European market
After hitting lows the previous day, grain prices attempted a rebound during yesterday’s session on Euronext. Ultimately, prices closed with a very slight decrease compared to the previous day, settling at 193.25 €/t on the December 2025 contract, matching the previous day’s low. Corn prices also remained stable. At these price levels, Western European operators are closely monitoring grain prices in the Black Sea region, especially for soft wheat, in order to remain competitive on the export market, given the available volumes in Europe. In France, the latest figures on the quality of the 2025 harvest confirm a strong improvement compared to last year. FranceAgriMer reports that 52 % of soft wheat collected nationally is of “superior” quality, and 13 % is “premium” quality, representing an increase of about +16 points compared to the previous season.
On the oilseed side, the start of sunflower harvesting in France is showing disappointing yields so far, directly linked to the dry conditions of recent weeks. Rapeseed prices are currently showing little movement: the November 2025 contract on Euronext is quoted at 472 €/t. European operators are closely watching the evolution of Canadian canola prices, which are entering a stabilization phase after the recent decline. In Winnipeg, the November 2025 contract is trading at 650 /t, bouncing off a support zone. Regarding production prospects in Canada, the latest report from Agriculture and Agri-Food Canada (AAFC) confirms previously announced stock declines for the 2024/25 season, as well as a reduction in planted canola acreage for 2025 and in seed export potential, estimated at 7 mnt for the upcoming season. Despite an increase in Canadian canola production, expected to reach 20.1mn t, availability levels remain below last year due to the drop in beginning stocks, estimated at 1.8mn t. The improvement in Canadian canola yield compared to last year only partially offsets the stock decline for the 2024/25 season.
American market
The latest results from the Pro Farmer Crop Tour provide new insights into production potential in the Corn Belt, offering slight support to prices on the CME market. Two exceptional sales were also reported yesterday by the USDA, totaling 225,741 t of new crop corn, destined for Mexico and Colombia. In Chicago, corn prices edged higher yesterday on the December 2025 contract, closing at 4.04 $/bu. Regarding the field countings, yield potential has been revised downward in Illinois, which has been particularly affected this season by heavy rainfall. Yield there is estimated at 199.57 bu/acre. Although this level remains high compared to other states, it represents a decline of more than -2 % compared to last year’s countings. In contrast, in the first counting zone of Iowa, field reports indicate a strong improvement over the previous year.
As for SRW wheat, prices in Chicago rebounded yesterday from a technical support zone. The December 2025 contract, after hitting a new intraday low below 5.20 $/bu, ultimately closed higher, reaching its highest level in a week close to 5.30 $/bu. Prices remain close to the lowest levels since the start of the season, which now limits U.S. producers’ interest in ramping up sales.
Like corn, soybean prices posted a modest increase yesterday, with a pod count showing variability compared to last year in the Pro Farmer Crop Tour zones. Soybean meal continued to rise, supporting seed prices and moving in the opposite direction of soybean oil prices. The December 2025 soybean oil contract closed at 51.45 ¢$/lb in Chicago yesterday, returning to its lowest levels since mid-June.
Black Sea market
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