Wheat prices clawed back some lost ground at the end of last week’s trading on Friday amid continuing concerns of dryness in the US wheat plains down around Kansas. A return to the market by the Egyptian grain authority last week for a 60,000t cargo helped to boost European wheat prices. Maize or corn prices both sides of the Atlantic were static and remain very weak.

Europe

On the Euronext exchange (MATIF) in Paris, wheat and rapeseed prices found some support while maize prices were back marginally.

Wheat prices from Paris made some gains to close out last week with May 2016 delivered wheat lifting €1/t to finish above €154/t, while May 2017 delivered wheat inched marginally higher to settle at just below €176/t.

European maize prices were down slightly with June 2016 delivered maize edging back to €155/t, while June 2017 delivered maize losses for the fourth day in a row by €2/t to settle at €167/t.

Rapeseed futures from Paris saw some gains during Friday’s trade with May 2016 delivered rapeseed increasing by €1/t to finish below €369/t, while May 2017 rapeseed increased almost €2/t to move just below €366/t.

Chicago

In Chicago, wheat prices recovered some of the losses incurred earlier last week, while corn prices were static.

SRW wheat for May 2016 delivery increased over $1/t during Friday’s session in Chicago to finish at $169/t (€148/t), while May 2017 delivered SRW wheat also lifted $1/t in price to settle at $189/t (€166/t).

US corn (maize) prices finished out last week on a more positive footing and have almost recovered all of the heavy losses from the week before. On Friday, May 2016 delivered corn inched slightly higher to settle below $143/t (€125/t), while May 2017 delivered corn was flat, finishing just below $154/t (€135/t).