European market
The failure of peace negotiations between Iran and the United States last weekend in Pakistan and the announcement of a blockade of the Strait of Hormuz by the US Navy starting yesterday have supported crude oil prices. European grain prices have only modestly followed this bullish influence. They remain penalized by the firmness of the euro/dollar which has gradually returned to the upside to peak at 1.1770 this Tuesday morning.
For the first time yesterday, transactions on Euronext's milling wheat, corn and rapeseed contracts were extended after 18:30 until 20:15 Paris time. Only futures contracts can be processed during this new additional time slot. The options, blocks, against actual or EFP remain for their part only negotiable on the historical schedules from 10:45 to 18:30.
In this new context, the last price traded before the close of 20:15 is potentially different from the settled price at 18:30.
Settled price defined at 18:30 on 13/04/26 (and variation compared to the previous day):
Wheat May 2026: 195,75 €/t (+1 €/t)
Corn June 2026: 205,00 €/t (+2,25 €/t)
Rapeseed May 2026: 502.50 €/t (+2.75 €/t)
And last traded before the closing at 20:15 on 13/04/26 (and variation compared to the previous day):
Wheat May 2026: 194,75 €/t (unchanged)
Corn June 2026 : 204,50 €/t (+1,75 €/t)
Rapeseed May 2026 : 500.25 €/t (+0.50 €/t).
American market
The bullish influence of crude oil rebounding above $ 100/barrel yesterday on London and New York remained limited on grain prices in Chicago. The renewed uncertainties in the Middle East certainly constitute a support for the prices but weakens in this 7th week of conflict and incessant yoyo of prices.
A new speech by Donald Trump at the end of the session, declaring that Iran wanted to conclude an agreement, came to calm the few tensions of the day.
Corn and soybeans closed slightly lower last night in Chicago in a wait-and-see market but not worried about the progress of US plantings. Indeed, after the close, the USDA Crop Progress report showed an advance in US corn sowing by 2 points over the past week at 5% completion and this against 4% on a five-year average to date.
The advance is even more marked in soybeans with 6% of sowing carried out on Sunday against 2% on a five-year average to date.
Only wheat stood out yesterday with a strong firmness in SRW and more in HRW due to absence of the expected rains on the Great Plains. The situation is becoming critical there and the concern is palpable among the operators.
The USDA confirmed these fears by publishing its weekly crop rating last night, down by -1 point to 34% from good to excellent for all winter wheats nationwide in the United States. The most striking being the sharp drop of -6 points in Kansas where only 32% of the wheat is judged good to excellent. The Texas and Oklahoma wheats each lose 2 additional points at 15% and 10% respectively from good to excellent only.
Black Sea market
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