European market

The crude oil market remains nervous as the conflict in the Persian Gulf has entered its 4th week. The operators are waiting after the 48-hour ultimatum launched on Saturday by Donald Trump, 48 hours for Iran to open the Strait of Hormuz under penalty of seeing its energy plants destroyed.
On the monetary front, the euro/dollar remained supported on Friday with a close at 1.1570 in the face of a firm tone from the ECB which could raise rates in the coming months to curb inflationary pressures.
The appreciation of the euro weighed on grain prices on Friday in Europe in the same way as the multiplication of weekend profit-taking on Euronext and Chicago. Rapeseed is pulling its weight with a slightly higher closing on the close, allowing it to preserve the key support of € 500 /t in May 2026.
Export competitiveness at the end of the season remains a challenge for French wheat, while production prospects remain satisfactory for the next harvest.
The still noticed competition of Russian wheat on the international scene should however be curbed by an increase in export taxes in Russia. The tax from this Wednesday reaches 515.6 rubles/t on wheat against 140.9 rubles/t last week. It was at zero from the beginning of 2026.
The crops condition in France published on Friday by the FranceAgriMer cereal program is as follows on March 16:
Soft wheat: 84% good to excellent, unchanged over the week and compared to 74% last year
Winter barley; 81% good to excellent, unchanged over the week and compared to 70% last year.
Spring barley is sown at 95% compared to 97% last year and 88% on average 5 years.

American market

Prices ended the week down on
Chicago market last Friday. it is above all about profit-taking before the weekend and this in a context of more hesitant crude oil market during the day on Friday and in a context of a slight rebound in the dollar index. The funds were for sale on all products in Chicago for this last session of the week. 
However, volatility remains in place with US farmers who are still asking a lot of questions about their plantings for this spring 2026 in view of the soaring prices for nitrogen fertilizers. More than ever the traditional battle between soybeans and corn is raging. 
On the southern Great Plains, the weather remains closely monitored. The temperatures will remain abnormally high this week while a return of the rain is hoped within 8-10 days.

Black Sea market

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