European market

Geopolitical tensions continue whether in the Persian Gulf or on the Black Sea. While the crude oil and its derivatives market remains supported by the blockages in Hormuz, the grain market is concerned about the disturbances observed both in the Odessa region on the Ukrainian side and on the Sea of Azov on the Russian side.
Nevertheless, after the excitement of the previous day, especially on wheat, the market was left to technical corrections and profit-taking yesterday on Euronext as on Chicago and this in anticipation of new elements.
While the last parcels of wheat are being harvested in France along the coast of the English Channel, FranceAgriMer yesterday released its first draft of its forecast balance sheets for 2026/27 with as support the production figures published the day before by Agreste. It follows the following stock forecasts as of 30 June 2027 :

Wheat 3.649 Mt against 3.379 Mt on 30 June 2026
Barley: 1,906 Mt against 1,385 Mt on 30 June 2026
Durum wheat: 114,000 t against 113,000 t on 30 June 2026
The French corn stock as of 30 June 2026 is estimated at 2,389 Mt.

In Germany, the association of DRV cooperatives published yesterday its latest harvest estimates :

Wheat: 21.89 Mt down -5.4% over one year
Winter barley 9.34 Mt down -1.8% over one year
Spring barley: 1.46 Mt down -19.5% over one year
Rapeseed 4.03 Mt up +1.5% year-on-year.

American market

The increase in prices observed on the US wheat market on Wednesday and by sympathy on corn and soybeans gave way yesterday to profit-taking. The situation on the Black Sea basin remains extremely sensitive. However, the absence of new elements and prices approaching resistance levels of $7/bushel in wheat, $4.75/bu in corn and $12/bu in soybeans has led to profit-taking on the part of financial operators and sales on the part of producers. 
The prospect of lower temperatures next week in the United States has also contributed to the relaxation of the market for corn, soybeans and spring wheat. 
The weekly export sales figures published by the USDA also disappointed the operators yesterday with the exception of new crop soybeans:
Wheat: 235,000 t on 2026/27
Corn 315,000 t on 2025/26 and 311,000 t on 2026/27
Soybeans: 188,000 t on 2025/26 and 1.77 Mt on 2026/27.

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.