European market
Rapeseed prices rose yesterday, driven by the upward movement in US soybean prices on the one hand and also by the decrease of the euro against the US dollar, back to 1.18. Canola prices in Winnipeg also followed this upward movement, returning close to their highest levels in two months.
On Euronext, the May 2026 rapeseed contract is up and returns to show its highest levels since last November, closing the session at €482.75/t. The upward movement spreads to the following contracts corresponding to the new harvest, consolidating prices above € 460/t on the August 2026 contract. We will also note the revival of transactions on rapeseed option contracts, both on the front contract and on the August 2026 contract.
Grain prices, for their part, showed a timid increase compared to the previous day, with some calls for tenders finalized and in progress for feed barley. Wheat prices are still moving below €194/t at the close since the beginning of the week on Euronext for the front contract. The timid upward adjustment movement is similar in corn, but prices are not changing much in the end. On Euronext, the March and June 2026 contracts are now trading at almost parity above €191/t.
American market
The message of President Donald Trump, published on his social network, about the exchanges with his Chinese counterpart and a possible upward revision of the potential purchase of US soybeans by China, boosted yesterday the entire soybean complex in Chicago. After the announced 12 Mt of US soybean exports to China by the end of February, the volumes now hoped for could reach 20 Mt for the 2025/26 season. Even if this type of announcement obviously remains to be confirmed with sales volumes and then loads made, this news caught the operators by surprise and in particular the funds, which have strongly repositioned themselves to the purchase, generating particularly large transaction volumes.
The March 2026 soybeans contarcts has increased to almost $10.60/bu at the low of the session to more than $11.15/bu at the high of the day, to finally close below $11/bu. The rise in seed prices has also led to a significant rebound in soybean oil prices in Chicago, which are returning to their highest levels since last August, close to the resistance level of c$56/lb for the March 2026 contract. To a lesser extent, meal prices have also increased on the US market.
This volatility, on the other hand, were less marked on grains. Corn prices have changed little despite new reported sales of US corn and the firmness observed on soybeans. Operators remain vigilant about the evolution of weather conditions in South America. Wheat prices, for their part, showed a session without much momentum, closing the day slightly down compared to the previous day. The low temperatures in many production areas in the Northern Hemisphere and the associated risks for winter crops seem to be relegated to the background in the face of the still large volumes of stocks from the 2025 harvest.
Black Sea market
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