Grain markets were on the up this week. Matif wheat for December finished at €211.75/t at the end of last week, an increase of just €1.75/t over the week.

However, by Tuesday it had risen to €217.50/t. May wheat was priced at €200.25/t. UK wheat also increased in price, as did maize and oilseed rape prices in France.

There are a number of things playing into the market as usual. Agritel reported that the dollar’s strength against the euro and the strong price of oil were supporting markets.

Crop conditions in France are also a watchpoint, with 66% of the soft wheat crop placed in good or very good condition.

Stratégie Grains places EU wheat and barley production down for 2024, and crop conditions in France were a big part of this.


Wheat production is estimated down 1m tonnes since February to 121.6m tonnes, and barley production is at 51.8m tonnes, down 1.3m tonnes since February. It was reported that maize production may rise.

However, overall world grain production is expected to increase. The International Grains Council has forecast that global grain production could rise by 28m tonnes in the 2024/2025 season to 2,332m tonnes.

Big crops from South America and increased maize crops in China, as well as increased wheat supplies from Australia were reported to contribute to this.

One thing that has been contributing to lower prices in the past few months has been grain from the Black Sea region in the market at competitive rates.

On Tuesday, Reuters reported that the EU may impose tariffs on Russian grain.

Reuters reported that officials close to the plans said that “the EU is preparing to impose tariffs on grain imports from Russia and Belarus to placate farmers and some member states”. However, the amount of grain entering the EU from Russia is relatively small. The Financial Times suggested the tariff could be €95/t on cereals.

Oilseed rape

Rapeseed prices were up this week. Strong prices for oil and palm oil are giving support to the market. The oilseed rape or canola area is expected to decline by 3% in Canada this year. However, the Agriculture and Horticulture Development Board in the UK are negative on oilseed rape prices for the next couple of months.

Malting barley

Spot malting barley, the free-on-board (FOB) Creil price increased by €7/t to €267/t last week and jumped further this week to €275/t on Tuesday evening. The harvest price for 2024 for Sebastian malting barley (FOB Creil) increased by €5/t this week to €245/t.