European market
The session closed down on Euronext yesterday, both on the grains market and on the oilseeds market. The decline of the euro against the dollar, close to its lowest level for two weeks, however, limited the scale of the movement. The euro/dollar parity has fallen back below 1.16 and is approaching the 1.15 level this morning.
EU sellers oriented towards non-EU markets are obviously following this movement with interest. The decline in the euro makes it possible to mechanically adjust prices and strengthens the attractiveness of European origins in the face of the many alternatives available, especially in wheat.
Professionals especially followed yesterday the new developments concerning the entry into force of the European regulation against deforestation and forest degradation (EUDR). After a first postponement last year and adjustments announced a few weeks ago for 2026, the Member States have asked the European Commission for a new calendar. The new proposal announces an implementation by December 30, 2026, a proposal that will now have to be submitted to the European Parliament for effective validation. This regulation directly impacts the players in the import chains of many raw materials in Europe, including in particular meals and vegetable oils. At the end of the day, the prices of seeds as well as those of rapeseed oil showed a slight decline, as did the majority of imported meals.
American market
The USDA announced yesterday new exceptional sales of soybeans destined for China. To the 792,000 t announced the day before, an additional volume of 330,000 t is now added.
Despite these figures, soybean prices recorded a decline for the second consecutive session, after reaching a new high for more than a year on Monday, driven by the prospects for export business to China. The January 2026 contract for soybeans is running out of steam and is back below the $11.40/bu level in Chicago. The downturn has also had an impact on the prices of soybean oil and meal.
Wheat and corn prices also fell yesterday. The March 2026 CME wheat contract has decreased after touching the technical resistance zone at $5.60/bu. Operators will be attentive to the publication of weekly export sales in a context of strengthening of the dollar.
In corn, the downward movement has been more marked. The March 2026 CME contract has lost -8 cents, closing at its lowest level for more than three weeks, in the wake of soybeans. This decline then spread to all contract. However, corn prices for the 2026 campaign are still +30 to +35 cents higher than those for the 2025 campaign.
Black Sea market
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