Grain markets found some support in the last week for a host of reasons including fluctuating currency values in emerging markets as well as wet weather outlook in parts of the US.

However, any upward momentum was drained out of markets on Thursday as the weather outlook improved in the US and the pressure of a bumper corn (maize) harvest mounted on markets once more.

In Europe, rapeseed prices have been lifted on the back of a further bounce in US soybean prices in the last week. However, wheat and maize prices remain flat this week.

Europe

On the Euronext exchange (MATIF) in Paris, wheat and maize prices have shown little movement in either direction over the last week, while rapeseed prices received a boost.

December 2016-delivered milling wheat is flat at €162/t, while December 2017 wheat has also been static at €174/t. European maize (corn) prices have also shown very little movement this week, with November 2016 maize flat at €162/t, while November 2017 maize is trading just below €166/t.

Oilseed rape prices have made decent gains this week, with November 2016 rapeseed lifting €8/t since Monday and currently trading at €380/t, while November 2017 rapeseed gained slightly to sit at €364/t.

Chicago

In Chicago (CME), prices had shown some improvement at the start of the week but the market fell into retreat on Thursday as weather concerns dissolved. December 2016 wheat eased back to $149/t (€133/t), while December 2017 wheat is currently trading below $177/t (€158/t).

Chicago corn prices have also showed some improvement in the first half of this week but fell back slightly on Thursday. December 2016 corn eased back to less than $133/t (€118/t), while December 2017 corn finished at $148/t (€132/t).