European market

The acceleration of harvesting in Europe favours the increase in available volumes for sale and puts pressure on the grain prices. Prices on Euronext for the upcoming September 2026 contract are evolving in a narrow range around €205/t.
The real concerns about spring crops, and especially corn in France, do not necessarily support the prices of straw cereals for the moment on the national market. European operators remain focused on the potential of harvesting volumes in the Black Sea area, which promises to be reassuring, as show, for example, the early harvest results in Ukraine. Currently, the price difference between corn and wheat is an element that risks reducing the attractiveness of corn over the coming campaign in favour of other more attractive products when substitution is possible.
In parallel with the slight easing in crude oil prices yesterday, despite a tense situation in the Persian Gulf, rapeseed prices closed the session lower. The August 2026 contract is pushed back below the level of €520/t, erasing part of the rebound movement of the previous day. It should be noted that at the beginning of next week the option contracts on this same contract will expire. The downmovement has also spread over the following contracts. The Canadian canola market is also following the same movement, marking a decrease after the rebound at the beginning of the week.

American market

The market is waiting for the new publication of today's monthly report. The USDA will communicate its new estimates of the balance sheet for this end of the 2025/26 campaign and those for the new campaign. By incorporating some adjustments in positions in the run-up to this report, yesterday's session in Chicago was mainly marked by a further decrease in corn and soybean prices, while in parallel, wheat, soybean oil and meal prices were rising.
New exceptional sales of soybeans for the 2026/27 season were announced yesterday by the USDA. A volume of 256,000 t, of which 136,000 t have already been posted for China. This announcement confirms the rumors that have been circulating in recent days about China's interest in repositioning itself to purchases, which had boosted the movement of soybean prices at the beginning of the week. However, the price of the November 2026 contract has declined, falling back below $11.85/bu. Operators are indeed still waiting for a greater flow of business with China, following the promises made during the exchanges of recent months between Chinese and American representatives. The weekly sales figures are followed with the greatest interest with, this week, 408,300 t announced in new harvest and 225,000 t in old soybean crop.
In fact, the weekly sales made this week disappointed, bringing a little pressure on prices. However, the most important element to remember currently remains related to the weather conditions in the American production areas, where temperatures are finally expected to be less hot than initially expected in the coming days.

Black Sea market

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