European market

In a still uncertain context in the Black Sea, where the port export activity constitutes a major problem both in Russia and in Ukraine, European operators are also carefully following the current evolution of the euro / dollar parity. The latter, already engaged in a rebound phase since the beginning of August, recorded a strong progression yesterday by going back above the level of 1.16 and returning to a level comparable to that observed in mid-May, around 1.1670. This new configuration promises to be more favourable to European operators importing grain and other raw materials. It will mechanically lead to price adjustments in order to preserve the attractiveness of flows destined for export in the short term. Conversely, this situation of relaxation of the dollar provides an element of support for US prices and strengthens the interest of this origin for importers.
Yesterday's session on Euronext experienced, like the last few days, a strong amplitude of variation both on the grains market and on that of rapeseed, to finally close higher. Pending the finalization of its national study, FranceAgriMer's first results concerning the quality of soft wheat reassure operators. The latter are still waiting to see the export activity develop at the beginning of the campaign and are following with great interest the wheat prices from Romania and Bulgaria. According to the figures provided by FranceAgriMer, the protein contents are at a better level than last year, with higher specific weights and a Hagberg drop index significantly higher than that observed during the 2025 harvest.
In rapeseed, prices showed an increase yesterday, erasing the downward movement of the previous day. The November 2026 contract, on Euronext, goes back above the €550/t level, which has not been observed for a month. This upward movement extends to the other contract which, for the 2026 harvest, all go back above this level. In the new harvest, the August 2027 contract displayed a compensation price above €525/t, a new high. The producers remain very attentive to the evolution of weather conditions and the arrival of precipitation in order to facilitate the preparation work and the sowing of rapeseed.

American market

Corn prices showed a new rise yesterday, driven by new disappointments as the results of the countings currently carried out through the Pro Farmer Crop Tour are published. The decline in yields is confirmed compared to last year in the state of Illinois, as in the first observed areas of the State of Iowa. This element leads some operators to reposition themselves to purchase, pushing corn prices in Chicago up. After a closing yesterday in progression of the order of +2%, the December 2026 contract on corn marks, at the beginning of the day during the night session, a new rise by going back above $5/bu. This movement is pushing prices closer to the highs observed last month.
The results of the counting are also down in soybeans, pulling prices up there too. The soybean market is showing an increase for the fourth consecutive session and is also approaching its recent highs in July. The November 2026 contract approached the level of $12.40/bu yesterday at the end of the session. In parallel, the prices of meals marked a strong rebound yesterday in Chicago.
The situation remains complex in the Black Sea, pulling up the prices of the CVB Black Sea wheat contract in Chicago as well as those of the SRW contract. In addition, the decline of the dollar against many currencies pushes the Dollar Index to its lowest level in three months. This element provides additional support for American goods destined for export. The December 2026 contract in SRW wheat came yesterday to test the technical level of $7/bu.

Black Sea market

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