Falling Wheat Prices
The wheat prices fell by more than 20 euros in April. Analysts believe that the 200 euro mark is not far away and could soon be broken downwards. In the same period, the corn prices fell by 13 euros and have already reached the 200 euro mark. The rapeseed prices for the new harvest have fallen by almost 30 euros in the same period. And today, it looks red again.
Current Situation and Outlook
The wheat prices can hold their ground after yesterday's price slump. The reason is the ongoing drought in France and Germany, as well as around the Black Sea. Wheat and corn prices have already suffered significant losses this week. The grain prices are particularly under pressure due to the significant improvement in weather conditions in the US, which allowed for rapid progress in the planting of corn and spring wheat last week. However, concerns are growing in the market about the forecasted return of dry and hot weather in Western Europe and the lack of rainfall around the Black Sea, which could lead to another price increase in the short or long term.
US Wheat Market Improvement
The decline in American prices in Chicago and an increase in the Euro/Dollar exchange rate to over 1.14 during yesterday's trading session are also pushing prices down. Wheat futures came under pressure due to the unexpectedly strong improvement in the weekly US crop monitoring. This indicates that recent rains in the central US provided some relief to the dry fields. The domestic and export demand has increased but is not enough to absorb the growing US stocks, which are expected to be nearly 22% above the previous year's level. The USDA rated 49% of wheat plants as "good" or "excellent" late on Monday, compared to 45% the previous week and the previous year.
Rapeseed Price Decline
Rapeseed prices are being pushed down further due to the low oil prices and correction in Canadian rapeseed. Additionally, the oil prices are under pressure again due to macroeconomic concerns and the prospect of a further strong production increase by OPEC+ countries. Palm oil prices have also lost all the gains of the previous week due to the recovery of Malaysian production in April. Today, Euronext rapeseed prices for August 2025 are falling by 4.50 euros/t in current trading to 465.25 euros/t. The November 2025 is losing 4.50 euros/t to 469.50 euros/t.
