European raw materials market

• Wheat on Euronext managed to close trading on an upward note, above the symbolic threshold of €205/t for the contract expiring in September.

In addition to the euro/dollar exchange rate falling below 1,18, markets reflected some concerns from the American plains. In the rest of the world, growing conditions remain generally good, even if the rainfall deficit is starting to be felt in western Europe.

In the immediate future, crop rotation for the 2027 harvest will be a question of rising costs. The first effects could be felt in Australia, where farmers are already having to make compromises for sowing in the coming weeks. By September, the same issue will arise for producers in the northern hemisphere.

In turn, rapeseed manages to cross again above €490/t for the contract expiring in August from Euronext.

The USDA’s much-anticipated crop condition report has once again highlighted concerns about winter wheat. The reason is that the percentage of winter wheat considered in good to excellent condition continues to fall and is now at 30%. This level represents a 4-point drop from the previous week and is below market expectations, which are estimated at an average of 33%.

At the same time, producers are busy sowing spring wheat, soybeans and corn. The progress of agricultural work is 12%, 12% and 11% respectively. The increase in input prices, especially for fertilizers, could lead farmers to adjust their crop rotation, mainly to the detriment of corn and in favor of soybeans.

In Argentina, the attaché USDA announced yesterday a record corn production of 61 Mt. This figure is up 11 Mt from last year and, most importantly, 9 Mt higher than the level announced in the latest USDA monthly report.

Euronext quotes on 20.04.2026 (GMT+1)

Wheat (€/t)

Maize (€/t)

Rapeseed (€/t)

Article written by Gabriela Dan, Editor-in-Chief Arta Albă

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