With much of the global harvest nearing completion, markets are now reacting to factors that will influence 2016 crops. In recent days, concerns over dry planting conditions in Russia and parts of Australia have boosted futures prices for wheat and corn, although there was a slight fall off in prices yesterday.

Europe

On the Euronext exchange in Paris (MATIF), wheat prices in Paris hit a seven-week high during early trading on Wednesday, according to UK-based market analysts CRM Agri-Commodities. However, the early gains were lost in afternoon trading as wheat futures prices closed down.

Prices for December 2015 wheat finished down €1/t at €178/t, while December 2016 wheat prices took a bigger hit – falling by more than €2/t to finish at just below €194/t.

Maize prices in Paris were generally steady yesterday, albeit marginally back. Prices for November 2015 maize finished just below €166/t, while November 2016 maize prices fell slightly to just over the €180/t mark.

Rape prices were steady to improving during yesterday’s trade. Prices for November 2015 rape were up by €1/t to finish close to €377/t, while November 2016 rape prices were flat at €354/t.

Chicago

In the US, grain prices from the Chicago exchange (CBOT) had a similar story to Europe.

US wheat prices also finished on a downward curve yesterday, with market expectations mixed ahead of a USDA grain report due to be published this Friday.

Prices for December 2015 SRW wheat closed Wednesday’s trade down more than $3/t to settle at $190/t (€168/t). December 2016 SRW wheat prices were back by the same amount to finish at just below $204/t (€181/t).

US maize prices were steadier, albeit slightly down. Prices for December 2015 maize declined by $1/t to finish on $156/t (€138/t), while December 2016 maize closed at $164/t (€146/t) – down $1/t from the previous day.