European market

A new heat wave is back in the Western Europe, and more particularly France, at the beginning of the week. With temperatures announced around 8°C above the normal seasonal according to weather models, the temperature should exceed 35°C in many regions. These elements are not likely to reassure the operators of the corn market, while the growing conditions are already worrying. According to the latest Céré'Obs report, 58% of corn is judged to be in a good to excellent condition in France, compared to 76% the previous week. This deterioration should continue in the coming weeks, keeping Euronext corn in a certain firmness.
If Euronext corn manages to reach new highs, wheat, for its part, remains anchored around €200/t. The harvest is accelerating in France and, according to the latest figures released on June 29, 26% of the areas had already been harvested. However, this percentage increases rapidly over the days. The yield results continue to show a strong heterogeneity according to the regions, the types of soils and the varieties. The recent hot weather has affected the crops in a variable way according to their stage of development, but it must be noted that the national yield will be cut by several quintals per hectare.
In the rest of the world, harvests are also continuing, exerting some pressure on prices, especially in Eastern Europe. With a production potential considered reassuring in Romania in particular, prices in this region are falling again. In Russia, the harvest begins in the south of the country, but the rains announced in the coming days could slow down the progress of field work.
Rapeseed is struggling to take a clear direction and follows the evolution of vegetable oil prices. In Kuala Lumpur, palm oil is still evolving around 4,500 ringgits/t, pending the weekly report of the MPOB. European operators are also keeping a close eye on sunflower growing conditions, while flowering is underway in many regions.

American market

Closed on Friday, the US market will reopen today.

Black Sea market

Click here to request full access to the AgriMarkets report to find out more about the Black Sea region, and follow price trends in Russia on a daily basis.