Wheat and corn prices in the EU and the US were generally on the way up this week after a decline over the last few weeks.

December French wheat (dried) closed on Monday of this week at €206/t and on Wednesday afternoon was at €209.50/t.

Oilseed rape prices dropped this week. On Wednesday of last week, the French oilseed rape price for November closed at €533.25/t. On Wednesday afternoon of this week, it was at €516.50/t, up slightly after a decline over the week.

News of progress in talks in the Middle East no doubt affected markets. On Wednesday, there were reports of the first tankers carrying Iranian oil exiting the Strait of Hormuz.

Oil and fertiliser prices were declining. This could result in a change in grain markets. High fertiliser prices can result in a change in cropping, with high fertiliser-reliant crops such as corn being reduced. However, with a decline in fertiliser prices corn may be more attractive.

Ukraine

The EU released a crop monitoring report on Ukraine on Monday 15 June. The report said there is a favourable yield outlook for winter crops.

Soft wheat and winter barley yields were forecast above the five-year average in the report.

Rapeseed production was also estimated above the five-year average due to an increased planted area.

Spring sowing was delayed, but the report is expecting yield prospects in line with historical trends.

In France, Argus Media reported that the French ministry of agriculture released revised sowing estimates.

Grain maize area was placed down 18.8% from last year to 1.31m hectares. Input prices and uncertainty over prices are cited as some of the reasons for the decline.

Sunflower area has increased by 10.7% from last year to 0.75m hectares. Oilseed rape area has increased by 12% to 1.4m hectares. Oilseed prices may have looked more attractive to growers.

The US Department of Agriculture released the World Agricultural Supply and Demand Estimates (WASDE) report last week. US wheat supplies were estimated lower, while global wheat production, supplies and consumption were all raised.

The US outlook for corn was unchanged. Global coarse grain production, which includes corn and barley, is forecast up 5.8m tonnes for 2026/2027 to 1.594bn tonnes.

The report also stated that foreign barley production for 2026/2027 is slightly higher, with larger crops in Turkey and Ukraine partly offset by a reduction in India.

Prices

Prices came out from Dairygold last week for harvest 2026 of €200/t for green feed wheat, €190/t for green feed barley and €510/t for green oilseed rape. These have likely dropped since, particularly oilseed rape which dropped significantly on the futures markets.