International wheat markets strengthened last week due to further dry weather concerns in the US and Brazil.

Paris (Dec 21) wheat closed last week at €213.75, ahead of €209.75 the previous week.

UK (Nov 21) feed wheat closed at €177.10, ahead of €174 from the previous week, while US (Dec 21) saw wheat gain over $10.

One of the main supporting factors for the gains seems to be the hot and dry weather concerns across parts of the US Midwest. Concerns are beginning to deepen for the emerging US spring wheat crop.

A continued lack of rainfall in key states has hit condition scores, with just 43% of wheat crops rated good to excellent. To put this in context, this score was 80% at this point last year.

However, it should be noted that European conditions are favourable for crop growth and this has somewhat limited gains.


Current expectations of a poor Brazilian Safrinha maize crop are expected to tighten global maize supply.

In May, the Brazilian firm Conab estimated the total Brazilian maize output at 106.4 million tonne (Mt). Its next forecast is due on Thursday, with large cuts expected.

A forecast released last week by consultancy firm IHS Markit estimates their total maize output at 88Mt.

After the UK and European markets closed last week, the USDA released its latest crop progress report.

As of 6 June, 72% of the US maize crops were rated good or excellent, down from 76% a week earlier and 75% at this point last year.

It was also below the market expectations.


Paris rapeseed (Nov 21) closed last Friday at €531/t, gaining €18.25/t from the previous week.

However, the focus this week turned to Australia, where, according to its government department ABARES, Australian farmers are this year expected to plant the largest area of rapeseed since 2017-18.

At 2.97 million ha, the area is 596,000ha more than for the 2020/21 season and potentially the third largest on record.

However, the news didn’t deter the market, as MATIF futures closed at €537.25 on Tuesday of this week, with ongoing dry weather concerns in Canada helping to shore up prices.

Native prices

Native prices remain unchanged this week at around €250/t for wheat and €240/t for barley. Imported maize is up another €5/t again this week at €285.

Native new-crop prices are also up about €5/t this week, with wheat at around €220/t and barley at €210/t.