European grain prices lifted slightly during yesterday’s trade in Paris despite the single currency strengthening further against sterling and the US dollar. The euro peaked at over £0.77, which was a boost to grain prices on the LIFFE exchange in London.

After no trading on Monday for the bank holiday Martin Luther King Day, trade resumed in the US with modest gains for cereal prices.

Europe

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In Paris, grain prices from the Euronext exchange (MATIF) were generally steady with some slight positive movement. Wheat for May 2016 delivery was relatively flat at just below €171/t, while May 2017 delivered wheat gained €1/t to finish at just over €184/t.

Maize (corn) futures in Paris were mixed with June 2016 maize lifting by almost €2/t to finish at just over €164/t, while June 2017 maize lost almost €3/t to settle below €173/t.

Rapeseed futures showed further improvement for the second day of trade this week. May 2016 delivered rapeseed gained almost €2/t to finish at €362/t, while May 2017 rapeseed increased by more than €1/t to finish Tuesday’s session in Paris at €357/t.

Chicago

After Monday’s bank holiday when markets were closed in the US, the grain market in Chicago (CBOT) showed some upward momentum during Tuesday’s trade.

SRW wheat for May 2016 delivery inched slightly higher to settle at $176/t (€161/t), while May 2017 delivered SRW wheat was flat at $192/t (€176/t).

US maize (corn) prices rose to their highest price since December. May 2016 delivered maize jumped by $2/t to settle over the $146/t (€134/t) mark, while maize for May 2017 delivery also gained $2/t to finish Tuesday’s session in Chicago at $159/t (€146/t).