| Commodity | Spot/Nearby | Nov/Dec 25 |
| IRL Feed Wheat¹ | 215 | 215-220 |
| IRL Feed Barley¹ | 205 | 210 |
| Paris MATIF Wheat² | – | 208 |
| Paris Oilseed Rape | – | 481.75 |
| Maize ex. Port | 208 | 210 |
² Source: Euronext correct as of 16.07.25 4pm
Market Prices and News
European wheat prices have found a little more support last week due to a number of factors. On Friday July 9th, MATIF Dec-25 closed at €209.75/t up €3.25/t on the week. MATIF Sep-25 futures have opened above €200/t again in trading on Monday July 14th but have slipped marginally below in later trading this week.
Delays in the Russian harvest coupled with slow movement at farm level have supported prices somewhat last week. A slight easing in the dollar/euro currency exchange rate has also supported European prices in the same period (Agritel).
CBOT maize prices continue to see sharp downward pressure with record crop yields anticipated in the USA for 2025 and record maize production also expected in south America. Corn futures for Sep-25 have closed at below $4/bushel (€133.45/t) in recent days. Crop ratings for maize and soya look to be strong due to very benign and favourable growing conditions in the key production states thus far.
Oilseed rape prices have, in general, come under significant pressure in recent weeks with nearby MATIF Aug-25 struggling to hold around €460-465/t due to ongoing harvest pressure and uncertainty over US/EU trade tariffs. Production in France is expected to rebound significantly this season. However, this week, dryness in Canadian provinces has provided support with MATIF futures for Aug-25 climbing above €470/t again.
European maize prices are rising following concerns over effects very high temperatures will have at the import flowering stage. Strategie Grains has reduced its forecast for EU maize production by 3MMt to 57.7MMT.
No native prices have been issued this week, indications from the trade are for a similar sentiment with green barley valued at between €180-185/t and wheat +€10/t above this.
For dried grain prices out to November, wheat is pitched at €220/t with barley at €210/t.
Malting barley prices have come under pressure due to rapid harvesting progress, good yields and limited demand. FOB Creil July-25 physicals have traded between €217-220/t over the past three weeks.
Global Grain Supply and Demand
The USDA released its July WASDE report on Friday July 11th. For wheat, the outlook is for a small reduction in world supplies to 1,072MMT with lower supplies in countries such as Ukraine and Canada offsetting higher production in the EU, USA and Russia. The Russian crop is pitched at 83.6MMT, up 0.5MMT on the month.
In France, the Agreste publication reduced the soft wheat area by 100kha, however, production is expected to rebound to 32.6MMT this year which +2.4% higher than 5Y average. Spring barley is expected to produce 3.42MMT which is 9.9% higher than the 5Y average.
For US wheat supplies are raised to 1.929 millions bushels with average all wheat yield of 52.6bu/ac (1.43t/ac).
For US corn crops, USDA has estimated the national yield for corn in 2025 is forecast at 181bu/ac, almost 1% higher than the record high yields produced in 2024. For the 2024/25 crop, total US corn exports are estimated to come to in at a record 2.75 billion bushels.
USDA has reported that more than half of US soybean oil production will be used for biofuel production in 2025/26 a 26.5% increase YOY due to significant federal policy changes.
For Brazil production maize production has also been increased for the 2024/25 crop to 132MMT and the 2025/26 crop is projected at a record 132MMT.
