Severe cold and snowfall in Europe are of little to no concern to grain traders. They are, however, keeping an eye on developments in the United States and Argentina. Damage from the war in Ukraine is also being monitored. All in all, however, grain prices are currently largely unchanged.
Although calendar year 2026 has already begun a week ago, the grain trade is still in the Christmas spirit. Sales are slowly increasing, but for now, it remains very quiet. This is also reflected in pricing.
Wheat prices in Chicago rose slightly on Monday, but some of that was already offset yesterday. The large global supply continues to have a firm grip on the market, ensuring that any recovery will be nipped in the bud.
Soft wheat fell in Chicago to $5,10½ per bushel for the first delivery month, March. The May contract showed a similarly small decline, reaching $521¼ per bushel. Converted to European standards, these prices amount to €160 per ton for March and €164 per ton for May.
Prices have hardly moved for a long time
These are prices we've actually been seeing for quite some time. These prices were already being paid before Christmas. So, in reality, nothing is changing. Fluctuations in this meager trade are small, and slight price increases are immediately followed by price decreases. Thus, the situation remains as it has been for some time. No major changes are expected for the time being in the run-up to new figures from the US Department of Agriculture in the January Wasde report, which will be released on Monday.
It's the same story in Paris. Wheat prices did show a slight increase on Tuesday, but even that doesn't paint a different picture than just before Christmas. Just as then, it remains difficult to push the price level for the first delivery month above €190 per tonne. In early trading on Wednesday, prices rose slightly, but for the delivery month of March, prices still haven't risen above that level. Just before noon on Wednesday, the price was trading at €189,75 per tonne.