EU wheat and maize prices declined over the last week, while oilseed rape recovered.

US wheat, maize and soybean prices were up over the last week. UK prices remained stable and the nearby price improved.

After the pause on the implementation of tariffs last week, European grain prices dropped.

On Friday, the December French wheat price fell to €222.25/t. On Tuesday, that price fell to €220.50/t. This is the lowest price since 26 August 2024, when it was at €219.50/t.

Maize also fell to a low. The November French price was at €210.50/t on Friday and fell to €207/t by Tuesday evening. That’s the lowest it has been since 29 November when it was at €206/t.

USDA report

The United States Department of Agriculture (USDA) released the World Agriculture Supply and Demand Estimates report for April last week.

The US wheat outlook is for larger supplies and increased ending stocks.

The global outlook for wheat in the report was for smaller supplies, consumption and exports and larger ending stocks.

It stated that: “Global stocks for 2024/25 are now 3% below the previous year and the lowest since 2015/16.”

The US corn outlook is for greater exports and smaller ending stocks.

Global coarse grain production for 2024/2025 was forecast 0.4 million tonnes lower in the report to 1.495bn tonnes.

Reuters reported that in Argentina, the Buenos Aires grain exchange is forecasting a bumper wheat harvest that could be the second-largest recorded.

The Agriculture and Horticulture Development Board (AHDB) reported this week that Strategie Grains increased its forecast for EU soft wheat production for 2025/2026 13% more than last season.

EU maize production is forecast up 2% and EU barley production is raised 3% on last year. French spring barley area is down about 10.7% or 520,000ha this year from the five-year average, while winter barley area is back 2.6%.

Oilseed rape

Oilseed rape prices recovered this week. On Friday, the November French price closed at €476/t and by Tuesday evening it was at €482/t, up €9/t on the day before. French oilseed rape area is estimated up 7.4% from the five-year average.

Rapeseed prices were also up in the UK. Oil prices were down this week. Palm oil prices were also down, while US soybean prices also fell slightly on Tuesday. The Brazilian soybean harvest was reported to be 89.1% complete as of 11 April. Production is forecast up 500,000t.