February has been a month to forget for international grain markets, as prices across the board endured a period of steady decline. However, markets opened this week on a more positive note, with lifts for wheat in particular on the back of Saudi Arabia buying up to 870,000t of wheat by tender last week.

Europe

On the Euronext exchange (MATIF) in Paris, prices for May 2016 delivered wheat gained €1/t to settle below €155/t, while May 2017 delivered wheat held steady at €173/t.

European maize (corn) futures from Paris were marginally better, with June 2016 maize increasing by €1/t to finish below €152/t, while prices for June 2017 gained slightly to settle below the €173/t mark.

Rapeseed futures were sluggish during Monday’s trade in Paris, with May 2016 delivered rapeseed flat at €350/t, while May 2017 rapeseed also showed little movement either way at €352/t.

Chicago

On the Chicago exchange (CBOT) in the US, wheat futures were slightly improved, while maize prices continue to weaken.

SRW wheat for May 2016 delivery improved marginally to finish just under $167/t (€153/t), while May 2017 delivered SRW wheat was flat at $186/t (€171/t).

US maize (corn) prices continue to accrue losses, with May 2016 delivered maize down a further $1/t to settle below $141/t (€129/t), while maize for May 2017 delivery was also back $1/t to finish at $153/t (€141/t).