French wheat for December reached a peak on 20 August, hitting €241/t. That’s the highest price since a close of €247/t on 22 July.

On Wednesday afternoon, it had recovered from a drop to come back up to €240.50/t.

Corn took a similar trend and markets looked similar in the US and the UK.

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The Pro Farmer Crop Tour ended last week after sampling over 3,000 fields in seven US states and estimated US corn production at 15.344 billion bushels. This is at an average yield of 173.2bu and is behind the USDA’s August estimate of 180.7bu/ac.

Soybean production for 2026 was estimated at 4.572 billion bushels, based on an average yield of 53.3bu/ac. This is slightly higher than the USDA’s estimate of 52.7bu/ac.

Chip Flory, who led the western leg of the crop tour, said: “In corn, lower ear populations, shorter grain length and inconsistent field performance limited upside in a number of areas, while soybeans showed pockets of strong potential, but remain more dependent on late-season weather and plant health.”

Native prices

To see estimated Irish production by the Irish Farmers Journal, which is down slightly on last year, go to pages 36-37.

At home, prices of €245 to €250/t are being reported for wheat, with barley €10 to €15/t behind these prices.

However, there appears to be little movement of native grain in the market. This is likely to be the case until a harvest price is announced by the big two co-ops.

There is no indication of when these announcements will come, but, in recent years, have been in October. This may be a good thing, as markets appear to be gaining overall, but it’s a fine balance.

Black Sea

There is a massive amount of grain reported to be waiting to be exported from the Black Sea and when that starts to move, prices could plummet.

This week, Argus Media reported: “Operators remain vigilant for the slightest sign of appeasement between Russia and Ukraine regarding port export activity, while both countries have significant volumes to export at the beginning of the campaign and the accumulated delay in shipments continues to increase.”

Oilseed rape

Those planting at present should be looking at 2027 prices.

On Wednesday afternoon this week, the French November price for oilseed rape was at €513.75/t, up on the beginning of the week.

The November 2026 price was at €530.25/t. It was picking back up, having peaked at €551.75/t on 19 August and dropping back.

Oil prices were down on Wednesday afternoon, as talks between Iran and Oman, gave hope that the Strait of Hormuz could reopen.