European market

The European grain market remains pressured with prices closing down again on all Euronext products. The selling pressure remains dominant with funds actively liquidating their positions further. The global geopolitical and macroeconomic context adds to the fundamental and commercial arguments to fuel sales.
International trade is very calm this weekend, both because of the European Trade Exchange currently being held in Rotterdam and because of the wait-and-see attitude of importers before the negotiation meeting scheduled for next week between Russia, Ukraine and the United States.
On the financial markets, the American stock exchanges welcome with a sharp decline the change of parliamentary majority in the United States. US technology stocks are the ones that are plunging the most with a NASDAQ down by -5.5%. This downward was described as "black Thursday" yesterday on Wall Street.
Crude oil manages to bounce back above $90/barrel in New York. It remains in a very sharp decline over the week in anticipation of a de-escalation of the war between the United States and Iran. Nevertheless, the continuous disruption of flows in the Middle East is supporting prices this end of the week.
This slight rebound in crude oil was not enough to support the European rapeseed. With closing down -2 €/t to 526 € / t, the February2027 rapeseed contract returns to the lowest since 24 August.
Wheat and corn are are also down closing with a respective decline on the Euronext front contracts of -1 €/t and -1.75 €/t.

American market

The bearish mood of the moment on the international grain market, crude oil and yesterday on the equity market in New York has come to weigh even more on prices in Chicago.
Only wheat stands out and manages to close very timidly higher. The December 2026 contract for SRW wheat in Chicago remains very close to its support of $6/bu. US wheat welcomes very good export sales for the second consecutive week. The USDA has announced the sale of 538,028 t of US wheat over the past week, which is the second best weekly performance of the current campaign. This demonstrates the renewed competitiveness of US wheat at current price levels, especially for Asia.
Corn and soybeans remain pressured in the context of the funds' position liquidations and the harvest pressure. Soybeans are also the product that recorded the strongest decline yesterday.
The weekly export sales of US corn published by the USDA are considered correct with 1.3 Mt but nevertheless at the 3-months lowest.

Black Sea market

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