensions between the two sides, especially since no agreement has been announced so far. Nevertheless, hopes for a compromise are helping ease prices. WTI crude is now approaching 62 $/b in New York.

Wheat and corn prices showed a slight decline yesterday amid currently lacklustre export demand. Regarding corn imports, the latest figures from the European Commission confirm the growth of US and Brazilian origins, compared with Ukrainian corn, which remains the EU’s main source of supply.

Oilseed imports are also increasing, according to the weekly figures available from the Commission. New volumes of rapeseed from Australia have been reported. On Euronext, after the previous day’s rise, rapeseed prices for the May 2026 contract fell back below 490 €/t, weighing on the following contracts as well.

American market

Still supported by hopes of renewed activity from China, soybean prices are showing fresh firmness. The nearby Mar 26 contract is once again trading above 11.40 $/bu in overnight dealings. Exporters are nevertheless waiting for this to translate into actual sales volumes, now facing the return of Brazilian availability. The arrival of new soybean volumes in Brazil is indeed something to watch as harvest progress continues. However, harvesting could slow in the coming days in direct connection with the rainfall forecast by weather models.

In grain, corn and wheat prices moved lower in Chicago. Funds executed some selling after the recent rebound, thus supporting the downward retracement. The March 26 corn contract is now back trading below 4.30 $/bu. Wheat prices for the March 26 contract closed yesterday below 5.40 $/bu. The announced return of India to the export market, even for limited volumes and at currently uncompetitive price levels, nonetheless brings back into focus the large volumes available this season from the main exporting countries.

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.