European market

The situation remains divided on the macro-economic, geopolitical level as well as on the European grain market. Crude oil has been down for the past week as announcements and publications of a peace plan between the United States and Iran multiply. But, volatility and indecision remain the order of the day, especially in view of the occasional strikes still exchanged around the Persian Gulf and in view of the progressive decrease of crude oil stocks around the world.
The euro/dollar also continues to follow the evolution of crude oil. After having tried yet again to break through its support of 1.1600 yesterday morning, the euro/dollar closed yesterday at the highest since May 18 at 1.1661.
In this context, wheat prices are testing important support levels on Euronext at €210/t in September 2026 and €218/t in December 2026. The questions about the consequences of the current heat wave in Western Europe are opposed by favourable climatic conditions in the Black Sea and an early harvest pressure in the United States.

American market

The return of funds to purchases allowed a slightly higher closing on all products last night in Chicago, despite declining crude oil. The wheat market nevertheless remained the weakest throughout the day because exposed to the early harvest pressure in the United States.
Corn and soybeans find some support in the operators' wait-and-see attitude regarding the weather conditions of the coming weeks on the Corn Belt which will really launch the summer season. The soybean is further supported by the continuous firmness of the soybean oil. 
This last session of the week will be animated by the weekly publication of export sales figures in the United States, postponed by one day due to the Memorial Day holiday last Monday.

Black Sea market

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