| Commodity | Spot (€/t) | Nov/Dec 25 |
| IRL Feed Wheat¹ | 210-212 | 215-220 |
| IRL Feed Barley¹ | – | 210 |
| Paris MATIF Wheat² | – | 192.25 |
| Paris Oilseed Rape | – | 471.25 |
| FOB Creil Malting Barley (July-25) | 186 | – |
| Maize (ex.port) | 225 | 212-215 |
² Source: Euronext correct as of 21.08.25
Market Prices and News
European grain prices remain very bearish in tone. All EU markets have declined significantly in recent weeks due to rising supply forecasts, limited global demand and poor competitiveness.
MATIF wheat futures remain around €190/t. Dec-25 contract closed on Friday 12th September at €189.75/t. Prices have risen marginally to €192/t this week, partially in response to the announcement by Russia of an export duty of $6/t from 17th of September (AHDB).
A lack of competitiveness for EU grain in the global export market remains a dominant feature, with EU exports well below normal.
US maize futures have been slightly supported by a weakening dollar and expectations of an interest rate cut by the Federal Reserve. Chicago maize futures have increased to $4.30/bu (€143/t) this week, the highest since early July (Agritel).
US maize condition is rated as 67% good, down from 68% last week (USDA).
Paris rapeseed prices remain firm at approximately €470/t for Nov-25.
No further grain prices for harvest have been finalised for harvest 2025, this follows on from Centenary Co-op’s announcement last week that it will pay €198/t for feed barley and €208/t for feed wheat respectively.
Native dried prices for wheat are at €210-212/t spot with €215-220/t available for December. Old crop maize ex. port is at €225/t, but new crop is lower at €212-215/t.
FOB Creil prices for malting barley have declined significantly in recent weeks, FOB Creil prices for July-25 have dropped to €186/t this week, down €45/t since the end of June. This is in response to poor demand for malting barley in Europe and ample supply.
Global Grain Supply and Demand Updates
The USDA published its September WASDE report on Friday, September 12th. Key highlights from the report include:
- Global wheat stocks increased to 264.1MMT up from 260.1MMT last month. Production in the top – 8 wheat exporters have also been raised by 9.15MMT to stand 406MMT – a new record
- Corn acreage was increased to 98.7 million acres, a jump of 1.4million acres on the month. Yield estimates have been corrected to 186.7bu/ac but total production is estimated at 427MMT above the record 425MMT forecast last month.
Other recent reports have revised production upwards. Russian analysts IKAR and Sovecon have forecast wheat production to increase to 87-87.2MMT respectively, this is up from 86MMT last month.
In Europe, the French Ag Ministry has estimated soft wheat production at 33.3MMT with rapeseed at 4.6MMT. While Expana forecasts the EU-27 common wheat production will be 136.1MMT up 3.3MMT on this time last year.
