Many observers were hoping that the start of a new month would bring some upward momentum to international grain markets. However, as we move further into spring, grain prices remain extremely challenged as huge global stocks and favourable planting conditions for this year’s crop drag prices down.

Europe

On the Euronext exchange (MATIF) in Paris, prices for May 2016 delivered wheat lost over €1/t to settle at €153/t, while May 2017 delivered wheat was also back €1/t to finish at €172/t.

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European maize (corn) futures from Paris were also in decline, with June 2016 maize losing €1/t to finish below €151/t, while prices for June 2017 eased back slightly to settle at €172/t.

Rapeseed futures extended losses during Tuesday’s trade in Paris, with May 2016 delivered rapeseed losing €3/t to finish at €347/t, while May 2017 rapeseed fell by €2/t to sit at €350/t.

Chicago

On the Chicago exchange (CBOT) in the US, cereal prices suffered further losses, weighed down by a rally in the value of the US dollar in recent days.

SRW wheat for May 2016 delivery lost almost $3/t to finish at $164/t (€151/t), while May 2017 delivered SRW wheat fell by $2/t to settle on $184/t (€170/t).

US maize (corn) prices extended losses for the sixth trading session in a row, leaving prices on the floor. May 2016 delivered maize lost almost $1/t to settle at $140/t (€129/t), while maize for May 2017 delivery was also back $1/t to finish at $152/t (€140/t).