Grain prices from Paris were under downward pressure during yesterday’s (Wednesday) trade, with nearly all futures quotes for grain commodities falling on the Euronext exchange (MATIF). In contrast, the market in Chicago was more settled, albeit with some minor losses for grain prices.

Early indications from today’s trade (Thursday) in Europe and the US are mixed. Prices from Chicago for maize and wheat are under pressure. In Europe, there is a slight recovery in some futures prices bar wheat prices, which continue to be pressured.

Europe

On the Euronext exchange in Paris (MATIF), December 2015 wheat fell by almost €3/t to finish Wednesday’s trade at €169/t. December 2016 wheat was also in decline, albeit not as severe, with prices falling €1/t to settle on €182/t.

Maize prices from Paris were mixed. November 2015 future prices for maize fell by a significant €3/t to finish just over €163/t. In contrast, futures prices for November 2016 maize actually gained slightly to finish the day’s trade just below €179/t.

After showing some upward momentum over the last number of day, futures prices for rape took another dip after yesterday’s trade in Paris. November 2015 rape prices fell by €4/t to finish just below €358/t – that’s a loss of almost €10/t over the past 24 hours. Similarly, November 2016 rape was also down by €4/t to finish Wednesday at €343/t – again a fall of almost €10/t in the last 24 hours.

Chicago

On the Chicago exchange (CBOT), futures prices were steadier than in Paris, although there were some losses.

Prices for December 2015 SRW wheat were the most challenged – falling by almost $3/t to $176/t (€158/t). Prices for December 2016 SRW wheat were steady in the main, recording a marginal loss to end Wednesday’s trade just over $190/t (€171/t).

Maize futures were steady as prices for December 2015 maize recorded a slight fall to move just under $145/t (€130/t). December 2016 maize prices were the same – falling by less than $1/t to finish just over the $154/t (€139/t) mark.