At this stage of the year, many farmers will be turning their thoughts to spring sowings and preparing for the busy months ahead. From a price perspective, grain markets continue to trade on weather patterns, particularly the impact they are having on winter sowings.

Wheat prices have also received a bounce in the last week on data from the US department of agriculture (USDA) showed winter wheat plantings on US farms were at their lowest level in over a century. US grain farmers have planted just over 32m acres in winter wheat this season, which is almost 4m acres less than last year and the lowest planted acreage in winter wheat since 1909. Wheat prices, particularly on US grain markets, have made gains on this data.

Europe

Grain prices from the Euronext exchange (MATIF) in Paris have started this week on a solid footing. Milling wheat delivered in May 2017 has been flat over the last week and is currently trading just under €172/t. May 2018 wheat is at €180/t.

Maize (corn) prices have dipped marginally in the last week with June 2017 delivered maize down €1/t to just over €170/t, while June 2018 maize is trading at €173/t. The price of oilseed rape continues to make ground this year. May 2017 delivered rapeseed is currently trading at €415/t, while May 2018 rapeseed is at €392/t.

Chicago

In Chicago (CME), grain markets were closed on Monday for Martin Luther King day. However, wheat prices did finish last week on a positive footing on the back of the USDA winter sowings data.

May 2017 delivered SRW wheat finished last week at $162/t (€151/t), while May 2018 delivered wheat is at $186/t (€174/t). US corn prices are static over the last week, with May 2017 delivered corn trading at $144/t (€135/t) and May 2018 corn at $157/t (€147/t).