After the welcome bounce in prices on Tuesday, grain markets reverted to a downward trend once again on Wednesday. Data showing a reduced acreage of winter wheat plantings in the US for 2016 has not convinced markets that a tightening of grain supplies from producers will happen next year.

Europe

On the Euronext exchange in Paris (MATIF), wheat for May 2016 delivery lost almost €2/t during Wednesday’s trade to settle below €174/t, while May 2017 delivered wheat was down over €1/t to finish at €186/t.

Maize (corn) futures in Paris were flat to falling. June 2016 maize was back by €2/t to settle at €166/t, while June 2017 maize futures remained flat just below €176/t.

Rapeseed was steadier than other weeks, albeit still in reverse. May 2016 delivered rapeseed was flat at €366/t, while May 2017 rapeseed lost almost €2/t to finish just over the €360/t mark.

Chicago

On the Chicago exchange (CBOT), wheat futures were in reverse while maize held steady.

SRW wheat for May 2016 lost almost $2/t during Wednesday’s trade to settle at $177/t (€163/t), while May 2017 delivered SRW wheat was also back $2/t to finish just shy of $194/t (€179/t).

US maize (corn) prices were very steady on Wednesday. May 2016 delivered maize was flat at $143/t (€132/t), while maize for May 2017 delivery was also flat at $157/t (€145/t).