European market
After hitting new lows on Wednesday, prices rebounded yesterday on both the Euronext futures market and the physical market. Activity remains limited, however, due to fewer operators being active during the summer period. The recent decline in prices is encouraging the return of some importing countries, such as Tunisia, which finalized its tender yesterday with the purchase of a reported 75,000 t of milling wheat of optional origin. Jordan has also issued a new tender for the purchase of feed barley, alongside its ongoing tender for milling wheat.
In terms of harvests across Europe, the now drier conditions in Germany and Poland should allow harvesting operations to resume as early as next week. On the weather front, the intense heat forecast across many areas of Europe—particularly in France and Eastern Europe—remains a key factor to monitor. These high temperatures are directly affecting spring crops still in the ground. Corn prices on Euronext rose by 4 €/t on nearby contracts yesterday, erasing the previous day's decline.
A similar rebound was seen in rapeseed prices. Euronext prices rose by 4 €/t on the November 2025 contract, confirming a bounce off technical support levels, mirroring the movement seen in canola and soybeans on the North American market yesterday.
American market
After a week that began with continued declines and new lows, prices in Chicago rebounded yesterday, supported by fund buying. Corn prices recovered, returning to Monday’s levels for the December 2025 contract, which closed at 4.07 $/bu. The recent price drop is encouraging buyers to return, with exceptional sales reported yesterday by the USDA totaling 211,680 t to Mexico and Guatemala. These new sales reinforce already strong weekly export figures. For the final week of July, weekly sales for the 2025 harvest reached 3,163,200 tonnes—well above expectations.
Wheat prices also saw an upward move, driven by accelerated export sales due to the competitiveness of U.S. origins. The USDA reported new sales of 737,800 t for the 2025/2026 campaign, up roughly 25 % from the previous week. The price decline seen in July for U.S. wheat has led to a surge in export activity at the start of the campaign. This trend is expected to continue in the coming weeks, with upcoming reports on weekly sales in early August likely to confirm it.
Soybean prices followed the same technical rebound, climbing back above 9.90 $/bu for the November 2025 contract. Export sales volumes show renewed momentum for the old crop, with weekly figures at 467,800 t for the 2024/2025 campaign. For the new crop, weekly sales are also rising, with reported transactions totaling 545,000 t.
Black Sea market
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