European market
This beginning of the year 2026 is not lacking geopolitical news. After Venezuela, Iran is on focus. To the instability and the American and Iranian threats in retaliation in recent days, the barrel of crude oil responds to the rise. The new risk premium brings crude oil close to $60/barrel in New York.
In such an uncertain world, the dollar is somewhat regaining its role as a safe haven. Nevertheless, it remains affected by new tensions raised this weekend by Fed Chairman Jerome Powell with the Trump administration. In this context, the euro/dollar returned to a one-month low on Friday at 1.1618 before rebounding above 1.1650 for the beginning of the week.
This monetary boost allowed prices to close up on Friday evening on Euronext. If the gains remain very timid in wheat and corn given the ample wheat supply among the major exporting regions, the increase in rapeseed is more marked with a return above 470 €/t for February 2026 contract. No less than €25/t separates the highest traded on Friday from the lowest observed a week earlier on the front Euronext rapeseed contract.
American market
The Chicago market remained quiet on Friday. The operators are waiting for the monthly USDA report of this January 12th before taking new positions. Benefiting from slight gains on the week, wheat and corn contracts suffered from some profit-taking at the close on Friday evening. The soybeans have fared better and manage to stay in the green at the close.
The US wheat market remains dominated by the ample 2025-26 harvests among major exporting regions. What the USDA should not fail to illustrate again in its report of the day. In corn, this publication will be especially monitored regarding the final figure of the American harvest which many see well below the 425 Mt currently displayed.
In fact, the market dynamics remain focused on China and the pace of its purchases in the United States.
Black Sea market
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