European grain prices inched slightly higher on Monday but remain weak overall after being dragged down at the end of last week due to a survey of US farmers on their planting intentions. A slight strengthening in the value of the euro over recent days is unlikely to help prices, however.

In the US, prices were generally very static with little news coming to the market. A report on the progress of the US wheat crop is expected on Tuesday evening after markets close, which should provide an insight on how the crop has been coping with the recent dry weather in central states.

Europe

On the Euronext exchange (MATIF) in Paris, grain prices showed marginal gains across the board on Monday but remain depressed overall.

Wheat futures showed further slight improvement with May 2016 delivered wheat gaining almost €2/t to finish below €156/t, while May 2017 delivered wheat increased marginally to settle below €177/t.

European maize prices remained weak having been dragged lower on the back of the news coming from the US last week. June 2016 maize inched slightly higher during Monday’s trade in Paris to finish below €153/t, while June 2017 maize gained €1/t to settle on €173/t.

Rapeseed futures from Paris were also slightly improved, with May 2016 delivered rapeseed increasing by €1/t to finish on €369/t, while May 2017 rapeseed also lifted €1/t to finish at €365/t.

Chicago

In Chicago, cereal prices showed little movement but remain very weak after a difficult end to the month of March.

SRW wheat for May 2016 delivery eased back slightly to finish at $174/t (€153/t), while May 2017 delivered SRW wheat was also marginally down to settle below $194/t (€171/t).

US corn (maize) prices were generally flat during Monday’s trade with May 2016 delivered corn static to finish below $140/t (€123/t), while May 2017 delivered corn was also steady at $151/t (€133/t).