European market

The prices recorded yesterday a strong amplitude of variation. In wheat, the December 2025 contract tested the level of € 185/t in a session, reaching a new contract low, before rebounding and closing higher compared to the previous day. In corn, prices also fell, briefly falling back below the €180/t level. The November 2025 contract, however, ended the session at €181/t, conceding only a slight decline compared to the previous day.
The downward movement observed since the beginning of the week contributes to maintaining the price gap between the West European origins and those of the Black Sea in wheat. Several opportunistic importers are positioning themselves, taking advantage of the decline in prices. This differential reinforces a renewed attractiveness of West European wheat in a market where demand remains timid, despite currently negotiable price levels. At the beginning of autumn, it will be all the more important to follow the evolution of prices in these two zones given the large volumes available for export.
The oilseed market also recorded high volatility yesterday. Rapeseed prices on Euronext tested the support zone of €460/t on the November 2025 contract, before rebounding. The market remains nervous, in connection with the advance of the sunflower harvests and the evolution of Canadian canola prices, which are also returning to test support zones after the continuous decline observed this summer.

American market

The US market recorded new lows yesterday on several contracts, in particular on contracts in Chicago for wheat and soybean meal. Corn and soybeans, meanwhile, have returned to the price levels observed last August. This downward movement is a continuation of the previous session, following the publication of quarterly stocks figures. However, after this decline and the testing of a technical support area, prices rebounded, the recent decline having motivated some profit taking.
The US operators remain attentive to the evolution of the Sino-American commercial relations, while the negotiations continue. The announced meeting between the US president and his Chinese counterpart opens up a prospect of progress in the discussions, maintaining the hope of a revival of export activity, in particular for US soybeans destined for China over the coming season.

Black Sea market

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