Markets were turbulent this week as the conflict in the Middle East and an increase in oil prices drove grain markets higher last week and into Monday. They subsequently fell back on Tuesday after Donald Trump announced that the conflict with Iran could end very soon.

On Tuesday evening, MATIF wheat for December closed at €214.75/t, down from €221.25/t on Monday. Monday’s price was the highest since August. Wednesday morning saw a slight rebound to €216.50/t as the market opened.

Maize was down to €203.25/t on Wednesday morning from €208/t on Monday.

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Oilseed rape followed the same pattern, reducing to €485.50/t on Tuesday evening from €498/t at close the previous day. However, the market bounced back once again on Wednesday morning, opening at €492/t. Oilseed markets are closely tracking the fluctuations in oil markets.

Agritel reports that around €5/t of the reduction in European grain markets on Tuesday was because the euro/dollar exchange rate rose above 1.16 once again.

US wheat and corn rose on Monday before falling back before markets closed.

The AHDB published UK cereal usage data for January last week. Home-grown and imported milling wheat usage declined by 2.4% and 30% respectively from July to January. Brewer’s, maltster’s and distiller’s barley usage was down 19.2% for the same period compared to 2024/25.

WASDE Report

The United States Department of Agriculture released its monthly World Supply and Demand Estimates (WASDE) Report on Tuesday 10 March.

The report placed the 2025/26 global outlook for wheat at larger supplies, greater consumption, reduced trade and lower ending stocks.

Projected 2025/26 global ending stocks reduced by 0.6m tonnes but remain at a five-year high.

Global coarse grain production (maize and barley) was forecast to increase by 2.7m tonnes to 1.593bn tonnes.

The report said: “This month’s foreign coarse grain outlook is for larger production, greater trade, and higher ending stocks relative to last month. Foreign corn production is higher as increases for Ukraine and Brazil are partly offset by a decline in Argentina.”

Global oilseed production for 2025/26 was raised by 1.8m tonnes. However, global soybean production is down due to a decrease in 0.5m tonnes in Argentina because of weather issues.

The European Union’s export potential was reduced by 1m tonnes, but this was offset by an increase in feed demand.

Back at home, Tirlán offered growers green prices for September 2026 this week. Wheat was at €190/t, barley was at €185/t and oilseed rape was at €465/t. These prices do not include any potential trading bonuses on input purchases.