The downward pressure on grain prices this week shows no signs of letting up as markets continue to digest news of record global stocks of wheat and maize, while at the same time excellent planting conditions for this year’s crop point towards another bumper harvest.

Europe

On the Euronext exchange (MATIF) in Paris, prices for May 2016 delivered wheat held steady below €154/t, while May 2017 delivered wheat fell marginally to finish below €174/t.

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European maize (corn) futures from Paris continued to struggle with June 2016 maize falling slightly to €151/t, while prices for June 2017 lost almost €2/t to finish below €173/t.

Rapeseed futures also endured losses during Wednesday’s trade in Paris, with May 2016 delivered rapeseed losing almost €3/t to settle below €352/t, while May 2017 rapeseed was back €2/t to finish at €352/t.

Chicago

On the Chicago exchange (CBOT) in the US, wheat futures clawed back some of the heavy losses endured this week while maize prices continue to weaken.

SRW wheat for May 2016 delivery improved by $1/t on Thursday to settle at $167/t (€152/t), while May 2017 delivered SRW wheat gained slightly to finish at $187/t (€170/t).

US maize (corn) prices extended losses into Thursday with May 2016 delivered maize down almost $2/t to settle below $142/t (€129/t), while maize for May 2017 delivery was back $1/t to finish at $155/t (€141/t).