The sense of calm at the opening of global markets this week is in total contrast to the chaos that took place throughout international markets last Monday. The panic that engulfed the markets had a negative effect on everything from share prices to oil, before eventually hitting futures for grain commodities.

Grain prices in both the Paris and Chicago exchanges took a hammering on Monday and Tuesday as nervous investors sold out of risky assets. The volatility was such that, on a given day, prices for grain commodities often underwent massive shifts during trading. Prices swung sharply during trades from positive territory into negative and vice versa, making it very difficult to ascertain just how real these grain prices were.

Stabilisation returned to the markets in the latter half of the week, which helped grain prices to recover some of the week’s earlier losses.

Early signs from Monday morning’s trade in Paris and Chicago indicate that futures prices are back in negative territory once more.

Europe

On the Euronext exchange in Paris (MATIF), futures prices for December 2015 wheat were relatively static during Friday’s trade to finish at just over €173/t. Prices for December 2016 wheat were also flat during Friday’s trade, hovering just over €184/t.

Maize prices from Paris were also static. November 2015 maize futures prices showed little movement to finish just over €169/t, while November 2016 maize prices were flat for the third day in a row at €179/t.

Rape futures prices continued to bounce back after a difficult couple of weeks. Prices for November 2015 rape gained more than €5/t during Friday’s trade to settle at below €365/t. Although less pronounced, November 2016 rape also made gains of almost €2/t to finish the week just below €351/t.

Chicago

On the Chicago exchange (CBOT), futures prices for wheat and maize were either steady or slightly back.

December 2015 SRW wheat prices fell by $2/t to finish the week just below $178/t (€158/t), while December 2016 SRW wheat was back by more than $1/t from the previous day to end last week below $193/t (€171/t).

Maize futures were more stable in comparison as prices for December 2015 maize stayed flat at just under $148/t (€131/t). December 2016 maize was also static at just over $157/t (€139/t).