European market

The technical rebound that began on the European grain market on Friday was finally hampered by a sudden surge in the euro/dollar.
The publication of employment figures in the United States judged as disappointing has indeed reinforced the prospect of a rate cut by the FED for its meeting on September 16 and 17. The euro moved vs the US dollar up to 1.1760 while it was evolving around 1.1650.
Euronext wheat December 2025 decreased by -5 € /t over the past week to close at 189 € / t. Euronext corn followed this decline. However, it benefits from concerns related to the level of the French harvest and limits its weekly decline to -3 €/t to 186 €/t in November 2025 contract on Euronext.
The situation is more volatile on rapeseed which loses only €1.25/t over the week to €461.25/t for Euronext's November 2025 contract while managing to preserve its support of €460/t. 
This week the USDA's monthly Wasde report will be published on Friday, September 12 at 18:00 Paris time. Whether in wheat, corn or soybeans, the market attention of the coming days will focus on global strong supply volumes. Before the USDA report, the attention of operators will be focused on the expiration this Wednesday, September 10, of the September 2025 contract on the Euronext wheat contract. The open position as of Friday morning was 1624 lots.

American market

Because of the Labor Day holiday last Monday in the United States, the publication of weekly export figures has been postponed to last Friday. The trends of the last weeks are confirmed also for the 2025-26 season:
A slowdown in wheat sales to 312,978 t, the 2nd weakest of the campaign
Very strong corn sales momentum at 2.117mn t
A very mixed situation in soybeans with 828,000 t at the lowest for a month with the absence of China on the US origin.
In this context, wheat prices closed down again on Friday evening in Chicago. Corn, even if supported by export and short-covering throughout the day, also finished down. Soybeans are pressured by the lack of commercial progress between the United States and China.
However, US soybeans benefited on Friday from 2 exceptional sales reported by the USDA for 204,650 t and 123,000 t to an unknown destination.

Black Sea market

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