The French agriculture ministry has raised its estimates for domestic stocks of wheat and barley after another bumper harvest this season as well as lower export volumes. Consequently, futures on the Euronext exchange in Paris were dampened in light of the bearish outlook.

Europe

On the Euronext exchange in Paris, cereal prices were in retreat.

Wheat for May 2016 delivery lost almost €2/t to finish below €188/t, while May 2017 wheat also fell by €2/t to end Thursday’s trade in Paris at €193/t.

The French agriculture ministry maintained its estimate for maize (corn) stocks, giving prices more resilience during yesterday’s session. June 2016 maize was relatively static at €175/t, while June 2017 maize futures gained marginally to just under €183/t.

Rapeseed lost some of its recent upward momentum in Thursday’s trade. Rapeseed for May 2016 delivery fell slightly to €376/t, while May 2017 futures prices for rape lost almost €3/t to settle below the €363/t mark.

Chicago

On the Chicago exchange (CBOT), trade was more positive.

SRW wheat for December 2015 delivery rose by $1/t to finish at $183/t (€170/t), while December 2016 SRW wheat also gained by $1/t to end Thursday’s session at $193/t (€180/t).

Maize futures showed less movement but remained steady.

December 2015 maize, or corn, was flat at $143 (€132/t), while maize for December 2016 delivery gained marginally to finish at $154/t (€143/t).