| Commodity | Dec/Jan |
| IRL Feed Wheat¹ | 215-220 |
| IRL Feed Barley¹ | 210 |
| Paris MATIF Wheat² | 192 |
| Paris Oilseed Rape (Feb-26) | 480.25 |
| Maize (ex. port) | 225 |
| Soyameal (ex. port) | 400 |
² Source: Euronext correct as of 03.12.25 10am
Market Prices and News
December Paris MATIF wheat futures had moved back below the €190/t support zone which they occupied in November. Paris May-26 futures dropped €4.50/t last week to close at €191.50/t on Friday 28th November.
However, some support has come this week from geopolitical developments in Ukraine/Russia talks. Russia threatened to attack Ukrainian vessels and port infrastructure in the Black Sea. Dec-25 increased to €192/t by mid-day on Wednesday December 3rd.
However, bullish prospects to support price increases appear to be few and far between on a global level Strong production in the southern hemisphere, good prospects for harvest 2026 in the northern Hemisphere and a weaker US dollar are all contributing factors.
Native prices for dried wheat reported to IFA this week are between €215-220/t with dried barley €10/t lower than this.
Imported maize is quoted at €225/t with soya-meal at €400/t this week.
Paris rapeseed futures for Feb-26 have fallen back from the €485/t zone in response to higher Australian production figures for 2025/26 announced this week. New crop futures for Aug-26 remain lower at €462/t however.
Global Grain Supply and Demand
Wheat production in the southern Hemisphere is exceeding earlier expectations. In Australia, agency ABARES has revised wheat output upwards to 35.6MMT up from 33.8MMT in September. Winter crop output is now expected to reach 66.3MMT, up 10% YOY and the 2nd largest winter crop on record. Argentinian wheat production is now expected at 25.5MMT up from 24MMT earlier in the season.
The EU Commission has further revised 2025 soft wheat production to 134.2MMT in the EU-27 for 202/26.
Figures from the Ukrainian economic ministry published this week showed that farmers there had harvested 52.6MMMt of grain from 10.4mha, this is down from 53.9MMT on 10.9mha in 2024/25.
USDA crop progress report showed that 48% of US winter wheat crops are in good condition, down from 55% at this point last year.
Argus media estimates the 2026 Russian wheat crop to come in at 86.5MMT down from 88.5MMT this year due to a slight decline in area to 26.83 million hectares.
