European market

The energy markets experienced a sharp decline yesterday, in the perspective of an improvement in traffic in the Strait of Hormuz following the announcement of the ceasefire between Iran, the United States and Israel. Despite this reassuring signal, however, the markets remain cautious about the situation, especially since the resumption of maritime traffic in this area could take place gradually and at a lower rate than the usual historical level. The other direct effect observed following this ceasefire announcement was the rebound in the euro/dollar parity. The latter is trading again in a range between 1.1600 and 1.1700, regaining its high of recent weeks.
This movement of rebound of the euro, coupled with a phase of de-escalation of tensions in the Middle East, led to a decrease in prices yesterday, both on grains and on rapeseed, on the Euronext market, in a context of high trading volumes. The transactions were mainly concentrated on futures contracts, but significant volumes of options on all products were also observed.
Rapeseed prices have fallen back below the €500/t level on the various Euronext contracts. In fact, the close deadline of May 2026 is now below € 200 / t, at € 197.75 / t, thus returning to a level almost equivalent to that negotiated before the start of the conflict in Iran. Corn prices are also showing a slight decline, following the same downward adjustment movement.
On the other hand, activity on the physical market remains more limited, in a context of a shortened week following the Easter weekend.

Black Sea market

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