European market
The beginning of May is, unsurprisingly, a period when successive public holidays lead to shortened activity weeks in the physical market. On financial markets, however, the situation is different. Indeed, the Euronext stock exchange in Paris, which was closed yesterday due to the May 1st holiday, will remain open for trading during the upcoming May 8th commemorations.
Even though the end of the 2024/2025 campaign is approaching, operators remain very attentive to the evolution of export activity, particularly for French-origin products, following the decline in prices. The appreciation of the euro against the dollar continues to be a decisive factor in this movement. Currently, the euro is slightly weakening, settling around 1.13 against the dollar, prompting a mechanical adjustment of euro-denominated prices. Consequently, grain prices showed a slight increase on Wednesday after recent low levels.
In the oilseed sector, the May 2025 Euronext rapeseed contract has now expired, pushing market participants to use subsequent Euronext contracts for pricing negotiations. These contracts saw a decline on Wednesday, mirroring the downward trend observed in the new European rapeseed oil FOB Dutch Mill contract on the CME.
With activity slowing for the 2024 wheat, barley, and rapeseed harvest, the prices that will now be published on physical market price tables on our website will relate to the 2025 harvest. For any specific pricing requests, other publications are available here.
American market
After hitting a new low during the week, wheat and corn prices saw a modest rebound yesterday in Chicago, where the market remained open on May 1st. As a reminder, "Labor Day" is celebrated on the first Monday of September in the U.S., a day when the Chicago exchange is closed. Recent rainfall has provided reassurance, particularly for the development of winter wheat crops. New harvest prices for the September 2025 contract in Chicago are currently below 5.50 $/bu. Additionally, as the May 2025 contract nears its expiration, market participants continue to closely monitor weekly U.S. export sales figures.
For corn, the progress of planting operations remains a key factor watched by operators for the new harvest. Despite the expected increase in acreage, corn prices are attempting a technical rebound after testing a recent support level. The selling pressure observed at the end of the month now appears to be fading.
Supported by the rebound in soybean oil prices seen yesterday, soybean prices are moving slightly. The May 2025 contract, which will expire in about ten days, managed to close above the 10.30 $/bu threshold. During this period of ongoing planting operations in the U.S., weather forecasts remain an important factor to follow.
Black Sea market
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