European market
A strong downward movement marked yesterday's session, both on the Euronext and physical markets. The prospect of an improvement in the situation in the Persian Gulf has led to a strong downward movement in energy prices, a movement that has spread to other raw materials with a return of sellers. The American and Iranian announcements, as well as the evolution of the situation at the level of the Strait of Hormuz, have strongly animated the financial markets and, by repercussion, the prices of raw materials.
The prices of rapeseed in new harvest recorded a strong decline yesterday, in the wake of crude oil prices but also of those of vegetable oil. Rapeseed oil recorded a decline yesterday for the delivery periods of the second half of 2026, marking a change compared to the strong upward momentum of recent weeks. The August 2026 contract is now back below the level of €520/t closing yesterday at €517.25 /t.
In grains, corn prices fell, marking a strong decrease compared to the last sessions. The corn contracts for the 2025 harvest are down by more than -6 €/t, with the June 2026 contract on Euronext falling back below 220 €/t. In wheat, prices were also trading down in the new harvest. The operators also integrate the result of the OAIC's call for tenders. Algeria has reportedly contracted a large volume of wheat for the month of July at price levels suggesting a positioning of Black Sea origins.
American market
On the announcement of a possible end of the conflict between the USA and Iran and the suspension of the American escort mission at the Strait of Hormuz, crude oil prices marked a sharp correction, pushing other raw materials to follow the same downward movement. In Chicago, prices have marked a decline in different proportions depending on the products. The funds have sought to reduce their positions by selling numerous lots, both in corn and soybeans. The downward movement was violent in corn, where prices fell on yesterday's session alone by more than -10 cents, both on the current harvest and on the new campaign. The prices mark a sharp correction and retrace a large part of the recent upward movement.
The oilseed market also marked a strong decline. Vegetable oil prices, after having marked a new high the day before, were down, closing for the May 2026 contract just above c$75/lb. The downward movement observed already the day before in soybeans was accentuated yesterday, with seeds that fall back below $ 11.80 /bu on the May 2026 contract.
The downward movement also affected wheat prices, both HRW and SRW. Winter wheat producers remain attentive to the weather forecast, with many production areas still dry. The July 2026 contract, for the HRW contract, falls below the level of $6.90/bu. In SRW wheat, the July contract also falls below $ 6.20 /bu and regains a level equivalent to that of last April 24.
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.
