European market
The weekend profit-taking, started the day before, continued and intensified on Friday. Wheat, corn and rapeseed are concerned, in a context also penalized by the rise of the euro / dollar which has momentarily approached 1.1270.
Geopolitical tensions remain extremely high, whether in the Black Sea or in the Middle East. Fears of a new military escalation between the United States and Iran have also propelled WTI crude oil to more than $100 a barrel at the close on Friday evening in New York. However, grains have stayed away from this firmness, with prices falling on Chicago as on Euronext.
The support of export demand, present at the beginning of the week on European wheat, has momentarily faded as competition from the southern hemisphere becomes clearer, like the increases in production estimates observed in Australia after finally favourable weather in recent months.
In corn, the French market oscillates between the management of the shortage and the drastic rationing of demand, which explains the high amplitudes of prices in recent days. The harvest is almost complete, with 92% done according to FranceAgriMer on October 12, compared to 84% the previous week and 46% on average over 5 years to date.
Rapeseed, meanwhile, continues to fluctuate erratically in the same price range for three weeks, from €550-560 /t on the February 2027 contract, and this according to the movements of other oilseeds.
American market
The downward pressure intensified on Friday on all products on the Chicago market. Between the harvest pressure and the weakness of exports, there is no shortage of arguments for sellers.
The dry weather expected throughout the Corn Belt at the beginning of the week should allow a rapid advance in both soybean and corn harvests. In this context, the USDA's Crop Progress report, to be published this Monday evening at 22:00 Paris time, will be followed with great attention.
It was on Friday that the USDA publication on weekly export sales in the United States dominated the news of the American market. Sales were indeed disappointing in wheat, with only 320,000 t, and in soybeans, with 575,000 t, which accentuated the decline in these products.
SRW wheat has notably broken its support of $6.70/bu, in place for a week on the December 2026 contract. Soybeans, which price had already declined markedly and broken its support of $12.80/ bu on Thursday in November 2026, saw its limited decline on Friday.
Weekly export sales, on the other hand, came out at the top of expectations in corn, with 1,122 Mt, which limited the decline on this product, but without preventing the break of the support of $4.80/bushel on the December 2026 contract.
Black Sea market
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