European market

Profit-taking day yesterday was registered for all products on Euronext as on Chicago. The return of prices to important resistance levels stimulated the return of sellers, making it possible to rebalance the forces present on the markets.
After having gained €11.5/t during the previous four sessions, Euronext wheat December 2026 contract, was down by €3.25/t yesterday to close at €244.50/t. The approach of €250/t constitutes a strong resistance zone. The euro/dollar, weakened to 1.1200 and the recent surge in international demand have been important supports for European wheat, but competition remains present on the international scene.
The balance of the French corn market is in a more difficult situation in the context of the fall in French corn production 2026-27. Although under the influence of the decline in wheat yesterday on Euronext, the decline in corn prices remained limited.
The rapeseed market is largely disrupted by the low water levels of the Rhine. Euronext's November 2026 contract, which is coming to an end on October 30th, alone testifies to the difficulties of the moment. With a fall of €16.75/t, to €506.25 /t at the close, it leads the following contracts in its downward wake.
Although still limited, the return of rains on France is nevertheless welcomed, both for the development of winter rapeseed and for the winter grains plantings.