European market

This first week of June ends as it began,with prices down on the grain markets. On both sides of the Atlantic, the selling pressure is intensifying with funds massively liquidating their long positions on the various futures contracts. The good climatic conditions throughout the world, whether on the northern hemisphere as on the southern hemisphere, are highlighted as an explanatory factor of a movement that is self-fueling. Even the oilseed markets that were resisting the ambient downward pressure are starting to let go, like the rapeseed in sharp decline yesterday on Euronext.
The grains are diverging from crude oil market, which has been firming up little by little for the past week because of the confusion that reigns around the Persian Gulf and the negotiations that seem to have reached an impasse.
Some importing countries are taking advantage of the situation to buy cheaply, such as Tunisia, which yesterday finalized a purchase of 75,000 t at a price of $268.2 /t C&F.
The psychological level of €200/t on Euronext wheat nevertheless remains in place for the moment with a session low of €200.25/t yesterday on the September 2026 contract.

American market

The funds continue to massively sell their positions on the Chicago market in a liquidation movement that affects all products.
The temperature and humidity conditions seem ideal for the coming weeks on the Corn Belt, which weighs on corn and soybeans while US wheat is sensitive to echoes of rising harvest potential in the Black Sea.
The pressure of the South American corn harvests is also highlighted among the elements that is fueling the downward spiral of corn prices in Chicago.
The USDA published yesterday the following weekly export sales for the United States :

Wheat: -642,200 t in 2025/26 and + 838,500 t in 2026/27
Corn: 883,300 t in 2025/26 and 243,700 t in 2026/27
Soybeans: 276,900 t in 2025/26 and 243,000 t in 2026/27.

Black Sea market

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